RCS - AMTE Power PLC - MoU with MAHLE Powertrain to supply UHP cells

Amte PowerAnnouncement

13/07/2022 07:00

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RNS Number : 2447S  AMTE Power PLC  13 July 2022

13 July 2022
 
 
 REACH

AMTE Power Plc

("AMTE Power" or the "Company")

 

AMTE Power and MAHLE Powertrain collaborate to develop next generation
powertrains for the automotive sector

 

AMTE Power Plc, one of the UK's largest commercial battery cell manufacturers,
has signed a memorandum of understanding ("MoU") with MAHLE Powertrain
("MPT"), the Engineering Services subsidiary of MAHLE Group. The non-binding
MoU lays the foundation for the supply of AMTE's Ultra High Power ("UHP")
cells to support the development of next generation electric vehicles.

MPT is well-known as a leading engineering services provider, working with
major vehicle OEMs and prestige car manufacturers to design, test and develop
electrified powertrain systems and hybrid vehicle engines. This partnership
will facilitate testing of AMTE Power's UHP cells in MPT's recently opened
Battery Development Centre in Northampton. This will allow MPT to develop
powertrain concepts for the next era of high-performance electric cars and
help address the automotive industry bottleneck in battery testing.

AMTE Power's differentiated cells are specifically designed to solve key
challenges for high-performance electric vehicles (EVs), balancing power,
weight and safety needs. The Group's lithium ion UHP cell provides rapid
charging and discharging times. All of ATME Power's cells are made in the UK,
guaranteeing security of supply and helping MPT's EV customers comply with
emerging rules of origin legislation.

This MoU is the latest in a series of commercial opportunities announced by
AMTE Power and is further endorsement of the Company's UHP cell as it looks to
scale up production in support of the drive towards net zero. The business
anticipates providing a further update later this year on its manufacturing
capabilities that will enable it to produce its cells in the UK at industrial
scale.

Kevin Brundish, CEO of AMTE Power, commented:

"This first step towards a commercial partnership with MPT builds on a number
of recent MoUs that we've agreed in the automotive sector. We're generating
real momentum in the market as more customers recognise the value of our
differentiated cell technology. This is an important step in our pathway
towards commercialisation and we are looking forward to working with MPT to
unlock the next generation of high-performance vehicles."

John Hollingworth, Sales and Marketing Director of MAHLE Powertrain commented:

"Securing access to the latest in battery cell technology is key to delivering
the sustained high performance our customers are looking for in their battery
pack developments. MPT have invested in our people's skills and developed
cutting edge design, analysis and performance testing capabilities to be able
to optimise the full potential of battery cells in module and pack form. This
partnership with AMTE means that we now can push the boundaries of battery
technology and feedback into the development cycle to push the boundaries even
further in the future."

ENDS

Enquiries:

 AMTE Power plc                                      +44 (0)1847 867 200
 Kevin Brundish (Chief Executive Officer)
 James Hobson (Chief Financial Officer)

 WH Ireland Limited (NOMAD and Joint Broker)         +44 (0)207 220 1666
 Chris Fielding / Ben Good

 Panmure Gordon (UK) Limited (Joint Broker)          +44 (0)207 886 2500
 John Prior / Harriette Johnson (Corporate Finance)
 Hugh Rich (Corporate Broking)

 Camarco                                             +44 (0)203 757 4992
 Ginny Pulbrook / Tom Huddart / Rosie Driscoll

 

About AMTE Power PLC

AMTE Power was founded in 2013 and is a leading developer and manufacturer of
lithium-ion battery cells for specialist markets. In March 2021, the Company
listed on the AIM market of the London Stock Exchange. The Company is focused
on launching a series of next generation battery cells based on new
chemistries and cell structures that are designed to solve key problems in
power delivery, energy performance, and safety. These new products are
targeted at a range of specialist markets including the electric vehicle
industry and energy storage sector. AMTE Power's purpose-built cell
manufacturing facility in Thurso, Scotland has the second largest cell
manufacturing capacity in the UK and the Company also has a product
development team based in Oxford.

For further information visit: https://amtepower.com/

 

About MAHLE Powertrain

MAHLE Powertrain is a specialist in providing engineering services for the
design, development and integration of advanced internal combustion engines
and electrified powertrain systems. As a recognised expert in these fields,
MAHLE Powertrain is engaged in the extensive research, development and
application of new traditional and advanced drivelines into cost-effective,
production feasible solutions for enhanced efficiency, improved fuel economy
and lower emissions.

As a services subsidiary of the MAHLE Group, MAHLE Powertrain has seven
technical centres strategically located in the UK, Germany, USA, and China and
is well-placed to provide solutions around the globe. It operates
independently of the main group when considering choice of components or
technologies.

 

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