RCS - AMTE Power PLC - MOU with CalPac Resources

Amte PowerAnnouncement

26/04/2023 07:00

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RNS Number : 4194X  AMTE Power PLC  26 April 2023

26 April 2023

 REACH

AMTE Power Plc

("AMTE Power" or the "Company")

MOU re zero-emission, circular copper supply with CalPac Resources

AMTE Power, a leading UK developer and manufacturer of lithium-ion and
sodium-ion battery cells for specialist applications in growing markets, is
pleased to announce that it has signed a memorandum of understanding ("MOU")
with CalPac Resources Limited ("CalPac Resources"), which is developing novel
technology derived from green hydrogen manufacturing to refine copper from
industry scrap.

The MOU is intended to see AMTE Power explore the use of CalPac Resources'
recycled copper technology to produce the anode material in its Ultra High
Power, Ultra Safe and Ultra Prime products, thereby contributing to delivering
the UK's net zero goals.

Copper resources are expected to come under increasing pressure as
decarbonisation efforts ramp up, with a projected global deficit of up to 9.9m
tonnes by 2035. The UK is the world's fourth largest copper waste exporter and
with no copper refineries in the country, millions of tonnes currently have to
be imported for manufacturing each year.

The partnership marks a step forward in decarbonising UK battery production
and establishing a homegrown supply chain that can underpin a wider British
battery ecosystem.

Both AMTE Power and CalPac Resources are planning to build facilities at the
Michelin Scotland Innovation Parc (MSIP) in Dundee.  MSIP was announced last
year as AMTE Power's preferred location for its first Gigafactory.

Tom Anderson, Managing Director at CalPac Resources, said: "This move
represents a solid shift towards a truly circular industrial economy. AMTE
Power will be the first battery manufacturer to use 100% local and
zero-process-emission copper in its batteries, a ground-breaking development
in UK battery manufacturing."

John Valentine, Supply Chain Director at AMTE Power, said: "We are making
strong progress in securing the critical materials needed for our cells as we
scale up production ahead of delivering our first Gigafactory. Working with
UK-based, sustainable producers is absolutely a priority for us reflecting our
wider ESG strategy, and that is why CalPac Resources is the ideal fit.  Our
partnership demonstrates the potential to create an end-to-end battery
industry here in the UK, powering the net zero economy of the future and
unlocking green collar jobs."

ENDS

Enquiries:

 

 AMTE Power plc                                        Tel: +44 (0)1847 867 200
 Alan Hollis (Chief Executive Officer)
 Anita Breslin (Chief Financial Officer)

 WH Ireland Limited (NOMAD and Joint Broker)           Tel: +44 (0)207 220 1666
 Chris Fielding / James Bavister (Corporate Finance)
 Fraser Marshall (Corporate Broking)

 Panmure (Joint Broker)
 John Prior / James Sinclair-Ford (Corporate Finance)
 Hugh Rich (Corporate Broking)
 Camarco (Financial PR)                                Tel: +44 (0)20 3757 4992 / 4981
 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/ (https://amtepower.com/)

About CalPac Resources Ltd.

CalPac Resources was founded in 2021 to take on the challenge of securing
safe, sustainable supply chains. CalPac's flagship product is green, entirely
circular and zero emissions copper. Based on innovative green hydrogen
technology. CalPac Resources is part of an ever growing UK based energy
transition consortia focused on servicing a growing UK battery and renewables
industry.

For more information visit: https://calpacresources.com
(https://calpacresources.com)

 

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