REG - AMTE Power PLC - Delivery of Ultra Prime Cells

Amte PowerAnnouncement

03/03/2023 07:00

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RNS Number : 7329R  AMTE Power PLC  03 March 2023

3 March 2023

AMTE Power Plc

("AMTE Power" or the "Company")

Delivery of Ultra Prime Cells

 AMTE Power plc, a leading UK developer and manufacturer of lithium-ion and
sodium-ion battery cells for specialist markets, is pleased to announce the
delivery of its first Ultra Prime cells to its customer for testing.

The cells have been delivered in accordance with the terms of the existing
supply and development agreement with that customer for characterisation and
certification purposes, with more cells to be shipped as part of the
development programme.

AMTE Power's Ultra Prime cell is a non-rechargeable cell designed for use in
some of the most difficult environments on earth, with very high energy
density and high-temperature performance. This cell also has a low
self-discharge, making it well suited for applications where temperature high
pressure and accessibility are key considerations.

The cells were manufactured at AMTE Power's purpose-built cell manufacturing
facility in Thurso, Scotland. Going forward, Thurso will continue to scale-up
production of the Ultra Prime cells as well as continuing to be a centre for
cell research and development.

Alan Hollis, CEO of AMTE Power, commented:

"AMTE Power is one of the only manufacturers of battery cells in the UK today
and, although this delivery will have minimal impact on this year's financial
performance, it is a crucial first step to have delivered Ultra Prime cells
into the hands of our customer. We will continue to scale up production of the
Ultra Prime cells at Thurso as we meet the customer demand for this product.
We look forward to providing further updates on our progress at the interim
results on the 8(th) March."

AMTE Power Customer, commented:

"We are pleased to have received the cells from AMTE Power. The cell testing
phase is an important milestone for our business, and we look forward to
carrying out the testing and building on our existing relationship with AMTE
Power."

ENDS

Enquiries

 AMTE Power plc                                        +44 (0)1847 867 200
 Alan Hollis (Chief Executive Officer)

 Anita Breslin (Chief Financial Officer)

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

 Panmure Gordon (UK) Limited (Joint Broker)            +44 (0)207 886 2500
 John Prior / James Sinclair-Ford (Corporate Finance)
 Hugh Rich (Corporate Broking)

 Camarco (Financial PR)                                +44 (0)203 757 4992 / 4981
 Ginny Pulbrook / Rosie Driscoll

 

About AMTE Power

 

AMTE Power was founded in 2013 and is a leading developer and manufacturer of
lithium-ion and sodium-ion battery cells for specialist markets. In March
2021, the Company was admitted to trading 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. AMTE's proposed production
facility in Dundee, Scotland will be capable of producing 8 million battery
cells per annum enabling the Company to rapidly scale up cell production..

 

For further information visit the Company's website: www.amtepower.com
(http://www.amtepower.com)

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