REG - AMTE Power PLC - Notice of Interim Results

Amte PowerAnnouncement

25/01/2023 07:00

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RNS Number : 7329N  AMTE Power PLC  25 January 2023

25 January 2023

AMTE Power Plc

("AMTE Power" or the "Company")

Notice of Interim Results

 

AMTE Power plc, a leading UK developer and manufacturer of lithium-ion and
sodium-ion battery cells for specialist markets, announces that it expects to
publish its results for the six months ended 31 December 2022 in the week
commencing 6 March 2023.

During the first half of the current financial year, AMTE Power continued to
progress towards its stated operational objectives, recruited a new Chief
Executive Officer and Chief Financial Officer, and secured additional
financing.

The Company's existing cell manufacturing facility in Thurso, Scotland
continues to provide manufacturing capacity to secure and execute on
production contracts for the Ultra Safe and Ultra Prime cells. The facility in
Thurso is allowing AMTE Power to scale up the production of these cells for
customers and, ultimately, underpins preparation to invest in the business'
first MegaFactory.

Alan Hollis, the new CEO of AMTE Power, commented:

"The business has continued to make good progress during the six months ended
31 December 2022. AMTE Power has a differentiated product range targeting
identified underserved market segments in a structurally growing sector where
demand for battery cells is incredibly strong. Ultra High Power cell
 manufacturing trials at the UKBIC are progressing well and the business is
now planning for larger scale production runs. Our pipeline of opportunities
and strong technology base combined with our clear path to scale up leave us
well placed for the future.

"Since joining AMTE Power, I have substantially completed a thorough review of
the business and intend to set out my vision for the next stage of our growth
at the interim results."

 

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

 

Notes to Editors:

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
state-of-the-art MegaFactory in Dundee, Scotland will be capable of producing
over 25,000 high added value batteries per day 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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