Amte Power Share Discussion Threads

[andyview] 06/10/2022 08:26

Great news…

Added a few more today

Gla

[jpuff] 06/10/2022 07:16

AMTE Power PLC AMTE Power agrees contract with UKBICSource: UK Regulatory (RNS & others)TIDMAMTERNS Number : 9412BAMTE Power PLC06 October 2022Thursday 6 October 2022AMTE POWER PLC("AMTE Power", "AMTE" or the "Company")AMTE Power agrees production contract with the UK Battery Industrialisation Centre for its Ultra High Power cellsHighlights:-- Milestone achievement: framework contract signed with the UK Battery Industrialisation Centre ("UKBIC") to produce up to 60,000 Ultra High Power cells per year for the high power automotive and fuel cell electric vehicle markets-- Ultra High Power automotive cell demonstrates a consistent six-minute full charge time in extensive trials-- The contract with UKBIC starts in January 2023 for anticipated sales to customers in sufficient scale to allow them to progress to in-vehicle trials-- Agreement is a key milestone to upscale production ahead of mass commercialisation plans as AMTE Power progresses towards its first MegaFactory in Dundee, Scotland, which is underpinned by the growing pipeline of potential business with opportunities of circa GBP240 million across the AMTE Power product rangeAMTE Power moves to scale manufacturing at the UK Battery Industrialisation CentreAMTE Power, the developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets, announces that it has signed a contract to manufacture its Ultra High Power cells at UKBIC in Coventry to support the next phase of its commercialisation plans.This is a significant milestone for AMTE Power. Under the agreement the Company can request UKBIC to manufacture up to 60,000 of its Ultra High Power cells each year, over an initial term of 24 months. This will enable AMTE Power to deliver its first Ultra High Power cells, in sufficient scale to allow customers to progress through to in-vehicle trials, as the industry transitions away from traditional fuels.In August 2022, AMTE Power announced good progress in manufacturing trials for the Ultra High Power cell at UKBIC, with cells performing well against the Company's target specification when produced on UKBIC's commercial scale equipment. In particular, the Ultra High Power cells' low internal resistance supports exceptional power delivery and very fast charging, with current testing demonstrating a full charge in six minutes.Ramping up production of the Ultra High Power cells at UKBIC is due to start from January 2023, generating initial revenues for the Company and enabling the business to meet growing demand from within the automotive sector principally for high performance Electric Vehicles ("EVs") and Fuel Cell Electric Vehicles ("FCEVs"). AMTE Power has existing non-binding memoranda of understanding in place with key automotive partners Cosworth, Viritech and MAHLE Powertrain, in addition to development agreements with Sprint Power, Eltrium and BMW.The use of UKBIC to manufacture cells is a key milestone to upscale production ahead of mass commercialisation plans as AMTE Power progresses towards its first MegaFactory in Dundee, Scotland. This agreement will ensure products can be delivered to customers in advance of the opening of its planned MegaFactory, which is underpinned by the growing pipeline of potential business with opportunities of circa GBP240 million across the AMTE Power product range.Commenting on the contract, Kevin Brundish, CEO, AMTE Power, said:"Having already secured significant early interest in our Ultra High Power cell from major automotive partners, this contract will enable us to bring our products to market sooner while we progress our own MegaFactory."This new phase in our journey builds on the partnership that we've established with UKBIC through cell development. It is testament to the investment that the UK Government has made in this market-leading battery manufacturing and scale-up facility that we are now able to put that development work into practice with the first production contract at UKBIC to get cells into customers' hands as we power the energy transition."Jeff Pratt, Managing Director, UK Battery Industrialisation Centre, added:"We're delighted to be entering into this landmark agreement with AMTE Power to transfer their design into UKBIC and then manufacture their next generation Ultra High Power cells at volume, allowing us to further support the company's significant commercialisation plans. Advanced battery cells being manufactured at volume in the UK are a vital component of ensuring the UK prospers from the energy transition towards Net Zero. This latest agreement - our biggest to date - is further demonstration of the unique value of UKBIC which, since being opened just over a year ago, is already delivering incredibly successful outcomes for the UK with customers like AMTE."Jackie Doyle-Price, Minister for Industry said:"Batteries are the foundation of the industries of the future, from electric vehicles to renewables, and building a domestic supply chain for them is central to our plans to grow the economy, create jobs and bolster energy security."This collaboration between two government-backed partners will see AMTE's battery production ambitions take the next step, and help the UK seize on the opportunities this technology presents."This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.ENDS Enquiries: AMTE Power plc Tel: [phone] 867 200 Kevin Brundish (Chief Executive Officer) James Hobson (Chief Financial Officer) WH Ireland Limited (NOMAD and Joint Broker) Tel: [phone] 1666 Chris Fielding / James Bavister / Ben Good Panmure Gordon (UK) Limited (Joint Broker) Tel: [phone] 2500 John Prior / Harriette Johnson (Corporate Finance) James Sinclair-Ford Hugh Rich (Corporate Broking) Camarco (Financial PR) Tel: [phone] 4992 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 is expected to be operational and in production by Q3 2025 and 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.comThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDCNTBKPBNABDDKKK(END) Dow Jones NewswiresOctober 06, 2022 02:00 ET (06:00 GMT)

[mjneish] 06/9/2022 16:18

Thanks for the article.

[pinkfoot2] 05/9/2022 18:22

I did say this was overvalued-cash call coming now doubt.Low margin, high cost-not attractive

[mjneish] 05/9/2022 12:35

Jpuff30 Aug '22 - 20:26 - 7 of 9

An article in todays Telegraph covering AMTE.

Could you paste it in or provide a link? Thanks.

[jpuff] 05/9/2022 11:56

Obviously not enough to send the shares North!

[my retirement fund] 31/8/2022 07:51

whats it say?

[jpuff] 30/8/2022 20:26

An article in todays Telegraph covering AMTE.

[darrin1471] 23/8/2022 20:05

mrf. thanks
So they are not aiming to sell a niche premium product or dominate the world.
I need to read up, to understand the business model and potential. More bedtime reading. No time to sleep

[my retirement fund] 23/8/2022 17:03

The commoditised giga watt factories you are thinking of are there as part of a supply chain solution for the the market that's growing exponentially, these are factories that cost billions to set-up and run. You won't get anything on this scale in the UK for many reasons, not least because we are no longer plugged into the freemarket of our former trading partners. These are strategic investments for those with easy access to market and the supply chain only. Where AMTE may have an edge though as it brings its cells to market is partnering in a junior and perhaps even advisory position in the development of larger scale plants funded and owned by larger businesses that will presumably want scale sodium plants located within the supply chains across asia and Europe. Its not always about IP, experience counts and is just as valuable in this industry. Those that go it alone from a clean sheet are so often doomed to failure. The US has already seen a number of large scale failed LiPo production line ventures, government supported as well, we are talking factories that had customer assurances for products from the super giants there such as General Motors. In this industry, there is no room for arrogance!

[darrin1471] 23/8/2022 16:32

"Due to the high value nature of AMTE Power's products, a factory can be profitable at a smaller scale than the size of factories at multiple GWh size"

Unless AMTE has unique IP for their batteries, then high value batteries soon become low value commodities. Which is what the consumer needs.
Lots of companies have IP but work arounds can make the IP invalid or the cost of defending IP becomes prohibitively expensive.
They may be able to licence production. Sector may get hyped up again. I will watch with interest.
mrf Thanks for the heads up.

[my retirement fund] 23/8/2022 10:24

Many of the top scientists in the industry are now publicly advocating Sodium ion technology as a credible, its chemistry is safer and often a much cheaper alternative replacement for lithium iron phosphate applications.

Although I have not been able to test sodium cells myself (yet), the sheer number of credible industry experts who are discussing the chemistry positively and in public (youtube now full of videos for example), leads me to conclude it may just have a very big future.

AMTE are have a unique opportunity with the momentum they have built in this field amongst British businesses in this field and are certainly the only UK listed business in this field I am aware of.

[my retirement fund] 23/8/2022 10:08

Chart wise this is starting to look interesting as its about to find the 200day MA support, whilst a 20/50 cross and 50ma is supporting. A golden cross is not very far away really. The update is extremely encouraging.


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[ireminisces] 23/8/2022 09:58

AMTE POWER PLC

("AMTE Power", "AMTE" or the "Company")

Operational and Trading Update

"Powering ahead with battery cell production and strategic plans"

AMTE Power Plc, the developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets, is pleased to provide an update ahead of announcing its full year results for the year ended 30 June 2022.

AMTE is a leading high-performance battery cell developer and one of the only companies manufacturing battery cells in the UK today with established commercial partnerships in place. The business operates at the heart of the UK's drive towards net zero carbon emissions and has a range of high-performance lithium and sodium ion cells along with an extensive IP portfolio. AMTE is currently focused on the delivery of high-performance cells into the energy storage and specialist automotive markets.

Highlights:

-- Automotive sector Ultra High Power cells:
o Extensive on-going trials show the cells have consistently achieved a full charge within six-minutes.

o Cells manufactured on GigaFactory equipment at UKBIC delivering exceptionally well against the Company's target specification at ever increasing volumes.

o Five non-binding MoUs signed with key automotive partners: Cosworth, Viritec, MAHLE Powertrain, Sprint Power and BMW.

-- Energy storage sector Ultra Safe cells:
o Cell development is nearing completion having reached its energy density specification of 140 Wh/kg.

o Planned to commence production at Thurso later this year for delivery to customers for initial evaluation and project and supply validation.

-- Ultra Prime: initial sales expected to commence in FY24, with production centred on Thurso.
-- Overall pipeline of opportunities in excess of GBP240m.
-- Focusing on the Thurso production facilities and UKBIC will enable AMTE Power to leverage its competitive advantages and development pipeline to drive the next stage of its growth towards the MegaFactory

-- AMTE Power plans to have its new, state of the art 0.5GWh MegaFactory in Dundee ready within three years. The facility will be capable of producing more than 8 million cells with a revenue stream in excess of GBP200m.

-- Company is trading in line with the Board's expectations.
Operational successes

AMTE Power continues to make good progress in accordance with its plans across its three core cell products: Ultra High Power, Ultra Safe and Ultra Prime. These differentiated products are focused on the high power, specialist automotive and energy storage sectors, with properties outpacing other cells currently in the market. The business currently has a number of key commercial opportunities for its products and a strengthening overall pipeline of opportunities being discussed with an unweighted value in excess of GBP240m.

Ultra High Power

These cells are ideally suited to key automotive sectors of high-performance electric vehicles, hybrid vehicles, and fuel cell electric vehicles, with an increasing number of automotive original equipment manufacturers ("OEM") committing to fuel cell electric vehicle production.

The Ultra High Power cells that are currently being produced on GigaFactory production equipment at the UK Battery Industrialisation Centre ('UKBIC') are delivering exceptionally well against the Company's target specification, at ever increasing volumes. Testing shows a very low internal resistance, which allows both very fast charging and exceptional power delivery.

Extensive trials have taken place and whilst tests are still ongoing, the cells have consistently achieved a full charge within six-minutes in initial testing, with further tests planned in the coming weeks. This builds upon 1,000 charging tests previously completed and supported by Imperial College.

The Company has currently signed five non-binding memoranda of understanding for the cell with key automotive partners as it moves toward supply contracts that will be supported by AMTE's Dundee MegaFactory scale up, as announced on 28 July 2022. Combined, these steps will significantly reduce risk of delivery.

Ultra Safe

With the continued challenges on pricing of key materials for batteries, there is significant interest in AMTE Power's sodium ion cell, Ultra Safe, for energy storage systems. This cell uses no lithium, cobalt or copper and is more cost effective, safer and sustainable than lithium cells. It is, therefore, viewed as a natural alternative for many applications to lithium-based battery products, with interest and engagements through much of the value chain from major energy generators to home energy storage producers.

Cell development is nearing completion, with the cell having reached its energy density specification of 140 Wh/kg. It has been designed for energy storage applications and is planned to commence production at Thurso later this year for delivery to customers for initial evaluation and project and supply validation. In March 2022, the Company announced a contracted initial order of 1,000 cells from AceOn for its portable energy storage unit. The Board anticipates that further contracts will be entered into as AMTE prepares to invest in its Dundee MegaFactory.

Ultra Prime

Ultra Prime 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, access and long duration of charge retention are key considerations.

AMTE Power's Ultra Prime cell continues to progress to schedule and to demonstrate the performance expected. AMTE Power has a contracted supply agreement in place for this cell and is now progressing to initial supply and trials with that customer.

Route Map to Commercial Sales

In order to execute on strong interest from customers of its Ultra High Power cells, the Company is seeking to utilise the UKBIC where the UK Government has invested GBP130m into a high-rate cell production facility. Discussions are ongoing with the UKBIC in relation to this, with the expectation of initial customer purchase orders being contracted later in the year, followed by larger volume contracts, underpinning the construction of the Dundee MegaFactory.

For its Ultra Safe cell, the Company will look to utilise its Thurso site to initially supply product to customers, prior to moving to the Dundee MegaFactory.

For its Ultra Prime cell the Company will look to utilise its Thurso site to supply product to customers with initial sales expected to commence in FY2024.

Focusing on the Thurso production facilities and UKBIC will enable AMTE Power to leverage its competitive advantages and development pipeline to drive the next stage of its growth towards the MegaFactory.

MegaFactory

AMTE Power plans to have its new, state of the art 0.5GWh MegaFactory in Dundee ready within three years. The facility will be capable of producing annually more than 8 million cells with a revenue stream in excess of GBP200m.

Due to the high value nature of AMTE Power's products, a factory can be profitable at a smaller scale than the size of factories at multiple GWh size, benefiting from quicker commissioning time, more flexibility in location, less investment and a faster path to profitability. AMTE Power considers this as a strong stepping- stone towards building GigaFactories in the future.

AMTE Power has received an indicative offer letter from Scottish Enterprise regarding a potential package of funding and business support and discussions continue towards a final grant. The Company will provide further updates as appropriate.

The Company's Australian joint venture company, Bardan Cells, continues to pursue its commercialisation strategy to manufacture, leveraging the Ultra Storage cell which is planned to be completed in the calendar year.

Commercial Market Backdrop

AMTE Power is working on new commercial partnerships, as well as progressing existing commercial and development partnerships including with Cosworth, Viritec, MAHLE Powertrain, Sprint Power and BMW, towards firmer commercial agreements.

The Directors believe that installations of home energy storage batteries will rise from 6GWh in 2019 to 155GWh annually by 2030 (Source: Bloomberg). Currently only five per cent of the energy used to heat homes today comes from low-carbon sources and massive growth is expected as part of the transition to net zero in the next 15 to 20 years.

In the electric vehicle market, the UK Government has set a 2030 deadline to end the sale of petrol and diesel cars. In addition, legislation is coming into force in just two years' time which will stipulate that batteries for electric vehicles made in the EU or UK need to be manufactured with at least 50 per cent of locally sourced materials by value in order to avoid tariffs.

Financial Performance & Notice of Results

The Company is trading in-line with the Board's expectations and expects to announce its full year results for the year ended 30 June 2022 in November.

Broadening Management Team

As AMTE Power progresses towards commercialisation of its high-performance advanced cells and building its MegaFactory, the Board is undertaking a process to complement the senior executive and wider management team in order to put in place additional skills and expertise for the next stage of the business' growth.

AMTE Power's Chief Financial Officer, James Hobson, has advised the Board that he has received an approach concerning a new role, which he is considering. He would in any case not leave AMTE until 30 November 2022, and will play a full and active role in the business and support a seamless transition.

Kevin Brundish, CEO, AMTE Power, said:

"It is an exciting time for AMTE Power. We are on the cusp of commercial volume production for our high-value cells, and we continue to see a huge amount of customer interest in our products. Our products and expertise will play a fundamental part in the UK energy transition, and we remain passionate about reaching a net zero economy.

We are today confirming that the business is trading in line with our expectations. Looking ahead, the AMTE Power team is working incredibly hard on all fronts to deliver on our range of products and strategic goals. We look forward to keeping all stakeholders updated on our future successes."

[adrian j boris] 23/8/2022 09:15

Amte Power PLC said Tuesday that it is performing in line with its expectations, and it is close to commercial volume production for its high-value cells.

The manufacturer of lithium-ion and sodium-ion battery cells said that it has received strong interest for its Ultra High Power cells, and that it will look to use the U.K. Battery Industrialization Centre, or UKBIC, where the U.K. government has invested 130 million pounds ($153 million) into a high-rate production facility.

Discussions are continuing with UKBIC, with the expectation of initial customer purchase orders being contracted later in the year, followed by larger volume contracts, it said. Amte has an overall pipeline of opportunities exceeding GBP240 million.

"We are today confirming that the business is trading in line with our expectations. Looking ahead, the Amte Power team is working incredibly hard on all fronts to deliver on our range of products and strategic goals," Chief Executive Kevin Brundish said.

The company didn't disclose any figures, but for the year ended June 30, 2021, it posted a pretax loss of GBP4.0 million and turnover of GBP2.0 million.

Amte also said Chief Financial Officer James Hobson has received an approach concerning a new role, which he is considering, though he wouldn't leave until Nov. 30.



Write to Joe Hoppe at [e-mail]



(END) Dow Jones Newswires

August 23, 2022 03:27 ET (07:27 GMT)

[my retirement fund] 10/8/2022 08:46

Looking extremely overbought on the daily, although a trend change. I think the recent bounce may be more to do with developments in the sodium chemistry arena, more than anything as there are other companies with far more more credibility in this arena who seem leaders of the pack, many now been proving and demonstrating the viability of this chemistry with R&D teams publishing peer reviewed real world science to back it up.
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[shrout] 05/8/2022 09:01

see above re. MOU with Cosworth.

[pinkfoot2] 29/7/2022 12:29

I wouldn’t be building a business based on Nicola Sturgeon at the moment.

[givmesunshine] 28/7/2022 15:29

made the BBC News - I see a big reate here.