MoU with MAHLE Powertrain to supply UHP cells

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	[phone]
Kevin Brundish (Chief Executive Officer)
James Hobson (Chief Financial Officer)
WH Ireland Limited (NOMAD and Joint Broker)	[phone]
Chris Fielding / Ben Good
Panmure Gordon (UK) Limited (Joint Broker)	[phone]
John Prior / Harriette Johnson (Corporate Finance)
Hugh Rich (Corporate Broking)
Camarco	[phone]
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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