AMTE Power PLC Australian Joint Venture (8299N)
04 October 2021 - 5:00PM
UK Regulatory
TIDMAMTE
RNS Number : 8299N
AMTE Power PLC
04 October 2021
4 October 2021
AMTE POWER PLC
("AMTE Power" or the "Company")
Australian Energy Storage Joint Venture & Confirmation of
Plans to Build and Fund a 200,000 cell micro production line in
Australia's Lithium Valley
AMTE Power plc ("AMTE Power" or the "Company"), a developer and
manufacturer of lithium-ion and sodium-ion battery cells for
specialist markets, is pleased to announce a joint venture
agreement with InfraNomics Technologies Pty Ltd ("InfraNomics") and
advanced plans to build a 200,000 cell micro production line in
Australia's Lithium Valley.
The 50:50 joint venture will operate through Bardan Cells Ltd
("Bardan") and be based in Kwinana, Western Australia. InfraNomics,
which focuses on energy technologies and services, is responsible
for capital fund raising, providing local expertise, establishing
local sovereign supply chains and supporting the development of
Bardan. AMTE Power will provide Bardan with the licenced technology
and manufacturing expertise to build cells for use in energy
storage systems.
In 2018, AMTE and InfraNomics, recognised the commercial
opportunity to become a leader in Australia's battery cell
manufacturing sector and began a collaboration which has resulted
in the formalisation of the joint venture being announced today.
The joint venture marks the transition from feasibility study and
detailed business plan to the construction of a micro production
line. Bardan's objectives are:
-- To ultimately build a Gigafactory to manufacture Lithium ion
battery cells capable of producing between 1-2GWh per annum for use
in energy storage systems in Australia
-- The business will operate from the "Lithium Valley" Kwinana
Industrial Area, a major industrial area and a centre for Lithium
related products, raw materials and local technical expertise.
-- As a forerunner to the Gigafactory, a 200,000 battery cell
micro production line will be built, to refine the manufacturing
processes from AMTE's Thurso plant, implement new technologies and
develop local sovereign supply chains.
-- Following a formal Expression of Interest process, the
Kwinana Industrial Area south of Perth was identified as the
preferred location for the micro factory and potentially the
Gigafactory
-- Bardan is proud to offer local and international customers
robust, safe, premium performance products, developed using the
most advanced manufacturing techniques available worldwide, for use
in long term Net Zero Carbon power storage solutions.
Kevin Brundish, Chief Executive Officer of AMTE Power, said:
"The more our cells are in production, whether that be in the UK
or Australia, all adds to the commercial appeal of our portfolio of
cells. Bardan is attractive as a stand alone investment proposition
for us, given the anticipated demand in Australia for energy
storage solutions, but at the same time, Bardan is attractive as a
further test platform for our technologies and will be particularly
useful additional experience and proof to investors and customers
of our capabilities as we pursue the development of our UK based
Gigafactory. For Bardan, there is no doubt the combination of our
licensed technology and knowledge of battery cell manufacturing at
scale is an excellent fit with InfraNomics' capital raising
capabilities, local market and supply chain knowledge. We believe
Bardan can play a significant role in Australia's future cell
production supply line."
Cameron Edwards, Director and Founder at InfraNomics
commented,
"The relationship with AMTE provides Bardan and its customers
the advanced technological expertise required to make world-class
products suitable for extreme environments. The global
transformation of energy is one of the largest growth markets in
the world and we are delighted to be playing a role in reshoring
manufacturing in the Australian energy sector and creating an
essential piece in the critical raw materials value chain."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
For further information contact:
AMTE Power plc Tel: +44 (0)1847 867 200
Kevin Brundish (Chief Executive Officer)
Adam Westcott (Chief Financial Officer)
WH Ireland Limited (NOMAD and Joint Broker) Tel: +44 (0)207 220 1666
Chris Fielding / Ben Good
SI Capital Limited (Joint Broker) Tel: +44 (0)1483 413 500
Nick Emerson / Nick Briers
Novella Communications Tel: +44 (0)203 151 7008
Tim Robertson / Fergus Young
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 automotive
industry, oil and gas market and energy storage sector. AMTE'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 the Company's website:
www.amtepower.com
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END
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