AMTE Power, the battery manufacturer, has received a £580,000 loan from Highlands and Islands Enterprise for general working capital purposes to support the group’s operations in Thurso.
The company, which intends to build a megafactory in Dundee, remains in discussions with HIE regarding the possibility of a further loan to be used for similar purposes.
Alan Hollis, CEO of AMTE Power, said the loan “demonstrates our future contribution to the local community.”
AMTE Power plc (LON:AMTE) is a recognised brand in the production of high-quality lithium-ion batteries across a range of markets including automotive, aerospace, defence, oil & gas and energy storage. They have been been producing cells for over 30 years at their factory in Scotland, which can trace its roots back to the birth of lithium-ion battery cell technology, first patented in the UK.