Battery maker feels positive about future

AMTE Power has selected the former Michelin tyre factory in Dundee for the project
A high-performance battery maker has reiterated hopes that its first big manufacturing plant can open in 2025.

AMTE Power selected the former Michelin tyre factory in Dundee for the project in July and expects to be able to make thousands of batteries a day.

Results for the year to the end of June showed a 12 per cent rise in turnover to £2.2 million but a £6 million pre-tax loss, compared with a £3.8 million loss for the year before.

Alan Hollis, the chief executive, said the loss reflected the spending needed to commercialise its technology with “demand expected to accelerate”

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.

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