AMTE.L Regulatory News (AMTE)

26 April 2023

 REACH

AMTE Power Plc

("AMTE Power" or the "Company")

MOU re zero-emission, circular copper supply with CalPac Resources

AMTE Power, a leading UK developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist applications in growing markets, is pleased to announce that it has signed a memorandum of understanding ("MOU") with CalPac Resources Limited ("CalPac Resources"), which is developing novel technology derived from green hydrogen manufacturing to refine copper from industry scrap.

The MOU is intended to see AMTE Power explore the use of CalPac Resources' recycled copper technology to produce the anode material in its Ultra High Power, Ultra Safe and Ultra Prime products, thereby contributing to delivering the UK's net zero goals. 

Copper resources are expected to come under increasing pressure as decarbonisation efforts ramp up, with a projected global deficit of up to 9.9m tonnes by 2035. The UK is the world's fourth largest copper waste exporter and with no copper refineries in the country, millions of tonnes currently have to be imported for manufacturing each year.

The partnership marks a step forward in decarbonising UK battery production and establishing a homegrown supply chain that can underpin a wider British battery ecosystem. 

Both AMTE Power and CalPac Resources are planning to build facilities at the Michelin Scotland Innovation Parc (MSIP) in Dundee. MSIP was announced last year as AMTE Power's preferred location for its first Gigafactory.

Tom Anderson, Managing Director at CalPac Resources, said: "This move represents a solid shift towards a truly circular industrial economy. AMTE Power will be the first battery manufacturer to use 100% local and zero-process-emission copper in its batteries, a ground-breaking development in UK battery manufacturing."

John Valentine, Supply Chain Director at AMTE Power, said: "We are making strong progress in securing the critical materials needed for our cells as we scale up production ahead of delivering our first Gigafactory. Working with UK-based, sustainable producers is absolutely a priority for us reflecting our wider ESG strategy, and that is why CalPac Resources is the ideal fit. Our partnership demonstrates the potential to create an end-to-end battery industry here in the UK, powering the net zero economy of the future and unlocking green collar jobs."

ENDS

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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 CalPac Resources Ltd.

CalPac Resources was founded in 2021 to take on the challenge of securing safe, sustainable supply chains. CalPac's flagship product is green, entirely circular and zero emissions copper. Based on innovative green hydrogen technology. CalPac Resources is part of an ever growing UK based energy transition consortia focused on servicing a growing UK battery and renewables industry.

For more information visit: https://calpacresources.com