AMTE Power to form Australian battery cells joint venture with InfraNomics
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AMTE and InfraNomics joint venture 'paves way for planned gigafactory' in Western Australia. Photo: AMTE
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Scotland-based lithium-ion and sodium-ion battery cells developer AMTE Power is to form a joint venture with Australian infrastructure firm, InfraNomics, to make cells for energy storage products.
Under a heads of terms agreement, the companies will form Bardan Cells – to be based in the state of Western Australia – to develop the manufacturing, sales and distribution business.
Bardan will operate from the state’s ‘Lithium Valley’ Kwinana Industrial zone, an area near Perth dedicated to the development of lithium-related products.
The partners said "current plans are to build an initial manufacturing plant, leading to a planned gigafactory to capture a portion of the growing market for niche power storage applications”.
The joint venture announcement follows AMTE’s selection last month as the lead supplier for a new UK government-funded three-year project – Ultra – focused on bringing two AMTE Power lithium-ion batteries to automotive readiness.
Meanwhile, AMTE said it would also work with sodium-ion battery tech developer Faradion, which is based in the UK city of Sheffield. The collaboration grants AMTE a licence to manufacture and sell sodium-ion cells using Faradion’s technology, to be incorporated into battery packs for energy storage systems in defined areas of use and geographic regions.
Last week, AMTE reported a "successful” 12 months in a trading update, following its admission to the Alternative Investment Market (AIM) – a sub-market of the London Stock Exchange – after the company announced an initial public offering (IPO) earlier this year.
AMTE’s admission to AIM last March came with an oversubscribed placing, which raised gross proceeds of £12.9m.
CEO Kevin Brundish said: "Following our IPO, our intention is to build upon our ongoing collaboration and continue to utilise our production plant to scale and transfer Faradion’s existing new cell technologies to volume manufacture.”
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Under a heads of terms agreement, the companies will form Bardan Cells – to be based in the state of Western Australia – to develop the manufacturing, sales and distribution business.
Bardan will operate from the state’s ‘Lithium Valley’ Kwinana Industrial zone, an area near Perth dedicated to the development of lithium-related products.
'Planned gigafactory'
The partners said "current plans are to build an initial manufacturing plant, leading to a planned gigafactory to capture a portion of the growing market for niche power storage applications”.
The joint venture announcement follows AMTE’s selection last month as the lead supplier for a new UK government-funded three-year project – Ultra – focused on bringing two AMTE Power lithium-ion batteries to automotive readiness.
Meanwhile, AMTE said it would also work with sodium-ion battery tech developer Faradion, which is based in the UK city of Sheffield. The collaboration grants AMTE a licence to manufacture and sell sodium-ion cells using Faradion’s technology, to be incorporated into battery packs for energy storage systems in defined areas of use and geographic regions.
Oversubscribed IPO
Last week, AMTE reported a "successful” 12 months in a trading update, following its admission to the Alternative Investment Market (AIM) – a sub-market of the London Stock Exchange – after the company announced an initial public offering (IPO) earlier this year.
AMTE’s admission to AIM last March came with an oversubscribed placing, which raised gross proceeds of £12.9m.
CEO Kevin Brundish said: "Following our IPO, our intention is to build upon our ongoing collaboration and continue to utilise our production plant to scale and transfer Faradion’s existing new cell technologies to volume manufacture.”
Related article in our archive: