The agency specialised in growing high-performance electrical automobile batteries and long-duration power storage.
The agency developed electrical automobile batteries at websites within the UK (Picture: Getty)
A UK battery producer is ready to break down after a multi-million pound deal fell by. AMTE Energy, which was based in 2013 with places of work in Abingdon, Oxfordshire, primarily developed lithium-ion and sodium-ion cells utilized in high-performance electrical automobile batteries and long-duration power storage. The agency admitted it was struggling to cowl the prices of a deliberate 200-job gigafactory in Dundee, Scotland, in June 2023, however later struck a £2.5 million funding take care of personal fairness agency Pinnacle.
Pinnacle then collapsed, forcing AMTE Energy into administration; the belongings have been ultimately offered to Dutch agency LionVolt, saving round 20 jobs. However the firm, together with its area title, logos and patents, now seems to have totally folded, with a discover of motion from administration to dissolution filed earlier this yr.
The corporate had been planning to open a 200-job manufacturing facility in Dundee (Picture: Getty)
An announcement from the directors in January mentioned: “Regardless of our efforts, no proceedable provides have been realised for the above and these belongings weren’t realisable.”
AMTE Energy was the one battery cell producer of its form based in Britain, and pleas have been made to the Authorities for monetary help after it bumped into bother three years in the past, Metropolis AM stories.
On the time of its collapse, the agency oversaw manufacturing and manufacturing companies primarily based in Thurso, Scotland, in addition to 15 England-based workers, who have been made redundant within the LionVolt acquisition.
Information of the agency’s impending collapse comes amid a tricky financial local weather for companies throughout the UK, with the variety of firms collapsing into administration rising 30% year-on-year in February.
The Insolvency Service mentioned firm administrations totalled 146 final month, sustaining the excessive ranges recorded in January, when 152 corporations referred to as in directors.
A number of high-profile firms have gone bust because the starting of 2026, together with restaurant chain TGI Fridays, equipment retailer Claire’s and, most not too long ago, automotive park operator NCP.
The day’s largest headlines in UK and World information and extra Subscribe Invalid e-mail
We use your sign-up to supply content material in methods you’ve got consented to and to enhance our understanding of you. This will embrace adverts from us and third events primarily based on our understanding. You possibly can unsubscribe at any time. Learn our Privateness Coverage
Specialists have additionally warned that the influence of the Iran conflict on inflation and rates of interest may result in an additional rise in firm failures, placing hundreds extra jobs in danger.
The Specific has contacted the directors.
Leave a Reply