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AMTE Power float on AIM

March 2021


AMTE Power was founded in 2013 with the objective of developing a portfolio of highly differentiated, lithium-ion and lithium-ion derivative battery cells to meet the needs of specialist customers.

These customers, which include manufacturers of high-performance vehicles and specialist equipment, are not, in the Directors’ experience, the primary focus of the international battery cell manufacturers, thereby creating a significant and scalable opportunity for the Company.

In an era of growing environmental concerns and increasing political pressure and regulation to shift away from fossil fuels, as exemplified by the UK Government’s plan for a “Green Industrial Revolution”, there has been a rapid rise in global demand for lithium-ion battery cells. This has contributed to the value of the global lithium-ion cells market, in which the Company operates, being forecast to grow in value by 15% per annum from 2020 to 2030, to approximately US$110 billion, on the back of a 22 per cent. per annum growth in volume.

Admission to Trading on AIM

On 12th March 2021, admission and dealings commenced in the Ordinary Shares on AIM by way of a Placing of 7,826,816 Ordinary Shares of 0.5 pence each at 175 pence per share raising net proceeds of approximately £11.33 million.

Reasons for the Placing and use of proceeds

The net proceeds of the Placing receivable by the Company will be applied to finance the general working capital requirements of the Company, prior to income generation, comprising principally:

  • maintaining access to its intellectual property;
  • cell development;
  • capital expenditure; and l meeting general overheads.

The Directors believe that Admission will be beneficial to the Company for the following reasons:

  • it will raise the profile and increase the transparency of the Company amongst potential customers, governments and trade bodies in its chosen markets;
  • it will increase the ability of the Company to raise new funds to pursue growth opportunities in the market for highly differentiated battery cells;
  • it will enhance the Company’s ability to attract and retain senior industry talent; and
  • it will enable the Company to issue further new Ordinary Shares as consideration in connection with any acquisition opportunities.

The Perivan shareholder communications team were delighted to work with WH Ireland who were appointed Nominated Adviser, Joint Broker and Joint Bookrunner on this stage of AMTE’s corporate journey, which included the Pre-IPO research distribution using Engage, the corporate and investor interaction platform, followed by the successful production and publication of the 94-page admission document.

Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.

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