AMTE says it’s financial situation ‘critical’

20 Jul AMTE says it’s financial situation ‘critical’

London, 20 July, 2023, (Oilandgaspress) – AMTE Power, Britain’s only homegrown battery cell maker, has warned it will collapse within days unless it receives a fresh injection of cash. Shareholders look set to walk away with nothing should AMTE collapse, with the group warning ‘the prospects for recovery of value’ by equity investors ‘would be remote.’. AMTE shares slumped over 50 per cent early on Thursday and were down 45.52 per cent or 3.76p to 4.50p in late morning trading. The group’s shares have fallen over 90 per cent in the last year.

The group specialises in lithium-ion and sodium-ion cells used in high performance electric vehicle batteries and long-duration energy storage.

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