After the massive commercial breakthroughs of sodium-ion batteries, and the potential this has to boost the toll processing capacity in the field of battery production it is somewhat surprising that another specialist manufacturer is facing major difficulties.
AMTE Power, based in Thurso in the Scottish Highlands, has, according to BBC News, announced it is going into administration due to a lack of money to continue trading.
The company, which specialised in electric batteries for HGVs and performance vehicles and was one of the first companies in the world to make lithium-ion batteries, was aiming to expand into a new Dundee gigafactory before having to bring in administrators FRP in the hopes of finding a buyer so the company can continue.
Whilst the extent of the issue is new, AMTE Power has been struggling with its cash flow for months, with reports as early as April 2023 that the company was short on finances to fund its ambitious plans for expansion.
By July the company had days to find additional money before the company would be forced to call in administrators, and whilst a short-term bridging loan was indeed set up, this was less a calculated move to clear the way for a potential long-term buyer and more a roll of the dice to buy more time.
Much of this chaos calls to mind the struggles of Britishvolt, a similar battery production company based in the UK that had grand plans to build a gigafactory, only for them to be scuppered as the company entered greater financial difficulties.
What is unfortunate is that whilst these two British-owned companies are struggling significantly, there are a lot of huge battery manufacturing opportunities available for businesses ready to commit.
In the same summer that AMTE was struggling, Jaguar Land Rover had secured funding to build a major battery production facility, and the viability of sodium-ion provided a significant shift to the market.