{"id":262815,"date":"2023-06-19T12:52:07","date_gmt":"2023-06-19T10:52:07","guid":{"rendered":"https:\/\/climatescience.press\/?p=262815"},"modified":"2023-06-19T12:52:10","modified_gmt":"2023-06-19T10:52:10","slug":"uk-battery-maker-sees-shares-crash-as-it-needs-to-raise-funds-within-weeks","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=262815","title":{"rendered":"UK Battery Maker Sees Shares Crash As It Needs To Raise Funds Within Weeks"},"content":{"rendered":"\n
\"\"
Rob Lacey Photographer\r Editorial, PR & Corporate Photography\rHeadshots, Conferences & Corporate Events \r\r Based in Cheltenham, Gloucestershire covering the Midlands, South West & London \r\r http:\/\/www.roblaceyphotographer.co.uk<\/a> \r T: 01242 861118 M: 07802 542598<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

From Oil Price.com<\/a><\/p>\n\n\n\n

By\u00a0City A.M\u00a0<\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Lithium-ion and battery producer AMTE Power\u2019s shares crashed more than 70 per cent today, following an announcement that the company needed to raise new funds within the next few weeks.<\/p>\n\n\n\n

AMTE Power \u2013 who are currently set to build a \u00a3200m gigafactory in Dundee \u2013 said in the announcement that it needed to raise more cash in \u201cno less than four weeks,\u201d and that discussions with investors were ongoing.<\/p>\n\n\n\n

It warned that without further funding the \u201crecovery of value\u201d by shareholders \u201cwould be uncertain.\u201d<\/p>\n\n\n\n

The group had previously said in December that it would need to raise more capital by April, in order to meet its operating costs.<\/p>\n\n\n\n

It follows just a day after AMTE\u2019s boss Alan Hollis threatened to build the group\u2019s planned Dundee gigafactory overseas, unless the UK closed the clean energy subsidy gap<\/a> \u2013 although it is not clear what impact today\u2019s announcement would have on the project.<\/p>\n\n\n\n

Any re-arrangement of plans to build the gigafactory would be a blow to the UK\u2019s EV sector, which has come into the spotlight recently following concerns from industry that the UK\u2019s battery manufacturing capacity and competitiveness was sub-par.<\/p>\n\n\n\n

CEO Hollis said on Thursday: \u201cAMTE<\/a> Power is the UK\u2019s only remaining homegrown commercial battery cell maker.  We have established ourselves as a leading player in the sector, with differentiated lithium and sodium-ion technology on the cusp of commercialisation as indicated by our updates to the stock market in recent months.\u201d<\/p>\n\n\n\n

\u201cWe are active in our engagement with stakeholders to raise funding and to communicate the importance of developing a homegrown battery manufacturing industry to enable a just transition to net zero, support the UK\u2019s energy security and unlock green industrial growth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Lithium-ion and battery producer AMTE Power\u2019s shares crashed more than 70 per cent today, following an announcement that the company needed to raise new funds within the next few weeks.<\/p>\n","protected":false},"author":121246920,"featured_media":262820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691820329,691818076,691820330,691818154],"class_list":{"0":"post-262815","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-amte-power","9":"tag-co2","10":"tag-gigafactory","11":"tag-net-zero","13":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0AMTE-Power-is-one-of-the-UKs-largest-battery-cell-makers-1038x778-1.jpg?fit=1038%2C778&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-16mX","jetpack-related-posts":[{"id":292194,"url":"https:\/\/climatescience.press\/?p=292194","url_meta":{"origin":262815,"position":0},"title":"Scottish battery factory goes bust in fresh blow to UK\u2019s net zero\u00a0industry","author":"uwe.roland.gross","date":"21\/12\/2023","format":false,"excerpt":"Eventually they might work out that you cannot create jobs by government diktat!","rel":"","context":"In \"AMTE Power\"","block_context":{"text":"AMTE Power","link":"https:\/\/climatescience.press\/?tag=amte-power"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0valmet-automotive-fabrik-plant-salo-2020-01-min.png?fit=1200%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0valmet-automotive-fabrik-plant-salo-2020-01-min.png?fit=1200%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0valmet-automotive-fabrik-plant-salo-2020-01-min.png?fit=1200%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0valmet-automotive-fabrik-plant-salo-2020-01-min.png?fit=1200%2C600&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0valmet-automotive-fabrik-plant-salo-2020-01-min.png?fit=1200%2C600&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":269419,"url":"https:\/\/climatescience.press\/?p=269419","url_meta":{"origin":262815,"position":1},"title":"Manchester plans world\u2019s largest battery to tackle intermittent wind\u00a0energy","author":"uwe.roland.gross","date":"25\/07\/2023","format":false,"excerpt":"What the storage plant will do is make a decent profit by buying power at low prices during time of surplus, and selling it back at high prices when supplies are tight because of the intermittency of wind power. And guess who will end up paying for those profits?","rel":"","context":"In \"Battery plants\"","block_context":{"text":"Battery plants","link":"https:\/\/climatescience.press\/?tag=battery-plants"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-768.png?fit=1200%2C447&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-768.png?fit=1200%2C447&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-768.png?fit=1200%2C447&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-768.png?fit=1200%2C447&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-768.png?fit=1200%2C447&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":408801,"url":"https:\/\/climatescience.press\/?p=408801","url_meta":{"origin":262815,"position":2},"title":"The Global Climate Tax is Here \u2014 The Climate Realism Show\u00a0#178","author":"uwe.roland.gross","date":"17\/10\/2025","format":false,"excerpt":"On Episode #178 of The Climate Realism Show, we\u2019ll dig into this disturbing and likely illegal UN power grab and cover the week\u2019s Crazy Climate News. Is climate change giving dolphins Alzheimer\u2019s? What the heck is \u201ccarbon butter,\u201d and how does it taste? Is Bill Gates the most dangerous man\u2026","rel":"","context":"In \"\u201cNet Zero Fund\u201d\"","block_context":{"text":"\u201cNet Zero Fund\u201d","link":"https:\/\/climatescience.press\/?tag=net-zero-fund"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0Screenshot-2025-10-17-173019.png?fit=1200%2C670&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0Screenshot-2025-10-17-173019.png?fit=1200%2C670&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0Screenshot-2025-10-17-173019.png?fit=1200%2C670&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0Screenshot-2025-10-17-173019.png?fit=1200%2C670&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0Screenshot-2025-10-17-173019.png?fit=1200%2C670&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":253485,"url":"https:\/\/climatescience.press\/?p=253485","url_meta":{"origin":262815,"position":3},"title":"Biden\u2019s green spending blitz could plunge world into \u2018dark ages\u2019, warns Hunt","author":"uwe.roland.gross","date":"18\/04\/2023","format":false,"excerpt":"Subsidising net zero type so-called climate policies in the US is not only enormously expensive but globally disruptive as well, it seems. Climate protection becoming climate protectionism?","rel":"","context":"In \"Britain\u2019s economy\"","block_context":{"text":"Britain\u2019s economy","link":"https:\/\/climatescience.press\/?tag=britains-economy"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0money-down-the-drain74.jpeg?fit=1200%2C797&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0money-down-the-drain74.jpeg?fit=1200%2C797&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0money-down-the-drain74.jpeg?fit=1200%2C797&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0money-down-the-drain74.jpeg?fit=1200%2C797&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0money-down-the-drain74.jpeg?fit=1200%2C797&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":412920,"url":"https:\/\/climatescience.press\/?p=412920","url_meta":{"origin":262815,"position":4},"title":"Waste of the Day: Michigan\u2019s Chinese Battery Plant Falls Through","author":"uwe.roland.gross","date":"12\/11\/2025","format":false,"excerpt":"Topline: Michigan\u2019s plan to rely on a Chinese company to create American jobs is dead in the water. The state pulled out of an agreement to give Gotion, Inc., $715 million in subsidies for an electric vehicle battery plant, but there\u2019s no guarantee Michigan will recoup the $23.6 million that\u2026","rel":"","context":"In \"Chinese Battery Plant\"","block_context":{"text":"Chinese Battery Plant","link":"https:\/\/climatescience.press\/?tag=chinese-battery-plant"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/11\/AQN1sReRRavT7mMbdStKV9X1msdhAD6C9Te2fwZZbnsuROfxOA9carvlTABKxI_v6kmXAWwYj2XUK9InmmCI79_Kg87djETJa3QumY4ESHZZPh6V9pt__IHIsxZGU_r1dElAtlutlTWo-UAAP_vIYxqwcbI5-A.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/11\/AQN1sReRRavT7mMbdStKV9X1msdhAD6C9Te2fwZZbnsuROfxOA9carvlTABKxI_v6kmXAWwYj2XUK9InmmCI79_Kg87djETJa3QumY4ESHZZPh6V9pt__IHIsxZGU_r1dElAtlutlTWo-UAAP_vIYxqwcbI5-A.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/11\/AQN1sReRRavT7mMbdStKV9X1msdhAD6C9Te2fwZZbnsuROfxOA9carvlTABKxI_v6kmXAWwYj2XUK9InmmCI79_Kg87djETJa3QumY4ESHZZPh6V9pt__IHIsxZGU_r1dElAtlutlTWo-UAAP_vIYxqwcbI5-A.jpeg?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/11\/AQN1sReRRavT7mMbdStKV9X1msdhAD6C9Te2fwZZbnsuROfxOA9carvlTABKxI_v6kmXAWwYj2XUK9InmmCI79_Kg87djETJa3QumY4ESHZZPh6V9pt__IHIsxZGU_r1dElAtlutlTWo-UAAP_vIYxqwcbI5-A.jpeg?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/11\/AQN1sReRRavT7mMbdStKV9X1msdhAD6C9Te2fwZZbnsuROfxOA9carvlTABKxI_v6kmXAWwYj2XUK9InmmCI79_Kg87djETJa3QumY4ESHZZPh6V9pt__IHIsxZGU_r1dElAtlutlTWo-UAAP_vIYxqwcbI5-A.jpeg?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":292512,"url":"https:\/\/climatescience.press\/?p=292512","url_meta":{"origin":262815,"position":5},"title":"Is Consumer Rejection of EVs behind the Lithium Crash?","author":"uwe.roland.gross","date":"24\/12\/2023","format":false,"excerpt":"Lithium prices are down lately, and EV manufacturers, the major users of Lithium, have recently announced substantial cuts to production. 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