AMTE Power (LSE:AMTE) is sprinting ahead after a very recent IPO, announcing Wednesday that it has already received the Green Economy Mark from the London Stock Exchange.
The Green Economy Mark applies to London-listed Main Market and AIM companies “driving the global green economy”. This is definitely true of AMTE, which is now driving forward in the expanding battery space.
The company’s goal is to develop lithium ion and lithium-ion derivative batteries for specialist customers. These customers include high-performance vehicle and specialist equipment makers, which are far from being the main focus for other battery makers.
AMTE has chosen this relatively neglected space and tailored its products to fit their unique needs.
AMTE’s strong portfolio of products includes an Ultra High-Power product for the automotive industry able to consistently “deliver power at a very high rate” with no fault. It is already being included in “key automotive and motorsport programmes” and is set for release in the final quarter of 2021.
The firm is also set to release its Ultra Prime cells in the fourth quarter of 2023. These are non-rechargeable, with particularly high energy density and high temperature performance, making them suitable for “some of the most difficult environments”.
These kinds of high-endurance batteries are not simple to design, as lithium ion batteries react poorly to overheating – with sometimes explosive results. It is amazing, then, that AMTE’s director believes Ultra Prime could “operate for up to six years at a temperature of 125°C”.
This product is already the subject of a seven-year agreement with an undisclosed “tier 1 oil and gas industry equipment supplier.”
Alongside these kinds of batteries, AMTE has also designed its Ultra Safe sodium-ion batteries, which are “inherently safe” and can be used in transportation and energy storage, as well as in remote locations. The release date for these batteries will be the third quarter of 2022.
Prototypes of these battery products are all available now.
As ever more countries crack down on petrol and diesel vehicles, this seems like the perfect soil in which to grow AMTE’s business.
Norway is currently in the lead, planning a quick halt the sale of fossil fuel-powered cars starting in just 2025. The UK will follow suit in 2030 and Japan in the mid-2030s. In the US, California intends a halt to selling passenger cars and trucks and cars that use gasoline in 2035.
The EU is also proposing a ban, having made its zero emissions target for 2050 legally binding. Hitting that target requires this step to be sure of hitting the mark. China, too, is considering a ban.
With the approximately £7 million raised from its recent float, AMTE is well-positioned to fulfil its exciting ambitions in this fascinating space.