A MAJOR Scottish battery factory has entered into administration in a blow to the UK’s net zero industry.
AMTE Power, which has its manufacturing plant in Thurso, had also planned a 0.5GWh half-gigafactory in Dundee to make batteries for potential clients including BMW and Cosworth.
The plans for the £190 million megafactory, which bosses said would create 215 jobs on the site and 800 more in the supply chain, have been scrapped.
The company warned earlier this year of its substantial financial troubles and needed urgent help from existing shareholders or a new backer to continue trading.
AMTE said in a stock market notice: “The board has no other options to secure finance in the time available and has therefore concluded that the company has insufficient funds to continue trading.”
Directors have filed a notice of intention to appoint administrators, with FRP advisory launching a process to find a buyer.
AMTE had a long history in developing lithium cells, and recently tested cells that can be charged fully in six minutes, which would be a breakthrough for charging technology.
The company have been approached for comment, with the number of staff impacted not yet confirmed.
