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Dundee has been selected as the location for a new plant generating batteries for the UK’s renewable energy and electric vehicle markets.
AMTE Power, which develops and manufactures lithium-ion and sodium-ion battery cells for specialist markets, has announced a proposal to set up a “megafactory” in Scotland after its board approved a new execution strategy.
He said the plan, which will require an investment of £160 million to £190 million, is a “solid springboard for the construction of gigafactories in the future”.
The new megaplant will allow the company to deliver high-value battery cells faster to meet growing demand, with planned capacity enabling the production of more than 25,000 batteries per day.
It is also expected to bring many new jobs to the region, creating 215 on-site positions and 800 roles in the broader supply chain progression and operations.
Revenues of over £200 million consistent with the year are expected in full production.
The plant is expected to be financed through classic, government-backed subsidies, debt and equity.
AMTE has already won an indicative letter of offer from Scottish Enterprise in a possible financing and commercial support package.
The plant is expected to be operational and in production by the end of 2025.
Kevin Brundish, Managing Director of AMTE Power, said: “The megaplant will be a platform from which AMTE will be able to leverage our complex in-house functions to build production plants that meet the massive demand for battery cells, allowing us to build production and momentum – stay on track to net zero.
“Battery cells will enable the UK’s energy transition and with this investment we will play a key role in electrifying the vehicles, homes and industries of the future.
“Dundee is the ideal place for a megafactory; you have knowledge of the local industry and are close to our existing and long-lasting electric garage market. We look to the future to keep all stakeholders informed about our progress. »
Scottish Business Minister Ivan McKee said: “The Scottish Government is very pleased to have been informed that AMTE Power has selected Dundee as the preferred one for its first megaplant.
“Battery generation is found in many sectors, from transportation to industry, to reduce greenhouse fuel emissions.
“Today’s announcement builds on AMTE’s existing presence in Thurso and has the prospect of creating many more sustainable green jobs, in line with the Scottish Government’s objectives of strengthening Scotland’s position in new markets and industries and a leader in zero-emission mobility, generating new, well-paying jobs from a just to zero transition.
“The Scottish Government will continue to work with our corporate agencies and local partners to move AMTE forward with its plans. “