AMTE Power and Britishvolt are pleased to announce plans to investigate
collaborating to build the UK’s first full cycle battery cell GigaPlant, servicing the automotive and
energy storage markets. Both parties have signed a memorandum of understanding (MoU) focussed
on each other`s complementary ambitions to create and expand an onshore manufacturing supply
chain. The successful outcome of the collaboration would enable scalable production of a diverse
product portfolio of lithium ion batteries to support the country’s Road to Zero targets and
unprecedented transition to electrification.

Kevin Brundish, CEO at AMTE Power comments: “We are delighted to be working with Britishvolt
exploring the creation of a large scale manufacturing facility in the UK, and thank APC for introducing
us. The recent global crisis has further highlighted the importance of having a robust onshore supply
chain, and the creation of a GigaPlant would place the UK in a strong position to service automotive
and energy storage markets. The scalable production of lithium ion cells is key to electrifying vehicles
and would drive new manufacturing revenues and new employment, and can be built on AMTE’s focus
on the supply of specialised cells, thereby continuing the country’s tradition of excellence in battery
cell innovation.”

Lars Carlstrom, CEO at Britishvolt, comments: “Aligning our objectives with AMTE Power, who are
looking to add to their current manufacturing capabilities in the UK, our ambition is to build a 30+
gigawatt hour factory with the support of the British Government, creating up to 4,000 jobs in the
process. Meeting Road to Zero targets and moving the UK into a low carbon economy will necessitate
the unprecedented electrification of vehicles, and reliance on renewable energy will require extensive
battery storage. It is costly and carbon-intensive to have lithium ion batteries imported from the Far
East, and this GigaPlant would cement a solid onshore supply chain to ensure quality and eliminate
future uncertainty of supply.”

Ian Constance, CEO of APC, comments “Positive changes in consumer perception leading to increased
demand and technological advances in battery innovation make for a healthy electric vehicle
landscape. The UK is a highly credible location for green growth investment. It has a rich and diverse
supply chain, a rapidly decarbonising energy supply and an innovation culture, and government
support through a strong industrial strategy. As the pace and scale of change accelerates towards new
net zero targets the UK is in a prime position to design, develop, manufacture and export high-value
battery technologies. It is a positive testament that AMTE power and Britishvolt recognise the full
potential of the UK and have identified it as a priority for their battery industrialisation explorations.”