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Dutch company saves jobs with deal for battery firm Thurso IG News

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Richard Bloomfield, Ian Corfield and Michelle Elliot of restructuring specialist FRP Advisory were appointed administrators of the company on 19 January. This evening, FRP announced that it has completed the sale of AMTE Power’s battery cell manufacturing and Thurso manufacturing business and assets to LionVolt.

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LionVolt is a subsidiary of Eindhoven-based battery innovator LionVolt BV, which develops 3D solid-state batteries designed to provide high performance, fast charging, safety and durability.

In a statement this evening, the trustees said the transaction with LionVolt sees the battery manufacturing facility in Thurso converted to produce LionVolt’s innovative batteries and involves the transfer of 20 jobs to the town. However, the remaining 15 employees in Milton, England were made redundant.

Mr Bloomfield, director at FRP and joint trustee of AMTE Power, said: “The takeover by LionVolt presented the best opportunity to secure jobs and meet our statutory obligations to creditors. The transaction follows an exhaustive sales process and the search for new investments. It is vital that it maintains a large number of jobs and ensures that battery cell manufacturing continues in Scotland. We wish the LionVolt team all the best for the future.

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“We are working with the affected staff at the AMTE Power site in Milton and will support them in their claims to the Redundancy Service.”

AMTE’s slide into administration appears to have dealt a blow to hopes that Scotland could become a hub for battery manufacturing. It was reported that the company planned to build a £190m gigafactory in Dundee, which would create 215 local jobs and 800 in its supply chain.

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