AMTE Power PLC (AIM:AMTE) said it has signed an agreement with powertrain developer Viritech to support the development of hydrogen fuel cell electric vehicles.
The deal paves the way for AMTE, the Scottish battery cell specialist, to supply its ultra high power cells for use in Viritech's battery packs on high performance electric vehicle projects, including heavy goods vehicles, light commercial vehicles, marine, aerospace, and distributed power applications and Viritech's hypercar project, Apricale.
Earlier this year AMTE said it anticipates making an announcement within 2022 on new production facilities for its cell types that will enable the business to produce UK-based cells at industrial scale.
The Thurso-based company in April also formed an agreement to accelerate the development of next-generation battery technologies to aid carmakers and start-ups as they ramp up the development of hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs).
AMTE chief executive Kevin Brundish said: "Batteries are essential to the transition to hydrogen electric vehicles and our UHP cells are the perfect fit for this collaboration, with our carefully refined cell chemistry able to fulfil the specific power, weight and safety requirements for Viritech's power trains.
"This partnership will help the EV industry move to net zero emissions while ensuring the UK remains a competitive player in automotive manufacturing."
The shares jumped 10% to 74p on Tuesday morning.