UK risks energy tech exodus without funding

NICHOLAS EARL

THE UK risks an exodus of energy technology developers to rival markets unless it provides more funding, the boss of a British battery cell specialist has warned.

Alan Hollis, chief executive of AMTE Power, told City A.M. that the UK government has to support and invest in technologies, such as batteries for electric vehicles, if it wants to maintain its leading role in the net zero race.

“It’s a very costly and time-consuming process to develop technology and then bring it to market,” Hollis said. “I would like to see more government support to the industry as a whole, to see how it can help accelerate the time to market for ourselves and others… so that we can establish the UK as a technology leading, advanced manufacturing country,” he added. Companies have been pushing the UK to boost funding for the sector as the US

Inflation Reduction Act and Biden’s $391bn clean energy package offers a raft of healthy subsidies and tax incentives, while the EU has also vowed to soften state subsidy limits.

“This is what AMTE Power is having to compete against in the world today,” Hollis said.

“We are driving the development cycle for products that we are bringing to market to support the UK automotive industry without the levels of funding and support that perhaps other companies in other countries are currently getting,” he explained. He hinted that the Londonlisted firm, which manufactures lithium ion and sodium ion battery cells typically used in electric vehicles, could look to other markets for future projects instead of the UK if more support wasn’t provided in the long term.