- Lithium has risen in popularity in recent years as electric vehicles have started gaining mass attention.
- Li-ion cells have several industrial uses, notably for the development of batteries for EVs.
Lithium has several industrial uses and is a key component for the manufacture and production of rechargeable batteries, which can be used in smartphones and other such electronic devices and also for the development of batteries that are fitted in electric vehicles.
Given the recent rise of electric vehicles, this has led the demand for lithium to more than double in the last ten years. While the pandemic temporarily impacted the sector, it is once again set to bounce back.
According to data from industry research company IBIS World, while the lithium battery manufacturing sector suffered a decline of 21.1 per cent between 2020-2021 due to a collapse in demand, the sector is now on the pathway to recovery.
The report added that the lithium battery manufacturing industry’s revenue rose at a compound annual rate of 12 per cent touching £211.5 million, between 2016-17 and 2021-2022.
Most of the UK publicly listed lithium stocks include companies involved in mining. However, there are some who are involved in battery making, while the rest are privately held companies.
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There are about 39 companies operating in this sector in the UK. In this article, we take a closer look at the 5 leading lithium battery companies in the UK:
- AMTE Power PLC (LON: AMTE)
AMTE Power is the developer of lithium-ion cells in specialist markets. The company listed on the LSE’s sub market the Alternative Investment Market (AIM), earlier this year in March, it is a constituent of the FTSE AIM All-Share index.
AMTE Power recently announced that it was selected as the leading supplier for a new 3-year project, partly funded by the UK’s government’s Advanced Propulsion Centre (APC).
The company’s market cap stands at £78.00 million.
- Accutronics Ltd
Accutronics is a privately held and UK based battery design and manufacturer and is one of the leading companies in the UK which manufacturers lithium ion batteries. It has among the highest market share in the Li-ion battery manufacturing industry.
Accutronics uses small scanners which are half the size of a standard credit card as a way to boost the life cycle of diagnostic devices, which are used by maintenance workers working on automated unsupervised robots.
This allows the company to increasingly move towards a lights-out manufacturing approach, as the sector has seen increasing pressure from the ongoing pandemic to reduce its physical workforce and move towards full automation.
- Hyperdrive Innovation Ltd
Hyperdrive Innovation is another privately held and UK based Li-ion battery system design and manufacturing company. It is also among the leading battery manufacturers in the sector.
Hyperdrive was acquired by US based sustainable technology startup Turntide Technologies in June. The acquisition would help to include an energy storage facility as part of Turntide’s offerings.
- AGM Batteries Ltd
AGM Batteries is another leading UK based and privately held company involved in the manufacturing of lithium batteries. The company’s estimated annual sales stand at US$ 2.52 million.
- ENVISION AESC UK LTD
ENVISION AESC is a privately held lithium battery maker based in Sunderland in the UK. The company generates about US$ 397.82 million in sales on an annual basis and is among the leading companies in the sector.