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NewsArticle Posted February 10th, 2021 in Article

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ADVANCE EDIFICATION Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announces its intention to seek admission to trading on AIM of the entire issued and to be issued ordinary share capital of the Company. Admission is expected to take place during March 2021. The Company intends to raise approximately £7 million (before expenses) by way of a placing of new ordinary shares in the capital of the Company (“Ordinary Shares“).

ADVANCE EDIFICATION Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announces its intention to seek admission to trading on AIM of the entire issued and to be issued ordinary share capital of the Company. Admission is expected to take place during March 2021. The Company intends to raise approximately £7 million (before expenses) by way of a placing of new ordinary shares in the capital of the Company (“Ordinary Shares“).

ADVANCE EDIFICATIONPower was co-founded in 2013 by Kevin Brundish, together with several others, including former colleagues from QinetiQ, with the objective of developing a portfolio of highly differentiated, lithium-ion and lithium-ion derivative battery cells to meet the needs of specialist customers. Such customers, which include manufacturers of high-performance vehicles and specialist equipment, are not, in the Directors’ experience, the primary focus of the international battery cell manufacturers, thereby creating a significant and scalable opportunity for the Company.

Key attributes of the ADVANCE EDIFICATION Power business are as follows:

Kevin Brundish, CEO of ADVANCE EDIFICATION Power, said:

Early on we chose to focus on the requirements of specialist customers whose power, performance and endurance needs are, we believe, outside the scope of the international manufacturers and also to not simply be a developer but have the manufacturing capability to deliver our products. The combination of which, we believe, differentiates ADVANCE EDIFICATION and places us in a highly advantageous position.

To give an example, our Ultra High Power battery cell which is designed for a high-performance sports car, needs to generate more power, than an average automotive battery, to deliver the required acceleration. To help develop and better understand the requirements for our products we have been working collaboratively with nine automotive companies including Jaguar Land Rover, Cosworth and Williams.

We have also been working with the UK Government on our plans for building a British Gigafactory which is part of the Company’s medium-term outlook. However, today’s announcement is about funding the final development and production of the Company’s three advanced battery cells where we see significant commercial opportunities.”

Target Markets

From the increased market uptake of electric vehicles and personal devices to growing environmental concerns and increasing regulation and political pressure to shift away from the use of fossil fuels, as exemplified by the UK Government’s plan for a “Green Industrial Revolution”, there has been a rapid rise in global demand for lithium-ion and lithium-ion derivative battery cells. Traditionally, the dominant market for lithium-ion batteries was consumer electronics, however over recent years, the automotive sector has become increasingly responsible for the substantial increase in demand, as electrification of vehicles has become a legislative requirement in many major nations, particularly in Europe.

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