AMTE Power, which has a manufacturing facility in Thurso, collapsed in December, putting 40 jobs at risk and dealing a clear blow to the UK's net zero industry.
The directors filed a notice of intent to appoint administrators and FRP Advisors began the process of finding a buyer.
It has been confirmed that administrators have completed the sale of the business and assets to Dutch battery technology company Lionvolt.
Read more: Scotland's major battery factory may be saved, but dozens of jobs are at risk
The deal with LionVolt will enable the company to repurpose its Thurso battery production facility for the production of LionVolt's innovative batteries and includes the relocation of 20 Thurso-based jobs. However, England's remaining 15 staff have been made redundant.
Richard Bloomfield, director of FRP, said: “The acquisition by Lionbolt represents our best opportunity to secure jobs and meet our statutory obligations to our creditors.” The transaction will undergo a thorough sales process and seek new investment. Importantly, this will secure many jobs and enable battery cell manufacturing to continue in Scotland. We wish the LionVolt team the best of luck in the future.
“We are working with affected staff at the AMTE Power site in Milton and will support their claim for redundancy payment services.”
