A battery maker has set out plans to invest in its North East factory including recruiting more than 250 workers over the next five years.
Alexander Battery Technologies (ABT), which specialises in customised rechargeable batteries for a range of industries from medical devices to robotics, says it has seen recent growth and is targeting £100m annual sales in the next four years. The £18m turnover firm employs around 110 people and manufactures lithium-ion batteries from its Peterlee base.
It now has ambitions to grow its customer base in the EU and UK as half of its existing sales are to the US and 47% going to Europe. Accounts show the firm, which led the Fastest 50 list of growing North East firms in 2021, grew turnover last year from £14m in 2022 as it secured a number of big contracts last year, including in the e-mobility sector for an e-motorbike maker.
