Lithium-ion battery cell developer and manufacturer AMTE Power has received the London Stock Exchange’s Green Economy Mark.
It follows the company announcing its intention to raise £7 million through a placing of new ordinary shares on the Alternative Investment Market (AIM) sub-market of the London Stock Exchange in January.
The green classification recognises those companies listed on both the London Stock Exchange and AIM that are driving a green economy. Companies and funds must derive 50% or more of total annual revenues from products or services that contribute to the green economy.
Kevin Brundish, CEO of AMTE Power said the company was “delighted to have qualified for the Green Economy Mark”.
"As a developer and manufacturer of battery cells the green agenda is central to our business and so it's especially valuable to us that we have received this independent recognition."
The Green Economy Mark relies on the Green Revenues data model developed by FTSE Russell. This methodology provides a detailed taxonomy of goods, products and services deemed environmental to recognise both 'pure-play’ green technology companies and those contributing to the transition to a sustainable, low carbon economy across all industries.
Denzil Jenkins, interim CEO of the London Stock Exchange plc, gave his congratulations to AMTE Power on receiving the Green Economy Mark.
“There is growing investor demand for actionable climate and environment-related financial information, with global asset allocations to green and sustainable finance increasing each year,” he said. “The Green Economy Mark underlines London Stock Exchange’s commitment supporting issuers and investors in the transition to a greener economy.”