In a trading update published by the firm today, AMTE revealed that Mr Hobson has advised the Board that he has received an approach concerning a new role. The firm stressed that he would in any case not leave AMTE until 30 November 2022, and said that he will play a full and active role in the business and support a seamless transition.

The news comes as AMTE Power announced it is undertaking a hiring process to “complement the senior executive and wider management team” in order to put in place additional skills and expertise for the next stage of the business’ growth.

Last month, Scottish Financial News reported that AMTE POWer selected Dundee as the preferred site for its first MegaFactory.

The new factory will directly create up to 215 high skilled on-site jobs and 800 more across the supply chain by producing the high performance battery cells needed to help electrify vehicles, homes, and industries for the UK’s energy transition.

In the trading update, Kevin Brundish, CEO, AMTE Power, said: “It is an exciting time for AMTE Power. We are on the cusp of commercial volume production for our high-value cells, and we continue to see a huge amount of customer interest in our products.

“We are today confirming that the business is trading in line with our expectations. Looking ahead, the AMTE Power team is working incredibly hard on all fronts to deliver on our range of products and strategic goals. We look forward to keeping all stakeholders updated on our future successes.”