This
announcement contains inside information for the purposes of
Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR").
Equipmake Holdings
plc
("Equipmake" or the
"Company")
Bus Repowering Contract
Signed with Golden Tours
Proposed fundraise of
approximately £4m
Equipmake, the UK-based engineering
specialist pioneering the development and production of
electrification products across the automotive, aerospace, bus,
coach and off-highway industries, is pleased to announce that the
Company has secured a contract for £2,000,000 with Golden Tours to
repower a number of its tour buses with the
Company's integrated zero emission drivetrain, that includes
Equipmake's motor, control systems, inverter, HVAC and battery
pack. The contract increases Equipmake's
current order book to £13.1 million.
Golden Tours was established in 1984
and specialises in London sightseeing and UK tourism, providing
high quality tours around the capital and day trips to popular UK
locations such as Stonehenge and Bath. Golden Tours has an
established partnership with internationally renowned Gray Line
Association, the largest sightseeing tour company globally, and is
a preferred partner of Warner Bros. Studio Tour London.
The Company expects to deliver all
the repowers under the contract with Golden Tours in
FY25.
The Company intends to raise c.£4m
to support the Company's international expansion plan and for the
investigation and pipeline development of opportunities in the
United States of America. Further details will be included in a
separate announcement, following this announcement,
today.
Commenting on the contract, Ian Foley, CEO, Equipmake
said: "Golden Tours is a leading tour and activity company in London
and across the UK, with high profile partnerships including the
Gray Line Association, Warner Bros. Studio Tour London, amongst
many others. We are delighted to announce our first contract
with Golden Tours and we are confident that our integrated zero
emission drivetrain system will provide material benefits for the
group by extending the lifespan of these vehicles and also
increasing the reliability of the buses by a significant
margin."
**ENDS**
For further information, please
contact:
|
Equipmake
Ian Foley, Founder and
CEO
Steven McGillivray,
CFO
|
Via St Brides Partners
|
|
Panmure Gordon (Corporate Adviser & Joint
Broker)
James Sinclair-Ford / Freddie
Twist
Hugh Rich / Sam Elder
VSA
Capital Limited (Joint Broker)
Simon Barton / Simba Khatai / Alex
Cabral
|
Tel: +44 (0) 20 7886
2500
Tel: +44 (0) 20 3005
5000
|
|
St
Brides Partners (Financial PR Adviser)
Susie Geliher / Paul
Dulieu
|
Tel: +44 (0) 20 7236 1177
equipmake@stbridespartners.co.uk
|
About Equipmake
Equipmake is the UK-based
engineering specialist pioneering the development and production of
electrification products which are used across the automotive,
aerospace and other sectors in support of the transition from
conventional fossil-fuelled to zero-emission
powertrains.
Equipmake produces ultra-high
performance electric motors and complete EV drivetrains and
ultra-fast power electronic systems. As well as developing
proprietary technology - such as an ultra-compact, lightweight high
performance spoke motor - it also offers bespoke R&D
solutions.
Equipmake has developed a vertically
integrated solution providing fully bespoke solutions. The
Company has built a significant pipeline of opportunities, as
demand for electric vehicles increases as part of the global
decarbonisation movement.