Equipmake Holdings - £1.475m Electric Bus Repower Contract
03/08/2023 07:00
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RNS Number : 1135I Equipmake Holdings PLC 03 August 2023
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")
£1.475m Electric Bus Repower Contract with Newport Transport
Equipmake, the UK-based engineering specialist pioneering the development and
production of electrification products across the automotive, aerospace, bus,
and coach industries, is pleased to announce that is has been awarded a
£1.475m contract with a new customer, Newport Transport, to repower eight
double deck buses, utilising its integrated zero emission drivetrain system.
Highlights
· £1.475m contract to repower eight double deck buses, for use on
school and city services throughout the Newport area of South Wales.
· First Equipmake repowered Newport Transport vehicle is expected to
enter service in early 2024 - with all vehicles anticipated to be delivered,
and revenue recognised, in the current financial year.
· Five diesel ADL E400s and three hybrid Volvo B5LHs to be converted to
fully electric, in a further utilisation of Equipmake's state-of-the-art, zero
emission drivetrain system, encompassing in-house designed battery, motor,
inverter and control system.
· Each B5LH vehicle will have a 218kWh battery system, providing a
c.90-mile daily range suitable for school routes, and the E400s will be
repowered with a 382kWh battery system, providing a c.150-mile range, suitable
for a combination of school and city routes.
· Each bus conversion is expected to save c.90 tonnes of embedded CO(2)
in comparison to a newly manufactured electric double deck bus, in total of
c.720 tonnes of CO(2) saving.
· Further example of strong market traction in the electrification of
commercial vehicles, through the replacement of internal combustion solutions
with a zero-emission drivetrain system.
Ian Foley, CEO, Equipmake, said: "We're delighted to partner with Newport
Transport, another forward-thinking operator who sees the huge benefits to its
business model and the environment of repowering its fleet. It's rewarding to
see that our sustainable and readily available solution will be used to reduce
emissions on school and city routes throughout the Newport area. Repowering
existing buses offers operators an excellent opportunity to help them rapidly
achieve their zero-emission targets, while making significant cost savings
over buying brand new electric buses."
Scott Pearson, Managing Director, Newport Transport, added: "This partnership
with Equipmake is an obvious next step for us as we continuously reduce the
emissions of our operations. Its state-of-art technology is cost-effective and
environmentally sustainable. We are hugely excited to begin the conversion of
these eight buses and see them on the roads of the local area. Our school
routes are a vital element of our service, transporting hundreds of students
each day. These buses will continue to serve an important community purpose,
but with the added benefit of doing so emission-free."
**ENDS**
For further information, please contact:
Equipmake Via St Brides Partners
Ian Foley, Founder and CEO
Steven McGillivray, CFO
Panmure Gordon (Corporate Adviser & Joint Broker) Tel: +44 (0) 20 7886 2500
John Prior / James Sinclair-Ford / Freddie Twist
Hugh Rich / Sam Elder
VSA Capital Limited (Joint Broker)
Simon Barton / Simba Khatai / Alex Cabral Tel: +44 (0) 20 3005 5000
St Brides Partners (Financial PR Adviser) Tel: +44 (0) 20 7236 1177
equipmake@stbridespartners.co.uk
Susie Geliher / Paul Dulieu
About Equipmake
Equipmake is the UK-based engineering specialist pioneering the development
and production of electrification products to meet the needs of the
automotive, aerospace and other sectors in support of the transition from
fossil-fuelled to zero-emission powertrains.
Equipmake is a leader in 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 industry-leading EV consultancy.
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.
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