Equipmake Holdings - £1.75m Electric Bus Repower Contract
29/09/2023 07:00
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RNS Number : 0837O Equipmake Holdings PLC 29 September 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").
29 September 2023
Equipmake Holdings plc
("Equipmake" or the "Company")
£1.75m Electric Bus Repower Contract with Big Bus Tours
And
Notice Of Results
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
£1.75m contract (the "Contract") by the World's largest sightseeing company,
Big Bus Tours Limited ("Big Bus"), to repower a fleet of Ankai London Buses
utilising its integrated zero emission drivetrain system.
Highlights
· £1.75m contract is to repower 10 Ankai double-deck, sightseeing
buses for use on tourist services around London.
· The Contract includes one Ankai London Bus trial vehicle which the
Company is currently repowering and will be used by Big Bus for training and
evaluation purposes.
· All vehicles will be converted from diesel to fully electric with the
Company's Zero-Emission Drivetrain technology including a 327kWh battery
system, providing in excess of 120-mile daily range.
· Each bus conversion is expected to save c.90 tonnes of embedded CO(2)
in comparison to a newly manufactured electric double deck bus.
· The 10 buses under the Contract are expected to be delivered by April
2024.
· The Contract further illustrates the growing financial and
environmental demand for the repowering of existing vehicles by UK bus
operators.
Ian Foley, CEO, Equipmake, said: "I am pleased to report that having received
an initial order for a trial vehicle from Big Bus Tours, it has now decided to
further its partnership with Equipmake with this contract. We are delighted to
be helping Big Bus reduce the emissions of its fleet and this contract
illustrates the growing demand for repowering vehicles, and the increasing
shift towards clean, less polluting electric mass transport vehicles in our
cities. We look forward to delivering Big Bus with a quality product that
people visiting London from across the world will experience, as a
demonstration of the possibilities that our pioneering electrification
products and services can provide."
Gerry Price, Executive Vice President, Big Bus Tours said: "Our partnership
with Equipmake will significantly support us as we transition our fleet to
zero emissions. The state-of-the-art technology it has developed and its
shared commitment to sustainability makes this a hugely exciting opportunity
for us. Through innovations like this, we will be playing our part in
improving the capital's air quality and giving the hundreds of thousands of
tourists who use our sightseeing services every year an even more enjoyable
experience."
Notice of Results
Equipmake is also pleased to announce that it will be releasing its audited
results for the financial year ended 31 May 2023 on Monday, 2 October 2023.
**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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