Equipmake Holdings - Big Bus Repower Contract Doubled to 20 Buses
10/01/2024 07:00
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RNS Number : 1623Z Equipmake Holdings PLC 10 January 2024
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")
Big Bus Repower Contract Doubled to 20 Buses and £3.5m
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 further to the
announcement on 29 September 2023, the Company's contract with Big Bus Tours
Limited ("Big Bus") has been doubled to repower a fleet of 20 buses for a
total of £3.5 million.
Highlights
· Initial contract to repower a fleet of 10 Ankai London Bus class
buses has been extended by 100% to a fleet of 20 buses.
· Equipmake is repowering the 20 buses utilising its integrated
zero emission drivetrain system.
· The 20 repowered buses are expected to be delivered by June 2024,
with thirteen buses delivered by May 2024, and two buses delivered per month
thereafter.
· Batteries in the repowered buses will have a range of 120 miles
and a minimum life of eight years.
· The extended contract with Big Bus provides an additional £1.75m
of revenue for the Company, with the total contract now worth £3.5m.
Ian Foley, CEO, Equipmake, said: "Our industry leading integrated zero
emission drivetrain system continues to impress new and existing customers, as
evidenced with the extension of this contract with Big Bus Tours. This
contract extension will increase their repowered fleet by 100% and
demonstrates both the quality and efficacy of our products, and also the level
of investment being made by businesses across the transport spectrum as they
move towards a net zero future.
"We look forward to delivering the 20 repowered buses to Big Bus over the
coming year, and providing further updates to the market as we roll out our
products and IP across multiple sectors internationally."
Gerry Price, Executive Vice President - Group Operations at Big Bus Tours
added: "As part of our drive for global net zero, Equipmake's performance to
date with the development of the first 10 buses ordered made the decision to
increase the number an easy one and will further progress our class leading
zero emissions status in the London tourism market."
**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
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
conventional 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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