Equipmake Holdings - Bus Repowers Contract with Golden Tours
03/06/2024 07:00
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RNS Number : 7539Q Equipmake Holdings PLC 03 June 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").
3 June 2024
Equipmake Holdings plc
("Equipmake" or the "Company")
Successive Contract for 10 Zero Emission Bus Repowers with Golden Tours
Equipmake, the electrification engineering specialist pioneering a range of
integrated electrification products for the automotive, aerospace, bus, coach
and off-highway industries, is pleased to announce that further to its
announcement on 12 February 2024, the Company has secured a successive
contract with Golden Tours, to repower a further ten Volvo B5 London Tour
Busses, using its in-house developed Zero-Emission Drivetrain.
The drivetrain, an integrated systems solution, includes Equipmake motors,
control systems, inverters, HVAC and battery packs. This contract follows the
Company's announcement in February of a £2 million initial order from Golden
Tours and illustrates the scaling of initial customer relationships as product
is delivered and customers derive the operational benefits of electrification
within their fleets. It also further strengthens the Company's forward order
book for the year ending 31 May 2025.
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 commence delivery of these ten repowered buses over the
coming months.
Commenting on the contract, Ian Foley, CEO, Equipmake said: "Golden Tours is
a leading tour and activity company in London and across the UK, and I am
pleased to announce it has followed its February order with another
substantial commitment for Equipmake repowered buses. This new contract is
testament to the quality and reliability of our products and reflects an
increasing move in the sector towards sustainable operational alternatives.
"Equipmake's bus repowering provides an economically compelling alternative to
purchasing new electric vehicles and we are delighted that we are able to
support Golden Tours as it works to make its fleet sustainable."
Mikesh Palan, Managing Director at Golden Tours, added: "By extending our
relationship with Equipmake through this new order, Golden Tours is ensuring
its operations are as sustainable as possible. We offer bus services to the
UK's most famous and iconic locations, and by partnering with Equipmake, we
will enhance our services for thousands of passengers a day. The cutting-edge
capabilities of Equipmake's Zero-Emission Drivetrain and its many cost,
sustainability and efficiency advantages highlighted clear benefits of this
continued partnership. We look forward to bringing these electric busses into
service and continuing to put sustainability at the forefront of our business
strategy."
**ENDS**
For further information, please contact:
Equipmake Via St Brides Partners
Ian Foley, Founder and CEO
Tony Ratcliffe, 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 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.
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