RCS - Equipmake Holdings - Grant from the Advanced Propulsion Centre
11/05/2023 07:00
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RNS Number : 0300Z Equipmake Holdings PLC 11 May 2023
Reach - non-regulatory announcement
11 May 2023
Equipmake Holdings plc
("Equipmake" or the "Company")
Hydrogen Electric Integrated Drivetrain Initiative Grant from the Advanced
Propulsion Centre
Equipmake, the UK-based engineering specialist pioneering the development and
production of electrification products across the automotive, aerospace, bus,
coach and fire truck industries, is pleased to report further details relating
to the recently announced £1.6 million grant for the development of
electrification technology for electric vehicles.
The grant, as announced by the Company on 28 April 2023, was awarded by
Innovate UK in conjunction with the Advanced Propulsion Centre ("APC") to a
consortium of businesses to demonstrate the use of a novel printed circuit
board ("PCB") hydrogen fuel cell in electric vehicles. The consortium
expects to develop an integrated fuel cell battery hybrid system, featuring
Equipmake's motor, inverter, and related technologies, suitable for the
commercial and passenger vehicle markets. As previously announced,
Equipmake will produce a DC-DC converter for integration into an 800v fuel
cell and will develop a battery management system and thermal management
system. The latter will be used to design the cabin heating/cooling
requirements.
The grant project is known as the Hydrogen Electric Integrated Drivetrain
Initiative ("HEIDI"). The consortium is led by Bramble Energy Limited, the
UK-based manufacturer of PCB fuel cell stacks and systems, with Aeristech
Limited and the University of Bath joining Equipmake Limited as project
partners.
The HEIDI project forms part of the APC22: Industrialising net-zero automotive
technology competition. Equipmake Limited, a wholly owned subsidiary of
Equipmake, has been allocated with a grant of £1.6 million, on a matched
funding basis.
Commenting on the project, Ian Foley, CEO of Equipmake said: "We are delighted
to have been recognised by Innovate UK and the Advanced Propulsion Centre for
our pioneering work in the electric vehicle development and repowering
industries. We believe that our technology and electrification products have
wide-ranging applications across the transport sector, and we are excited to
be working with our consortium partners to further the implementation of green
power across the commercial and passenger vehicle markets."
**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 / 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.
About Innovate UK
Innovate UK is the UK's national innovation agency and supports business-led
innovation in all sectors, technologies and UK regions. Its objective is to
help businesses grow through the development and commercialisation of new
products, processes, and services, supported by an innovation ecosystem that
is agile, inclusive, and easy to navigate.
About the Advanced Propulsion Centre ("APC")
The APC was established in 2013 to help the automotive industry meet the
challenges of decarbonisation identified by the Automotive Council.
Its relationship with the automotive industry, and the political and academic
landscape means collaboratively it drives the right commercial and strategic
outcomes for the benefit of the UK.
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