RCS - Trackwise Designs - Receipt of £2.4m purchase order from UK EV OEM

Trackwise DesignsAnnouncement

20/12/2021 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211220:nRST1052Wa&default-theme=true

RNS Number : 1052W  Trackwise Designs PLC  20 December 2021

20 December 2021

 

TRACKWISE DESIGNS PLC

("Trackwise" or the "Company")

 

Receipt of £2.4m purchase order from UK EV OEM customer

 

Trackwise Designs (AIM: TWD), a leading provider of specialist products using
printed circuit technology, is pleased to confirm the receipt of the Q2 2022
purchase order of £2.4m, in accordance with the Product Manufacture and
Supply Agreement ("the Agreement") with its UK EV OEM customer. This Q2
purchase order follows the previously received 2022 forecast, and the £0.39m
purchase order for Q1 2022.

 

The Agreement is for the supply of the Company's Improved Harness
Technology™-enabled ("IHT") flexible printed circuit boards for use in high
and low voltage circuits in the manufacturer's vehicle battery modules and
battery packs. Trackwise's technology reduces part count and assembly time
while saving on space and weight.

Philip Johnston, CEO of Trackwise, commented:

"I am pleased to confirm the receipt of this Q2 purchase order, signalling the
expected ramp-up in demand from our EV OEM customer throughout 2022."

Enquiries

 

 Trackwise Designs                                                                                                                                 +44 (0)1684 299 930
 plc
 Philip Johnston,                                                                                                                                  www.trackwise.co.uk (http://www.trackwise.co.uk)
 CEO
 Mark Hodgkins,
 CFO

 finnCap Ltd                                                                                                                                       +44 (0)20 7220 0500
 NOMAD and Broker
 Ed Frisby/Kate Bannatyne/Tim Harper - Corporate Finance Andrew Burdis/Barney
 Hayward - ECM

 Alma PR                                                                                                                                           +44 (0)20 3405 0205
 Financial PR and IR
 David Ison/Caroline Forde/Josh Royston/Kieran Breheny

 

Notes to editors

 

Trackwise is a UK-based manufacturer of specialist products using printed
circuit technology.

 

The full suite includes: Improved Harness Technology™ ("IHT") and Advanced
PCBs - Microwave and Radio Frequency ("RF"), Short Flex, Flex Rigid and Rigid
Multilayer products.

 

IHT uses a proprietary, patented process that Trackwise has developed to
manufacture multilayer flexible printed circuits of unlimited length. While
the technology has many applications, the directors expect that one of its
primary uses will be to replace traditional wire harness in a variety of
industries.

 

The Company manufactures on two sites, located in Tewkesbury and Stevenage
(following the acquisition of Stevenage Circuits Ltd in April 2020). It serves
customers in Europe and North America. The Company has acquired a third site
in Stonehouse Gloucestershire initially for its EV programme.

 

Trackwise Designs plc was admitted to trading on AIM in 2018 with the ticker
TWD. For additional information please visit www.trackwise.co.uk
(http://www.trackwise.co.uk)

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFFDFWWEFSEIE