Equipmake Holdings PLC GBP1.475m Electric Bus Repower Contract (1135I)
03 August 2023 - 8:00AM
UK Regulatory
TIDMEQIP
RNS Number : 1135I
Equipmake Holdings PLC
03 August 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").
Equipmake Holdings plc
("Equipmake" or the "Company")
GBP1.475m Electric Bus Repower Contract with Newport
Transport
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 GBP1.475m contract with a new
customer, Newport Transport, to repower eight double deck buses,
utilising its integrated zero emission drivetrain system.
Highlights
-- GBP1.475m contract to repower eight double deck buses, for
use on school and city services throughout the Newport area of
South Wales.
-- First Equipmake repowered Newport Transport vehicle is
expected to enter service in early 2024 - with all vehicles
anticipated to be delivered, and revenue recognised, in the current
financial year.
-- Five diesel ADL E400s and three hybrid Volvo B5LHs to be
converted to fully electric, in a further utilisation of
Equipmake's state-of-the-art, zero emission drivetrain system,
encompassing in-house designed battery, motor, inverter and control
system.
-- Each B5LH vehicle will have a 218kWh battery system,
providing a c.90-mile daily range suitable for school routes, and
the E400s will be repowered with a 382kWh battery system, providing
a c.150-mile range, suitable for a combination of school and city
routes.
-- Each bus conversion is expected to save c.90 tonnes of
embedded CO(2) in comparison to a newly manufactured electric
double deck bus, in total of c.720 tonnes of CO(2) saving.
-- Further example of strong market traction in the
electrification of commercial vehicles, through the replacement of
internal combustion solutions with a zero-emission drivetrain
system.
Ian Foley, CEO, Equipmake, said: "We're delighted to partner
with Newport Transport, another forward-thinking operator who sees
the huge benefits to its business model and the environment of
repowering its fleet. It's rewarding to see that our sustainable
and readily available solution will be used to reduce emissions on
school and city routes throughout the Newport area. Repowering
existing buses offers operators an excellent opportunity to help
them rapidly achieve their zero-emission targets, while making
significant cost savings over buying brand new electric buses."
Scott Pearson, Managing Director, Newport Transport, added:
"This partnership with Equipmake is an obvious next step for us as
we continuously reduce the emissions of our operations. Its
state-of-art technology is cost-effective and environmentally
sustainable. We are hugely excited to begin the conversion of these
eight buses and see them on the roads of the local area. Our school
routes are a vital element of our service, transporting hundreds of
students each day. These buses will continue to serve an important
community purpose, but with the added benefit of doing so
emission-free."
**ENDS**
For further information, please contact:
Equipmake Via St Brides Partners
Ian Foley, Founder and CEO
Steven McGillivray, CFO
Panmure Gordon (Corporate Adviser & Joint Tel: +44 (0) 20 7886
Broker) 2500
John Prior / James Sinclair-Ford / Freddie
Twist
Hugh Rich / Sam Elder
VSA Capital Limited (Joint Broker) Tel: +44 (0) 20 3005
Simon Barton / Simba Khatai / Alex Cabral 5000
St Brides Partners (Financial PR Adviser) Tel: +44 (0) 20 7236
Susie Geliher / Paul Dulieu 1177
equipmake@stbridespartners.co.uk
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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