Equipmake Holdings PLC Award of GBP1.6 Million Grant (7798X)
2023年4月28日 - 3:00PM
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TIDMEQIP
RNS Number : 7798X
Equipmake Holdings PLC
28 April 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").
28 April 2023
Equipmake Holdings plc
("Equipmake" or the "Company")
Award of GBP1.6 Million Grant
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 announce the award of a grant to participate in a
consortium under which Equipmake will further develop its
electrification technology for electric vehicles. The consortium is
proposing the development of an integrated fuel cell battery hybrid
system, featuring Equipmake's motor, inverter and related
technologies, suitable for the bus and other goods and passenger
vehicle markets.
Equipmake will develop an innovative DC-DC converter for
integration into an 800V fuel cell system and battery system. This
will include the development of the battery management system and
thermal management system to integrate the fuel cell, battery and
powertrain with the cabin heating/cooling requirements. Equipmake
will also integrate the system onto its Jewel E double-decker bus
platform before trialling it.
Under the grant, Equipmake Limited, a wholly owned subsidiary of
Equipmake, has been awarded funding up to GBP1.6m, on a matched
funding basis. The company will provide further details in respect
of the grant in due course.
Commenting on the project, Ian Foley, CEO of Equipmake said: "We
are excited to contribute our considerable electric vehicle
electronic development and repowering expertise to this exciting
partnership. The use of Equipmake's technology continues to grow
rapidly in projects across the UK, and beyond.
"For Equipmake, participation represents the opportunity to
explore an expansion of our bus repowering capabilities by
demonstrating fuel cell, as well as battery, electric solutions and
the potential to capitalise on the clear integration synergies
between systems."
**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 / 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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END
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April 28, 2023 02:00 ET (06:00 GMT)
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