This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of
24 November 2022
Equipmake Holdings PLC
("Equipmake" or the "Company")
Equipmake agrees strategic partnership with leading electric aerospace propulsions specialist to advance electric aircraft
Equipmake Holdings Plc, the
Under the terms of the purchase order, which is worth an initial consideration of approximately
The electric motors will be developed using a new design based on Equipmake's existing proprietary rotor design. The motors will be designed and manufactured at the Company's base in Snetterton,
Ian Foley, CEO, Equipmake said: "We are delighted to be working with this partner, a leading provider of electric propulsion solutions and battery pack systems, on this project to supply our lightweight, power dense, electric motors. We are looking forward to supporting the team beyond the development phase, right through to test flights and full production of the aircraft."
"Such projects reflect ongoing demand for Equipmake's products and solutions both abroad and in the
For further information, please contact:
Ian Foley, Founder and CEO
Steven McGillivray, CFO
Panmure Gordon (Corporate Adviser & Broker)
John Prior / James Sinclair-Ford / Soman Thakran (Corporate Finance)
Hugh Rich / Sam Elder (Corporate Broking)
Tel: +44 (0)20 7886 2500
MHP (Financial PR Adviser)
Tel: +44 (0)20 3128 8100
Equipmake is a
Equipmake 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 too.
Equipmake believes that its vertically integrated solution will enable it to offer more competitive pricing than others, who are integrating bought-in system components, with the benefit of higher margins.
Following a number of years of engagement with potential customers, the Company now has a significant pipeline of opportunities, as demand for electric vehicles increases as part of the global decarbonisation movement.
Equipmake listed on the Aquis Stock Exchange Growth Market in July 2022 and the