Equipmake Holdings - Appointment of new Chief Operating Officer

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")

Board Changes & Appointment of new Chief Operating Officer

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 the appointment of Dr Nicholas Moelders as Chief Operating Officer and Executive Director with immediate effect.  Dr Moelders will be working across the Company's international operations, with a base in the U.S., and his appointment is intended to provide further support for Equipmake's global expansion plans, targeting key electrification markets.  He will take over from Mr James Bishop, who is stepping down from his position as Chief Operating Officer and Director of the Board with immediate effect.  The Board would like to thank Mr Bishop for his contributions and wish him the best for the next stage of his career.

Dr Moelders has extensive experience across the electrification sector and has held a number of senior executive roles with prominent industry leading organisations. For the past seven years, Dr Moelders has held key managerial leadership roles at Sensata Technologies, a $4bn company with 21,000 employees that develops electrification products and power conversion solutions across industrial, aerospace and automotive markets.  During his tenure at Sensata Technologies, he worked as both Vice President of Electrification Strategy and latterly Vice President and General Manager of Clean Energy Solutions.  Prior to his roles at Sensata Technologies, Dr Moelders also held Vice President and senior leadership roles at blue-chip and mid-cap engineering and technology companies including Cummins Power Generation, a global leader in the power generation industry, and latterly with battery, charger and power solutions supplier, Inventus Power.

Ian Foley, CEO of Equipmake, commented: "Nick is a pre-eminent figure in the electrification industry and I am delighted to announce his appointment as Chief Operating Officer.  Nick brings with him over two decades of experience in the sector and importantly, given his expertise and global network, including within our key market in the U.S., he will provide access to substantial and rapidly growing North American electrification markets.  Furthermore, his presence as an executive director on the board is intended to provide further high-level support and strategic insights as Equipmake continues to deliver on its ambitious growth strategy."

Disclosures required pursuant to Rule 4.9 of the Aquis Growth Market Apex Rulebook

Dr Moelders has no current or previous directorships to declare. He does not hold any securities issued by the Company.

Save as set out in this announcement there are no further details to be disclosed in connection with the appointment of Dr Moelders as a director of the Company pursuant to Rule 4.9 of the Aquis Growth Market Apex Rulebook.

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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 conventional 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.