Equipmake Holdings PLC - UK manufacturer & developer of electrification products for electric vehicle drivetrains - Partners with an unnamed electric aerospace propulsions specialist to supply motors for an electric aircraft. Says the purchase order is worth an initial consideration of about GBP400,000. Equipmake will supply "bespoke, high-performance, electric prototype motors for use in an electric aircraft". Full production of the aircraft is currently targeted for 2024. Says the motors will be designed and manufactured in Snetterton in the UK, for delivery next year.
Chief Executive Officer Ian Foley says: "Such projects reflect ongoing demand for Equipmake's products and solutions both abroad and in the UK, and our plans to scale our operations to meet this demand remain on track."
Current stock price: last traded on Nov 16 at 6.5 pence
12-month change: up from 4.25p initial public offering price in July
By Xindi Wei; xindiwei@alliancenews.com
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