Equipmake Holdings PLC Grant from the Advanced Propulsion Centre
May 11 2023 - 1:00AM
RNS Non-Regulatory
TIDMEQIP
Equipmake Holdings PLC
11 May 2023
Reach - non-regulatory announcement
11 May 2023
Equipmake Holdings plc
("Equipmake" or the "Company")
Hydrogen Electric Integrated Drivetrain Initiative Grant from
the Advanced Propulsion Centre
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 report further details relating to the recently
announced GBP1.6 million grant for the development of
electrification technology for electric vehicles.
The grant, as announced by the Company on 28 April 2023, was
awarded by Innovate UK in conjunction with the Advanced Propulsion
Centre ("APC") to a consortium of businesses to demonstrate the use
of a novel printed circuit board ("PCB") hydrogen fuel cell in
electric vehicles. The consortium expects to develop an integrated
fuel cell battery hybrid system, featuring Equipmake's motor,
inverter, and related technologies, suitable for the commercial and
passenger vehicle markets. As previously announced, Equipmake will
produce a DC-DC converter for integration into an 800v fuel cell
and will develop a battery management system and thermal management
system. The latter will be used to design the cabin heating/cooling
requirements.
The grant project is known as the Hydrogen Electric Integrated
Drivetrain Initiative ("HEIDI"). The consortium is led by Bramble
Energy Limited, the UK-based manufacturer of PCB fuel cell stacks
and systems, with Aeristech Limited and the University of Bath
joining Equipmake Limited as project partners.
The HEIDI project forms part of the APC22: Industrialising
net-zero automotive technology competition. Equipmake Limited, a
wholly owned subsidiary of Equipmake, has been allocated with a
grant of GBP1.6 million, on a matched funding basis.
Commenting on the project, Ian Foley, CEO of Equipmake said: "We
are delighted to have been recognised by Innovate UK and the
Advanced Propulsion Centre for our pioneering work in the electric
vehicle development and repowering industries. We believe that our
technology and electrification products have wide-ranging
applications across the transport sector, and we are excited to be
working with our consortium partners to further the implementation
of green power across the commercial and passenger vehicle
markets."
**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.
About Innovate UK
Innovate UK is the UK's national innovation agency and supports
business-led innovation in all sectors, technologies and UK
regions. Its objective is to help businesses grow through the
development and commercialisation of new products, processes, and
services, supported by an innovation ecosystem that is agile,
inclusive, and easy to navigate.
About the Advanced Propulsion Centre ("APC")
The APC was established in 2013 to help the automotive industry
meet the challenges of decarbonisation identified by the Automotive
Council.
Its relationship with the automotive industry, and the political
and academic landscape means collaboratively it drives the right
commercial and strategic outcomes for the benefit of the UK.
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END
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