|
Equipmake Holdings PLC on Friday said it has received on order worth £5.5 million from Brazilian vehicle manufacturer, Agrale SA, lifting its live order book above £10 million. Equipmake is a Norfolk, England-based maker of electric motors, inverters and zero-emission electric drivetrains and power electronic systems. Its shares shot up 54% to 2.15 pence at Friday midday on London’s Aquis Exchange. Equipmake said the order sees it supply electric drivetrain systems for 50 Agrale buses of different types, with it including coverage of its own non-recurring enginerring costs. This new order follows an initial order placed by Agrale back in August of last year for five zero emission drivetrains, which it noted have been succesfully delivered. The new order terms will see the delivery of the electric drivetrain systems in batches running through to the middle of next year, said Equipmake, with each possessing an advance payment and secured by ‘an irrevocable letter of credit confirmed by a UK clearing bank.’ Equipmake noted that the contract brings its live order book above £10 million. ‘This expansion of our partnership with Agrale represents a significant step for Equipmake and reflects the Company’s move to generate higher margin product and technology sales. Supplying electric drivetrain systems for 50 buses is a major milestone in our joint mission to bring zeroemission mass transit to South America. This growing success story reflects the trust Agrale places in our solutions and our shared commitment to developing a robust sustainable transport network in the region,’ said Equipmake Chief Executive Ian Foley. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
