Equipmake Holdings - Textron Agreement to Electrify De-Icing Vehicles

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").

14 October 2024

Equipmake Holdings plc

("Equipmake" or the "Company")

Agreement With Textron to Electrify Airside De-Icing Vehicles

Equipmake, a market leader in engineering-driven differentiated electrification technologies, products and solutions across the automotive, truck, bus and speciality vehicle industries, is pleased to announce it has signed a manufacturing and supply agreement ("Agreement") with Textron Ground Support Equipment Inc. ('Textron'), a leading global manufacturer of airport ground support vehicles.

Highlights:

·    Equipmake will supply its Zero Emission Drivetrain ("ZED") for use in Textron's Safeaero 220 airside de-icing vehicle

·   Following delivery of the ZED, Textron will add its new Safeaero 220E electrified de-icing vehicle to its aviation ground support equipment product line

·  Equipmake's electrification technology will assist Textron in achieving its sustainability targets as it transitions its product range to zero emission

Under the new Agreement, Equipmake expects to supply a version of its Zero Emission Drivetrain - a fully integrated system, including motors, control systems, inverters, HVAC, and battery packs - tailored to meet the specific operational requirements of Textron's Safeaero 220 airside de-icing vehicle. Revealed at GSE Expo in Lisbon, Portugal, the next-generation electrified Safeaero 220E will benefit from the ZED's integrated thermal management system to ensure reliable de-icing at low temperatures, while building on the Safeaero 220's highly efficient single-person operation with quiet, emissions-free performance.

Following successful trials by Textron in early 2024 of an initial ZED equipped vehicle, Equipmake expects to now move to agree production volumes with Textron and commence ongoing supply to be used in Textron's new Safeaero 220E electrified de-icing vehicle that will be added to its aviation ground support equipment product line.

Ian Foley, CEO, Equipmake said: "Textron is a world leading manufacturer of specialised airport ground support vehicles. Its selection of Equipmake for the electrification of the Safeaero 220 de-icer is a considerable endorsement of both our innovative products and cutting-edge technology, and our ability to apply them in new, important, industry sectors. We are proud to be supporting Textron as it transitions its product range to zero emissions to meet its sustainability goals."

Matt Chaffin, Vice President and General Manager, GSE for Textron Specialised Vehicles Inc. said: "Partnering with Equipmake and integrating its advanced zero-emission electric powertrain into the Safeaero 220 further delivers on our mission of electrifying the next generation of dependable, efficient and high-performing ground support equipment. We are delighted to be working with Ian Foley and his team."

**ENDS**

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About Equipmake

Equipmake is a UK-based industrial technology company specialising in the engineering, development and production of electrification products to meet the needs of the automotive and other sectors in support of the transition from fossil-fuelled to zero-emission drivetrains. 

Equipmake is a leader in high performance technologically advanced electric motors, inverters and complete zero-emission electric drivetrains and power electronic systems. Equipmake has developed a vertically integrated solution providing fully bespoke solutions to its customers. The Company is focussed on accelerating traction with OEM and Tier 1 suppliers in relation to higher margin component and drivetrain supply under long-term growth contracts.

Key differentiators of the Company offerings are its advanced technology and performance, reliability and adherence to ASIL-D² functional safety. Equipmake's advanced motor and inverter technology, featuring ASIL-D compliance, are designed to customers' highest Functional Safety standards. With decades of experience in electric drivetrain integration and a dedicated prototype vehicle testing facility, Equipmake can significantly accelerate product development for customers.

² Automotive Safety Integrity Level ("ASIL") is a risk classification scheme defined by the ISO 26262 - Functional Safety for Road Vehicles standard and is a critical requirement for road vehicles. Of the four ASILs identified by the standard, ASIL-D dictates the highest integrity requirements on the product, which require exceptional rigour in their development.