Receipt of £2.4m purchase order from UK EV OEM

RNS Number : 1052W

Trackwise Designs PLC

20 December 2021

 

20 December 2021

TRACKWISE DESIGNS PLC

("Trackwise" or the "Company")

Receipt of £2.4m purchase order from UK EV OEM customer

Trackwise Designs (AIM: TWD), a leading provider of specialist products using printed circuit technology, is pleased to confirm the receipt of the Q2 2022 purchase order of £2.4m, in accordance with the P roduct Manufacture and Supply Agreement ("the Agreement") with its UK EV OEM customer. This Q2 purchase order follows the previously received 2022 forecast, and the £0.39m purchase order for Q1 2022.

The Agreement is for the supply of the Company's Improved Harness Technology™-enabled ("IHT") flexible printed circuit boards for use in high and low voltage circuits in the manufacturer's vehicle battery modules and battery packs. Trackwise's technology reduces part count and assembly time while saving on space and weight.

Philip Johnston, CEO of Trackwise, commented:

"I am pleased to confirm the receipt of this Q2 purchase order, signalling the expected ramp-up in demand from our EV OEM customer throughout 2022."  

Enquiries

Trackwise Designs plc	[phone]
Philip Johnston, CEO	www.trackwise.co.uk
Mark Hodgkins, CFO
finnCap Ltd	[phone]
NOMAD and Broker
Ed Frisby/Kate Bannatyne/Tim Harper - Corporate Finance Andrew Burdis/Barney Hayward - ECM
Alma PR	[phone]
Financial PR and IR
David Ison/Caroline Forde/Josh Royston/Kieran Breheny

Notes to editors

Trackwise is a UK-based manufacturer of specialist products using printed circuit technology.

The full suite includes: Improved Harness Technology™ ("IHT") and Advanced PCBs - Microwave and Radio Frequency ("RF"), Short Flex, Flex Rigid and Rigid Multilayer products.

IHT uses a proprietary, patented process that Trackwise has developed to manufacture multilayer flexible printed circuits of unlimited length. While the technology has many applications, the directors expect that one of its primary uses will be to replace traditional wire harness in a variety of industries.

The Company manufactures on two sites, located in Tewkesbury and Stevenage (following the acquisition of Stevenage Circuits Ltd in April 2020). It serves customers in Europe and North America. The Company has acquired a third site in Stonehouse Gloucestershire initially for its EV programme.

Trackwise Designs plc was admitted to trading on AIM in 2018 with the ticker TWD. For additional information please visit www.trackwise.co.uk

 

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