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Equipmake’s contract with Big Bus Tours doubles in size


AQSE-listed engineering specialist Equipmake [AQSE:EQUIP] said today its contract with Big Bus Tours has been doubled to repower a fleet of 20 buses for a total of £3.5 million. The company said it was on track to deliver 13 buses to Big Bus Tours by May.

Equipmake is working on the development and production of electrification products to meet the needs of the automotive, aerospace and other sectors in support of the transition from conventional fossil-fuelled to zero-emission powertrains.

Equipmake contract doubles in size

The initial contract with Big Bus Tours was to repower a fleet of 10 Ankai London Bus class buses; it has now been extended by 100% to a fleet of 20 buses. Equipmake is repowering the 20 buses utilising its integrated zero emission drivetrain system.

The 20 repowered buses are expected to be delivered by June 2024, with thirteen buses delivered by May 2024, and two buses delivered per month thereafter. Batteries in the repowered buses will have a range of 120 miles and a minimum life of eight years.

The extended contract with Big Bus provides an additional £1.75m of revenue for Equipmake, with the total contract now worth £3.5m.

Ian Foley, CEO at Equipmake, said: “Our industry leading integrated zero emission drivetrain system continues to impress new and existing customers, as evidenced with the extension of this contract with Big Bus Tours. This contract extension will increase their repowered fleet by 100% and demonstrates both the quality and efficacy of our products, and also the level of investment being made by businesses across the transport spectrum as they move towards a net zero future.”

Equipmake is regarded as a leader in ultra-high performance electric motors and complete EV drivetrains and ultra-fast power electronic systems.

Gerry Price, Executive Vice President for Group Operations at Big Bus Tours added: “As part of our drive for global net zero, Equipmake’s performance to date with the development of the first 10 buses ordered made the decision to increase the number an easy one and will further progress our class leading zero emissions status in the London tourism market.”

As well as developing proprietary technology – such as an ultra-compact, lightweight high performance spoke motor – Equipmake also offers industry-leading EV consultancy. It has developed a vertically integrated solution providing fully bespoke solutions and has built a significant pipeline of opportunities, as demand for electric vehicles increases as part of the global decarbonisation movement.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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