(Alliance News) - Equipmake Holdings PLC on Monday said that it has signed a deal for the next phase of its electric motor development contract with H55 SA.

Equipmake is a Norfolk, England-based manufacturer and developer of electrification products for use across the automotive, aerospace, bus, coach and fire truck industries, while H55 is an electric aerospace propulsion company.

The initial contract, worth GBP715,000, is for the development of an electric motor. It follows a development and test phase of Equipmake's motors, which are designed for electric aircraft.

H55 plans to commercialise a 100,000 watt electric propulsion system for its customer project with BRM Aero, using Equipmake's motor.

According to the contract, GBP315,000 of work will be deliverable by the end of May. Certification is planned for the end of the year, with production to start at the beginning of 2025.

"I am delighted to see that our collaboration efforts with H55 - one of the world's leading electric aerospace propulsion companies - is coming to fruition with this contract. This is another validation of our strategy of leveraging our core IP in new markets via collaboration with leading strategic partners," said Chief Executive Officer Ian Foley.

Equipmake shares were up 6.3% at 7.98 pence each in London on Monday.

By Holly Beveridge, Alliance News reporter

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