Surface Transforms plc (LON:SCE) has announced that it has been notified of its selection as a tier one supplier of a carbon ceramic brake disc to a battery electric vehicle automotive company – previously described by Surface Transforms as “OEM 9”.
The selection is for Surface Transforms to be the standard fit, sole supplier of the carbon ceramic brake disc on both axles of a new variant of an existing model. The lifetime revenue on this contract is estimated to be approximately £13m over 5 years. The Company expects series production to commence in early 2024. The contract is priced in GBP.
OEM 9 is a new “disruptor” entrant to the battery electric vehicle market and, along with OEM 8 was one of the two anticipated new contracts underpinning the 2021 fundraising.
Kevin Johnson, Surface Transforms CEO commented: “This most welcome award, our sixth contracted OEM, is the culmination of several years engineering activity. The contract was won due to our product’s technical superiority in exacting head-to-head trials. We are in discussions with OEM 9 on additional opportunities and hope to make further announcements in due course.”
