IN BRIEF: Surface Transforms secures five-year supply contract

Surface Transforms PLC - Liverpool-based manufacturer of carbon fibre reinforced ceramic materials - Picked as tier one supplier for a carbon ceramic brake disc to an unnamed battery electric vehicle automotive firm.

Series production is expected to start in early 2024, with a lifetime revenue estimated to be GBP13 million over five years.

"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," says Chief Executive Officer Kevin Johnson.

Current stock price: 46.50 pence

12-month change: down 28%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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