RE: RNS out1 Apr 2025 08:49
Strip is supplying a Cell Contact System for battery pack modules for a US based autonomous vehicle programme.
"This contract is gathering pace and is the primary driver of the increased sales in 2025 as sales of pre-production parts has increased," it added.
"The board does not currently anticipate the supply of the CCS will fall under the recently proposed US auto parts tariffs, as the designated export commodity category code, under which the CCS is already being exported to the US, does not fall within the automotive parts ECC coding categorisations."
In addition, Strip said it has applied for a UK government automotive grant for up to GBP5.2 million as it continues to "assess its optimum options" to secure funding needed for operational demands.
"Having passed the expression of interest stage of the application process, the board can now confirm it is in the detailed application phase and further news on the outcome is anticipated in early Q3," it added.