Update on Battery Technologies Nomination

11 February 2025                                   

Strip Tinning Holdings plc

("Strip Tinning" or the Company")

Update on Battery Technologies Nomination

$780,000 C Sample order received on schedule

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist connection systems to the automotive sector, is pleased to confirm that its customer, a leading German Tier 1 supplier of automotive motion technology to the US based autonomous vehicle programme, has now placed an order for the C-samples as planned. The US vehicle manufacturer is wholly owned by one of the world's largest corporations and is currently running trials on public roads in three US cities.

The order, valued at $780,000, covers the supply of the Cell Contact System (CCS) for the vehicle's battery pack modules.

This major nomination win, with an expected lifetime value of £43.0 million, was first announced on 6 June 2024. In December, in response to customer requests for added functionality into the product designs, the Company announced revised prices had now been agreed with the customer for this programme which increased the expected lifetime value to £56.8 million, with likelihood of further volumes which would potentially increase the final lifetime value to £60.0 million.

Adam Robson, Executive Chair of Strip Tinning, commented:  

"We are pleased to have reached this next important milestone as we, our customer, and the vehicle OEM prepare for the start of production in 2026."

Enquiries:

Strip Tinning Holdings plc                                                                                                                              Via Alma

Adam Robson, Executive Chair

Mark Perrins, Chief Executive Officer                                                                                    

Kevin Edwards, Chief Financial Officer

Singer Capital Markets (Nominated Adviser and Sole Broker)                                         +44 (0) 20 7496 3000

Rick Thompson

James Fischer

Alma (Financial PR)                                                                                                              [email protected]m

Josh Royston                                                                                                                                   +44 (0) 20 3405 0205       

Joe Pederzolli