New deal boosts Trackwise Designs

AIM-listed printed circuit specialist Trackwise Designs (LON:TWD) saw its share price surge by 36.80% to 158p (as of 14:10 BST) after signing a manufacturing deal worth up to £5 million in 2021. The contract is with a UK electric vehicle manufacturer and there is room for further revenues in 2022 and 2023.

CEO Phillip Johnston commented: “This is a very significant commercial milestone for Trackwise. Our customer is at the forefront of driving the adoption of sustainable technologies and the selection of Trackwise to help power its vehicles at scale is a fantastic endorsement of our technology.

“With our manufacturing capacity and capability recently improved, we look forward to continuing to support our customer as it looks to build out its transportation ecosystem in the coming years.

“At the same time, the number of opportunities for the application of IHT elsewhere in the electric vehicle industry and across our other target markets continues to grow at a healthy rate. We look forward to updating shareholders with further progress in due course“.