TIDMSOLI

Solid State PLC

17 May 2022

RNS Reach - non regulatory announcement

Solid State plc

( "Solid State", the " Group " or the "Company" )

Solid State awarded power design appointment

Solid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, announces an important design and development contract from an existing customer. The initial commitment reflects a mobilisation fee of GBP0.5m awarded to Steatite's Power Business Unit for the design and manufacture of prototypes and pre-production packs of a bespoke power system for the client's autonomous application.

The Appointment is to design-in an innovative rechargeable battery for the next generation solution with production volumes expected to follow subject to customer acceptance / commissioning.

Matthew Richards, Managing Director of the Systems division, said:

"We are delighted with this Design-in Appointment. We have been working with the customer for several years, keeping pace with their own radical innovation as they strive for ever more efficient solutions. Our own capital investment in latest battery bonding technology combined with additional engineering resource have come together to allow the team to present a de-risked solution that meets the customer's immediate requirement with a roadmap for continuous enhancement that will drive down the total cost of ownership. We are looking forward to a strong engineering collaboration with the customer leading to the potential for volume production of the battery.

"Cable free power is increasingly in demand, with many of the applications in non-standard formats. Solid State uses its industry know-how and most suitable chemistry with extensive in-house skills and resources to design-in the optimum solution in each case. Safety, performance, quality, and reliability are critical. Our sustainably engineered solutions maximise the performance and cycle life, delivering commercially differentiated products, built to last."

For further information please contact:

 
Solid State plc                        Via Walbrook 
 Gary Marsh - Chief Executive 
 Peter James - Group Finance Director 
Walbrook PR (Financial PR)             020 7933 8780 
 Tom Cooper / Nick Rome                 0797 122 1972 
                                        solidstate@walbrookpr.com

Analyst Research Reports: For further analyst information and research see the Solid State plc website: https://solidstateplc.com/research/

Notes to Editors:

Solid State plc (SOLI) is a value added electronics group supplying commercial, industrial and military markets with durable components, assemblies and manufactured units for use in specialist and harsh environments. The Group's mantra is - 'Trusted technology for demanding applications'. To see an introductory video on the Group - https://bit.ly/3kzddx7

Operating through two main divisions: Systems (Steatite & Active Silicon) and Components (Solid State Supplies, Pacer, Willow Technologies & AEC); the Group specialises in complex engineering challenges often requiring design-in support and component sourcing for computing, power, communications, electronic, electro-mechanical and opto-electronic products.

Headquartered in Redditch, UK, Solid State employs approximately 300 staff across UK and US, serving specialist markets in industrial, defence and security, transportation, medical and energy.

Solid State was established in 1971 and admitted to AIM in June 1996. The Group has grown organically and by acquisition - having made 12 acquisitions since 2002.

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(END) Dow Jones Newswires

May 17, 2022 10:04 ET (14:04 GMT)

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