27th Feb 2026 16:31
(Alliance News) - Equipmake Holdings PLC shares soared on Friday as the company announced further backing by Caterpillar Inc, and a narrowing of its half-year loss, despite a weaker top line.
Equipmake shares were up 47% at 1.25 pence each on Friday afternoon on the Aquis Exchange in London.
The Norfolk, England-based maker of electric motors, inverters, and drivetrains, said it has secured GBP3 million in senior secured convertible loans by Caterpillar Venture Capital Inc, entered on the same terms of the previous GBP5 million backing dating back to March 2025.
Caterpillar Venture Capital is a wholly owned subsidiary of Irving, Texas-based heavy machinery maker, Caterpillar.
The loan will mature at the end of March 2029, and pays 10% interest per year, with the option for Caterpillar to demand repayment or acquire Equipmake's shares.
Equipmake said that in the six months to the end of November, its pretax loss narrowed to GBP2.8 million from GBP4.3 million a year prior. Revenue however fell 26% to GBP1.4 million from GBP1.9 million, with the narrowed loss tied to cost reductions, namely in administrative expenses.
Administrative expenses fell 31% to GBP3.0 million from GBP4.3 million, with Equipmake attributing this to cost reduction measures.
Equipmake said it currently has a live order book of about GBP10.7 million
Chief Executive Officer Ian Foley said: "Following the decisive restructuring and refocusing in the prior financial year, the first half of the financial year 2026 marked a turning point...A strengthened balance sheet and growing commercial traction, we are now executing against a clear strategy focused on scalable, higher-margin opportunities."
He added: "Having the backing of Caterpillar has helped position Equipmake as a credible partner to both customers and suppliers, as well as providing a natural route to market for our solutions. We are seeing strong demand for our world-class solutions across a variety of sectors and these funds will help Equipmake accelerate its mission of transforming transportation through sustainable technology, creating substantial value for our investors, partners and customers."
By Martin Miraglia, Alliance News reporter
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