US Power Contracts totaling $5.1m

& Notice of Trading Update

Solid State plc (AIM: SOLI), the specialist value-added component supplier and design-in manufacturer of computing, power, and communications products, announces that Custom Power USA has been awarded two significant contracts with a combined value of $5.1m (£3.8m) from two leading defence prime contractors for battery packs to be used in the US defence sector.

Both contract awards, made following lengthy and rigorous design phases, will utilise the battery packs in harsh environment applications in maritime and aerial technologies. Deliveries will commence in early 2025 and are expected to conclude within the calendar year. Both programmes have the potential for multi-year framework agreements.

Commenting on the contracts, Matthew Richards, Managing Director of Custom Power, said: "Whilst diverse in operating environments, these two contracts respectively required solutions that optimised size, weight and power for operation in harsh environments, which are key strengths for Custom Power.

"We are delighted that in both instances, existing customers, who are leaders in their respective markets, selected our Fountain Valley California facility as their business partner for such prestigious programmes that have the potential to run for several years."

Notice of Trading Update

Solid State expects to announce a trading update for the six months to 30 September 2024 in November.

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