Award of DRIVE35 Grant

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist connection systems to the automotive sector, is pleased to report that it has been successful in the governments DRIVE35 funding programme, facilitated by the Advanced Propulsion Centre UK (APC); "automotive R&D, scale-up, and transformation".

This grant award of £3 million from Innovate UK and the APC will be key to helping the Company scale its UK manufacturing capability, develop specialist skills and deliver Cell Contacting System technology to key partners around the world.

The successful award of this grant combined with the Company's own funding provides the resources needed to meet expected demand from existing contracts in 2027 and beyond together with a platform for further growth.

For the grant funding to be committed, the project start up requirements need to have been met and the grant offer letter received.

About the competition - 'As part of the UK Government's £4 billion DRIVE35 programme, delivered by the Department for Business, Innovation, Science and Trade (BIST) in partnership with the Advanced Propulsion Centre UK and Innovate UK. All UK Government grant funding is subject to HMG approval.'

Ian Constance, Chief Executive at the Advanced Propulsion Centre UK, said:

"The projects announced today demonstrate the depth of innovation and engineering excellence that exists across the UK automotive sector. Through DRIVE35, we are supporting businesses to move promising technologies to commercial deployment and manufacturing at scale.

This investment is about far more than individual projects. It is about strengthening the UK's capability to design, develop and build the technologies that will define the vehicles of the future. By bringing together industry, government and academia, DRIVE35 is helping create the conditions for long-term growth, increasing investor confidence and reinforcing the UK's position as one of the world's leading destinations for automotive innovation."