Saietta Group plc raising £37.5 million to accelerate growth strategy
- Saietta to list on LSE’s AIM market, with expected gross proceeds of £37.5m and market cap of £102m at the issue price
- Specialists in e-mobility propulsion, Saietta has developed a proprietary Axial Flux Technology (AFT) electric motor family for global applications
- New investment will support company’s ambitious growth plans, including global market rollout and development of UK facilities
Oxfordshire, UK, 5 July 2021 – Saietta Group plc (Saietta), a UK company that has developed the innovative Axial Flux Technology (AFT) electric motor, has announced its listing on the London Stock Exchange’s AIM market, raising expected gross proceeds of £37.5 million with an approximate market capitalisation of £102.1 million at the issue price.
Saietta’s admission to AIM on 7 July will be an important step in the company’s continuing development and will support the acceleration of its commercial progression to mass production of the proprietary AFT electric motor for a range of global market applications.
The IPO will provide Saietta with the capital to execute its growth plans, including establishing a motor durability testing facility and contributing to the expansion of a pilot production facility, which will increase the company’s European production capacity to 100,000 units per annum.
As governments and vehicle manufacturers scramble to decarbonise and develop new electric vehicles (EVs), there is a significant and growing demand to make EV technology more accessible. Affordable electric propulsion and battery systems are key to reducing EV cost and enabling widespread adoption. This is an essential step for many emerging economies and cities that are gripped by chronic air pollution, especially in Asia.
Wicher Kist, chief executive officer at Saietta Group plc, commented: “We have been greatly encouraged by the very positive reaction to our IPO which attracted support from a range of blue chip institutions. It puts us in a strong position to deliver our exciting strategy.
“Although the motor industry has focused on the electrification of the passenger car segment, Saietta has taken a contrarian view and focused on high volume, high growth markets. We have taken high end, high performance technology and redeveloped it for low-cost, mass production giving our AFT motors potential across a wide range of EV applications.
“We believe we are uniquely positioned to disrupt the Asian lightweight motorbike market which is expected to dominate demand for motorbikes; global annual motorbike sales are independently forecast to increase to circa 100 million by 2030, 40% of which are expected to be electric. We are aiming to capture a material proportion of the rapidly expanding electric motorbike market.”
About Saietta Group plc
Saietta Group plc is an established engineering company based in Oxfordshire, England. It specialises in propulsion motors for a broad range of electric vehicles (EVs) and has engineered breakthrough axial-flux motor tech. It’s branded AFT (Axial Flux Technology) and is modular in design, meaning high and low voltage e-motor solutions can be provided from scooters to buses. Saietta provides end-to-end turnkey engineering services to OEMs from market research and product definition, CAE and simulation, e-motor electrical and mechanical integration, prototype build and vehicle testing on 20 miles of private test tracks. Once motor specifications are agreed for client applications, Saietta can take them into low volume manufacture and define the high-volume production processes for clients to replicate and manufacture under license. The AFT 140 is the first motor variant in production which is optimised for mid-power motorbikes and last mile delivery vehicles. The unique AFT design provides class-leading performance with high torque density at low voltage and is particularly efficient on urban duty cycles. AFT has been rigorously designed for high automation in volume production meaning AFT cost effectively delivers class-leading performance for the L-Category target market.
More information is available via the Saietta Group plc website (www.saiettagroup.com). The company can also be found on LinkedIn and Twitter.
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