Aurrigo International Reports Strong Financial Performance and Expansion Plans Following AIM Listing

The senior Aurrigo management team

Aurrigo International plc, the company behind the driverless Auto-Pod and an innovative autonomous luggage/cargo dolly for aviation, has announced promising results since its listing on AIM (Alternative Investment Market). The company achieved revenues of £5.3 million for the year ending December 31st and has unveiled ambitious expansion plans, aiming to capitalize on new contracts in its automotive division and a multi-year partnering agreement with Changi Airport Group (CAG) in Singapore.

Founded by brothers David and Graham Keene three decades ago, Aurrigo International successfully raised £8 million through its IPO in September. The company intends to utilize the financial backing to deploy its cutting-edge transport technology in the UK, Europe, North America, and Asia.

Since its listing, Aurrigo International has already created over 30 jobs, with a new recruitment drive underway to expand its workforce beyond 100 employees for the first time in its history. The Coventry Advanced Engineering Centre and international offices have witnessed substantial growth.

David Keene, CEO of Aurrigo, expressed his enthusiasm about the company’s progress, stating, “We delivered an exciting year of progress in 2022 with the IPO, fundraising, and partnership agreement with Changi Airport Group laying the foundations for future growth.” He further added, “The momentum of 2022 has continued into 2023. We are now demonstrating and proving our autonomous aviation products on the ground, which we believe will translate into new long-term partnerships.”

Significant advancements have been made across all aspects of the business since the IPO. Continued investment in research and development has facilitated the launch of the highly anticipated Auto-Dolly Mk3 and Auto-Dolly Tug Mk3, both of which are currently undergoing airside testing at Changi Airport. These innovative solutions aim to enhance baggage and cargo loading and unloading efficiency, optimize movement within airports, and improve safety by reducing manual operations. Notably, both vehicles are electric-powered, aligning with environmental commitments by reducing emissions and replacing older diesel-fueled tug fleets.

The partnership with Changi Airport is deemed transformative for Aurrigo International, providing an opportunity to showcase its technology at one of the world’s busiest airports and demonstrate its effectiveness to CAG, as well as other global airport groups and stakeholders.

David Keene emphasized the significance of this development, stating, “This is an international opportunity, but it is also very important news for the West Midlands. We have created nearly 30 new jobs since the IPO, with a large proportion of them at our Advanced Engineering Centre in Coventry.” He concluded, “Aurrigo International plc is in a perfect position to put the city on the global map again, this time when it comes to autonomous vehicles and their increasingly varied application, over 125 years on from when the first British motorcar was built in Coventry.”

Explore more topics
Author
Prolific News
Related news stories
Advertisement