Surface Transforms (SCE) AGM 2024 Presentation summary

Leadership and management

• CEO has deep expertise in carbon ceramics and strategic management in automotive sectors.

• COO brings over 26 years of manufacturing experience, including senior roles at SGL Carbon.

Market overview and positioning

• Carbon ceramic brakes address a £2 billion market, representing 1% of the total auto market.

• Market is driven by heavier, faster, and cleaner vehicles, with regulatory and performance pressures on iron brakes.

• Carbon ceramic adoption is well underway, especially in performance and luxury segments.

• Market currently dominated by a duopoly, with capacity constraints among suppliers.

Strategic goals and growth plans

• Ambition to reach £100m annual sales in five years, representing about 5% market share.

• Twelve contracts and a strong pipeline support multi-year growth and good margins.

• Scaling up manufacturing capacity is a primary focus, with current and planned phases up to £150m.