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The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation ( EU ) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union ( Withdrawal ) Act 2018. Upon the publication of this announcement via the Regulatory Information Service , this inside information is now considered to be in the public domain . 13 September 2021 Surface Transforms plc ( " Surface Transforms " or " the Company " ) Half - year financial results for the six months ended 30 June 2021 Surface Transforms ( AIM : SCE ) manufacturers of carbon fibre reinforced ceramic brake discs , announces its half - year financial results for the six months ended 30 June 2021 . Financial highlights : Revenue increased by 34 % to £ 1.2m ( H1-2020 : £ 0.9m ) Cash at 30 June 2021 was £ 17.2m ( H1-2020 : £ 2.0m ) Gross profit increased by 27 % at £ 0.7m ( H1-2020 : £ 0.6m ) Total administrative expenses rose by 35 % to £ 2.9m ( H1-2020 : £ 2.1m ) as a result of increased customer testing costs , headcount and depreciation in anticipation of the commissioning of Production Cell One Loss before tax increased to £ 1.9m ( H1-2020 : £ 1.2m ) Capital expenditure on property , plant and equipment was £ 0.8m ( H1-2020 : £ 0.3m ) to which a further £ 3.7m of capital equipment purchase orders were contracted in the period Successfully raised £ 19m of new equity ( after fees ) in a heavily over - subscribed fund raise Sales and Operational Highlights : Series production commenced for the Aston Martin Valkyrie Post balance sheet date , contract wins announced with a new customer , now described as OEM 10 , of £ 20m and a follow - on order with an existing customer , OEM 5 , of € 5m Bringing our overall lifetime value , OEM order book to circa £ 70m sales Good progress on both commercial discussions and ongoing successful product testing with several other new and existing customers Production Cell One will be ready for the ramp up in sales forecast in Q4-2021 Significant revision to the Company's manufacturing strategy which , inter - alia , is expected to : save £ 10m in the subsequent equipping of the Knowsley site ; provide £ 50m of annual sales capacity in early 2023 , an increase of £ 15m from previous capacity forecast ( without new capital expenditure ) ; and reduce our projected carbon footprint Strengthened the Board with the addition of two independent non - executive directors Outlook The Company now expects to enter a period of high growth , partially , but not solely based on a lifetime value OEM order book of circa £ 70m . Indeed , we repeat the statement made by the Chief Executive in the manufacturing strategy announcement of 1 September “ at