Aurrigo International plc (LSE:AURR) has signed its largest contract to date, agreeing a £6.28m deal with Ultra Global Limited to design and manufacture 25 autonomous guided vehicles intended for airport and passenger transit applications in the UK.
The programme will upgrade Ultra Global’s existing transport platform and is expected to generate approximately £1.53m in revenue during FY26 and a further £4.75m in FY27. The agreement will also support the expansion of Aurrigo’s manufacturing activity in the West Midlands. As Ultra Global is considered a related party, the board confirmed that the transaction has been reviewed and deemed fair and reasonable for shareholders.
Under the terms of the contract, Aurrigo will enhance the vehicles’ power systems, electronics, software, sensing technology and mechanical components to produce a customised fleet designed to carry small groups of passengers. The initial vehicles will be used for customer demonstrations, helping showcase the technology to potential buyers in both domestic and international markets.
The project is expected to strengthen collaboration between the two companies and could open the door to additional orders as demand grows for autonomous passenger transport solutions in aviation and other controlled environments.
Despite strong revenue growth, Aurrigo’s broader outlook remains constrained by ongoing losses and negative free cash flow, although the company maintains a relatively low level of debt. From a technical perspective, the share price trend remains positive, though a very high RSI suggests the stock may be overbought in the near term. Valuation metrics remain difficult to assess due to negative earnings and the absence of dividend yield data.
More about Aurrigo International PLC
Aurrigo International plc is a UK-based developer of autonomy software, fully autonomous vehicles and mobile robotics systems. The company specialises in airport ground support equipment designed to automate the movement of cargo, baggage and passengers in safety-critical airside environments. Headquartered in Coventry, Aurrigo also operates offices in Singapore, Cincinnati and Ottawa, drawing on more than three decades of expertise in advanced automotive systems to improve efficiency, safety and sustainability in demanding operational settings.
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