| Gates Belt Drive Powers First-Ever Belted Bike to Win and €100K Belted Purse Awarded DENVER, Aug. 24, 2026 /PRNewswire/ -- Gates Industrial Corporation Ltd. (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions proudly celebrates a historic moment in cycling history. With a groundbreaking performance, Harriet (Hattie) Harnden of AON Racing secured the first-ever UCI Downhill Mountain Bike World Series victory on a belt-driven bike, claiming the €100,000 Gates Belted Purse. 
The race, held in Les Gets, Haute-Savoie, France, brought together elite riders from across the globe to push the limits of performance on the world's toughest terrain, with 20 riders equipped with the high-performance Gates Belt Drive system. This milestone validates what Gates has long championed, belt drives not only meet but exceed the punishing demands of elite downhill racing. It signals a broader shift in performance cycling, one in which clean, low-maintenance, and ultra-durable belt drives are poised to become the future of drivetrain technology. "Downhill racing can be brutal on riders and equipment, so to be the first rider to win on a belt-driven bike is honestly pretty exciting," said Hattie Harnden, winner of the €100,000 Gates Belted Purse. "The Gates Belt Drive delivered smooth consistency without dropped chains or skipped gears, letting me focus completely on the run. In a sport where every second matters, that can make all the difference. This win reflects the hard work and belief of the entire team, and it's a moment we're all proud of at AON. Hopefully, it's just the start of what we can do with this bike." Chris Sugai, General Manager of Mobility at Gates said, "Victories like this don't happen in isolation. This achievement is the result of a collaborative effort across the industry. We want to recognize the mechanics, engineers, and support crew who worked relentlessly to ensure this bike performed at its peak. Special thanks to Gamux for developing a frame that harnesses the power of Gates Belt Drive, proving that engineering innovation leads to game-changing results." This win reaches beyond the podium; it signals the ongoing commitment Gates has to innovate across the mobility landscape. As global demand for more resilient drivetrain systems rises, Gates is delivering scalable solutions that address sport, commuter, and micromobility platforms. Insights from this race-winning platform are already influencing new product development with advancements in durability, power transfer and responsiveness enhancing the entire product line. As urbanization, electrification, and rider demand accelerate, Gates is not just redefining racing performance but also setting the pace for global high-performance bicycle innovation. To learn more about the €100,000 Gates Belted Purse visit Gates Belt Drive. About Gates Industrial Corporation Ltd.
Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse aftermarket channel customers and to original equipment manufacturers (OEMs) as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries to everyday consumer applications, including virtually every form of transportation. Our products are sold in more than 130 countries across three major geographies: the Americas; Europe, Middle East & Africa; and Asia Pacific. For more information visit gates.com. Forward Looking Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. These statements include, but are not limited to, statements related to the Company's ability to deliver scalable solutions and develop enhanced products. Such forward-looking statements are subject to various risks and uncertainties, including, among others, U.S. policies, actions or legislation (including the imposition of tariffs), economic, political and other risks associated with international operations (including as a result of the ongoing conflicts in the Middle East and their impact on supply chains, such as reduced availability of certain of our production materials and increased supply costs, and economic conditions), availability of raw materials or other manufacturing inputs at favorable prices in sufficient quantities, or at a given time, changes in our relationships with, or the financial condition, performance, purchasing power or inventory levels of, of key channel partners, dependence on the continued operation of our manufacturing facilities, supply chains, distribution systems and information technology systems, our ability to forecast demand or meet significant increases in demand and market acceptance of new product introductions and innovations. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements can be found under the section entitled "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission, as such factors may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. 
 View original content to download multimedia:https://www.prnewswire.com/news-releases/gates-redefines-high-performance-racing-with-historic-uci-downhill-racing-victory-302858741.html
SOURCE Gates Corporation | |
