Libertine Holdings PLC Novation of Master Consultancy Services Agreement (9154A)

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RNS Number : 9154A

Libertine Holdings PLC

28 September 2022

Libertine Holdings PLC

("Libertine" the "Company" or the "Group")

Libertine announce novation of Master Consultancy Services Agreement to Hyliion Holdings Corp.

Libertine Holdings PLC (LSE AIM: LIB), a developer of clean, highly efficient, and fuel-flexible Linear Generator technology, announces that following the closing of the previously announced deal to acquire a new hydrogen and fuel agnostic capable generator technology, KARNO(TM) , by Hyliion Holdings Corp. (NYSE: HYLN, "Hyliion") from the General Electric Company (NYSE: GE, "GE"), it has agreed to the novation of its Master Consultancy Services Agreement with GE to Hyliion.

HYLN has engaged Libertine to support the development of the electrical linear generator for the KARNO generator. The KARNO generator will be deployed in Hyliion's Hypertruck powertrain platform to offer a next-generation, fuel-agnostic semi-truck solution. Further details on Hyliion are set out in the appendix of the announcement.

Sam Cockerill, Chief Executive of Libertine, commented: "We are pleased to approve the novation of our Master Consulting Services Agreement to Hyliion and continue to support the development of the electric machine into Hyliion's fuel agnostic technology for the Hypertruck KARNO. It has been a pleasure to work with GE on this project and we look forward to working closely with Hyliion in the future, to support their product development roadmap."

For more information, please visit www.libertine.co.uk or contact:

 
Libertine Holdings PLC                                  via Tavistock 
Sam Cockerill, Chief Executive Officer 
Gareth Hague, Chief Financial Officer 
 
Panmure Gordon (NOMAD and Broker)                    +44 20 7886 2500 
John Prior 
Dougie McLeod 
Hugh Rich (Corporate Broking) 
 
Tavistock (Public Relations and Investor 
 Relations)                                          +44 207 920 3150 
Simon Hudson                               libertine @tavistock.co.uk 
Rebecca Hislaire 
Charles Baister

About Libertine

Founded in 2009, Libertine has developed a technology platform solution for powertrain Original Equipment Manufacturers ("OEMs"), enabling efficient and clean power generation from renewable fuels. Libertine was admitted to trading on the AIM market of the London Stock Exchange in December 2021. Libertine's linear electrical machines, controls and developer tools together form a technology platform (intelliGEN(TM)) which the Company provides to customers for the development of clean, highly efficient and fuel-flexible Linear Generator products. The platform is a result of over a decade of development of Linear Generator technology with multiple successful client-led programmes.

The potential market for Linear Generator products goes well beyond the distributed power generation applications where Linear Generators are already in commercial use today, complementing intermittent renewable power with clean, on-demand power generation. Linear Generators also have the potential to complement battery electrification in hybrid powertrains as range extenders, addressing the practical and economic barriers to rapid adoption of clean electric propulsion using battery electric powertrain technology alone. Linear Generator products using Libertine's technology could work alongside battery electrification in a wide range of hybrid systems including:

   --      Heavy-duty hybrid powertrains of trucks, buses, tractors, construction and mining equipment

-- Medium and light-duty hybrid powertrains of commercial vehicles operating over longer distances;

-- A proportion of the passenger automotive market where vehicle use and recharging constraints are a barrier to battery electrification; and

   --      A wide range of off-grid, portable power and distributed power generation applications.

Working with OEMs from an early stage in the development cycle ensures Libertine's technology is effectively integrated into OEM products, maximising the performance and economic benefits provided by Libertine's platform technology. Libertine has developed a portfolio of over 30 granted patents in addition to a significant body of technical know-how developed since the company's formation in 2009. The Company's senior management team and board includes executives with decades of deep technical experience in the automotive and energy industries.

About Hyliion

Hyliion's (NYSE: HYLN) mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry's environmental impact at scale. For more information, visit www.hyliion.com .

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