TIDMLIB
RNS Number : 8524S
Libertine Holdings PLC
09 November 2023
9 November 2023
Libertine Holdings PLC
("Libertine" the "Company" or the "Group")
Trading Update
Libertine Holdings PLC (LSE AIM: LIB), a developer of Linear
Generator technology, is pleased to provide an update on trading
and operations for the six months ended 30 September 2023 ahead of
the Company's Annual General Meeting to be held at 11:00am
today.
Highlights
-- Integration of Libertine's HEXAGEN (TM) hermetic Linear
Generator technology into Hyliion's KARNO (TM) generator
prototypes. Hyliion's KARNO (TM) Hypertruck commercial vehicle
demonstrator was exhibited at the ACT Expo in Anaheim, California
in May 2023. In October 2023, a KARNO (TM) generator using
Libertine's HEXAGEN (TM) technology successfully returned power to
the grid in Ohio.
-- Phase 1 engineering development with Hyliion is complete,
contract has entered 6-month Option Period for HEXAGEN(TM) platform
technology IP licensing.
-- Completion of design, manufacture and first phase of
combustion testing of Libertine's intelliGEN(TM) performance
validation prototype for heavy-duty powertrain applications.
-- Ashok Leyland's Linear Generator collaboration with Libertine
showcased alongside H2-ICE and Fuel Cell developments at Ashok
Leyland's 75th anniversary event in Chennai.
-- intelliGEN(TM) and HEXAGEN (TM) platform performance and
durability enhancements on track. These enhancements are intended
to satisfy stage-gate performance requirements for entry into OEM
new product development programmes expected to commence in
2024.
-- Libertine has pre-funded build of a small number of
additional intelliGEN(TM) prototype Linear Generators which are
intended to support OEM new product development programmes.
-- Technical progress has generated OEM commercial interest in
intelliGEN (TM) and HEXAGEN(TM) technology platforms for the
decarbonisation of heavy-duty powertrain, distributed power
generation and gas compression applications across several
geographic regions.
Outlook
As of 30 September 2023, the Group had cash reserves of GBP0.9m,
which provide the Group, absent any additional revenues, with the
funds required to maintain current operations through to May
2024.
The Company remains committed to developing its intelliGEN(TM)
and HEXAGEN(TM) technology platforms which the Company provides to
its OEM customers for their development of Linear Generator and
Linear Motor products.
The Company is presently engaged in commercial and technical
dialogue under NDA with prospective OEM customers across a number
of different applications and geographic regions.
Sam Cockerill, Chief Executive of Libertine, commented: "We are
pleased to have completed work with Hyliion during the period which
saw exhibition of their KARNO (TM) Hypertruck commercial vehicle
demonstrator at the ACT Expo in Anaheim CA in May 2023, and has
since enabled a KARNO (TM) generator to successfully return power
to the grid in Ohio.
"We are on track with the implementation of further performance
and durability enhancements to our intelliGEN (TM) and HEXAGEN(TM)
platforms. These enhancements are intended to satisfy entry
requirements for multiple OEM new product development programmes
expected to commence in 2024.
"Commercial interest in our intelliGEN (TM) and HEXAGEN(TM)
technology platforms for the decarbonisation of heavy-duty
vehicles, distributed power generation and gas compression
applications remains robust. We are making good progress with a
number of OEM and end product customers who we anticipate will
support the further development of the technology."
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
Rebecca Hislaire libertine@tavistock.co.uk
Charles Baister
About Libertine
Founded in 2009, Libertine provides technology platform
solutions for Original Equipment Manufacturers ("OEMs"), enabling
efficient and clean power generation from renewable fuels, and more
effective energy storage devices and gas compressor systems.
Libertine was admitted to trading on the AIM market of the London
Stock Exchange in December 2021.
Libertine has created two technology platforms, each using the
same core technology elements, which the Company provides to its
OEM customers for their development of Linear Generator and Linear
Motor products:
- The intelliGEN(TM) platform enables the creation of clean,
highly efficient and fuel-flexible Linear Generator products
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.
- The HEXAGEN(TM) platform enables more effective energy
storage, thermal power generation, waste heat recovery and gas
compression products including:
-- Stirling Engine power generators and thermal energy storage systems;
-- Linear motor reciprocating compressor (LMRC) systems for hydrogen refuelling stations; and
-- Organic Rankine Cycle waste heat recovery systems.
These two platforms are a result of over a decade of development
and performance validation of Libertine's proprietary core
technology elements including its linear electrical machines,
controls and developer tools.
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, providing on-board
power generation to address the practical and economic barriers to
rapid adoption of clean electric propulsion using battery electric
powertrain technology alone.
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 generated since the Company's formation.
The Company's senior management team and board includes executives
with decades of deep technical experience in the automotive and
energy industries.
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END
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(END) Dow Jones Newswires
November 09, 2023 02:00 ET (07:00 GMT)
Libertine (LSE:LIB)
過去 株価チャート
から 4 2024 まで 5 2024
Libertine (LSE:LIB)
過去 株価チャート
から 5 2023 まで 5 2024
