7 February 2024
DG Innovate plc
("DG Innovate",
"DGI", or the "Company")
Transformative Equipment Purchase to
Turbocharge Materials Physics and Motor
Electronics
DG Innovate (LSE: DGI), the advanced R&D company
developing pioneering solutions in sustainable mobility and energy
storage, is pleased to announce the transformative acquisition of
new equipment to boost operations across its two business
lines. The purchase of a jet mill and furnace will enhance
development of energy storage products, while a motor pilot
production line and 3D manufacturing simulation software will move
the Company closer to achieving at-scale manufacturing of its
proprietary Pareta® electric drive system, increasing
current production from just a handful of devices per year to
around 1,000.
Together, the equipment will further DGI's
ability to develop innovative technology and significantly improve
production processes, turbocharging the Company's ambitions in
sustainable mobility and energy storage.
Peter Bardenfleth-Hansen, DGI CEO, said: "the
new equipment allows us to move complex processes in-house,
bringing us closer to developing higher performance motors and more
sustainable batteries. This equipment will decrease turnaround time
across R&D and manufacturing, and allow us to develop a
market-leading product much faster. This shows growing momentum
behind DGI's technology and our ability to commercialise it at
scale."
The jet mill and furnace will allow DGI to
improve the processing of key materials used in the production of
sodium-ion batteries. The jet mill will grind components to precise
specifications within micrometres - a fraction of a human hair -
whilst the furnace will deliver extreme heat up to 1,700⁰C to
facilitate close temperature control. These are rare pieces of
equipment in the UK, meaning in-house access represents a
competitive advantage.
The motor pilot production line features
advanced machinery that will set the foundations for DGI to
manufacture the proprietary Pareta® electric drive
system at a commercial scale. In addition, the 3D
manufacturing simulation software will allow DGI to design the
production line virtually, as a digital twin, thereby optimising
the workflow and layout of the pilot facility. The purchase will
have the immediate benefit of allowing DGI to increase its
production capacity to around 1,000 devices per year and - in the
longer term - ensure the most efficient production configuration is
employed as production scales up further.
For further
information please contact:
DG
Innovate plc
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C/O IFC
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Peter Bardenfleth- Hansen
(CEO)
Jack Allardyce (CFO)
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IFC
Advisory (Investor Relations)
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020 3934 6630
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Tim Metcalfe
Zach Cohen
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FGS
Global (Public Relations)
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020 7251 3801
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Rollo Head
Gordon Simpson
Alessandro M Rubin
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Grant Thornton UK LLP (Financial Adviser)
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020 7383 5100
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Samantha Harrison
Jamie Barklem
Ciara Donnelly
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About DG
Innovate
DG Innovate is an advanced research and development
company pioneering sustainable and environmentally considerate
improvements to electric mobility and storage, using abundant
materials and the best engineering and scientific practices. DG
Innovate is currently developing its products alongside a number of
major manufacturers across the transportation and energy sectors,
research institutions and the UK Government, and has filed 18
patents worldwide. DG Innovate's current research and development
activities are broadly split into two areas, focusing on novel
electric motor technologies and energy storage solutions. Its two
main products are:
- Enhanced Drive Technology (EDT) - High efficiency,
cost-effective electric motors + power electronics; and
- Enhanced Battery Technology (EBT) - Sodium-ion
batteries offering a sustainable energy storage solution at
similar/greater energy density to incumbent technologies at a lower
cost, increased safety with lower environmental
footprint.
Further information may be found at: https://www.dgiplc.com