19 July 2024
DG Innovate
plc
("DG
Innovate", "DGI", or the "Company")
DG Innovate Delivers Pareta®
Motor Prototype in Record Time
New motor to power forward
the joint Development Agreement first announced in
January
DG Innovate (LSE: DGI), the advanced
R&D company developing pioneering solutions in sustainable
mobility and energy storage, announces the record-time development
of a new motor prototype based on its proprietary Pareta® electric
drive system. This follows the signing in January of a Joint
Development Agreement ("the Agreement") with a tier one commercial
vehicle components company to develop systems for heavy goods
vehicles applications.
The creation of a new, bespoke motor
in only six months demonstrates the skills and ambition of the new
DGI. Run by former Tesla Executives with the support of a growing
team of ex-Tesla motor experts, the Company has already received
preliminary positive feedback from the commercial partner. At a
time when the UK Government is actively pursuing growth, the
project shows an opportunity to harness the country's
engineering legacy with newfound momentum and private sector
investment.
The Pareta® system provides a
simpler, lighter and more cost-effective solution for a range of
applications for both new generation electric and hybrid heavy
goods vehicles, as well as those continuing to be powered by
internal combustion engines. It is designed to provide redundancy
within the system, to be robust, fit in the existing available
spaces, and respond rapidly with appropriate force. Inbuilt
processing power / intelligence provides additional functionality
making each application a powerful intelligent sub system in its
own right.
Commenting, Peter Bardenfleth-Hansen, DGI CEO,
said: "When we took over DG Innovate
7 months ago, my colleagues and I immediately started implementing
the culture we had experienced first-hand at Tesla. Going from
R&D to volume production is no easy feat but our Team of
ex-Tesla engineers have made this possible thanks to their
world-class expertise, and we are now unlocking the huge growth
opportunities stemming from the green transition. The delivery of
our latest prototype is a solid testament to this."
The prototype will now undergo
additional testing and vehicle trials during the second half of the
year. Additional information about the Agreement and the prototype
will be shared with the market in due course.
For
further information please contact:
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DG
Innovate plc
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02920 849 009
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Peter Bardenfleth- Hansen
(CEO)
Jack Allardyce (CFO)
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FGS
Global
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020 7251 3801
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Rollo Head
Gordon Simpson
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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:
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Enhanced Drive Technology (EDT) -
High efficiency, cost-effective electric motors + power
electronics; and
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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.
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Further information may be found
at: https://www.dgiplc.com
