TIDMLIB
RNS Number : 0765Q
Libertine Holdings PLC
16 February 2023
16 February 2023
Libertine Holdings PLC
("Libertine" the "Company" or the "Group")
Libertine announces signing of Term Sheet with Azelio AB
Libertine Holdings PLC (LSE AIM: LIB), a developer of Linear
Generator technology, has signed a Term Sheet with Azelio AB
("Azelio") to jointly integrate and licence Libertine's HEXAGEN(TM)
platform for energy storage applications.
Azelio is a cleantech company based in Gothenburg, Sweden, which
has developed a long duration energy storage system, providing
dispatchable electricity and usable heat with zero emissions.
Azelio is listed on the Nasdaq Stockholm First North Stock
Market.
Since 2020, Azelio has been working closely with Libertine to
evaluate the use of Libertine's HEXAGEN(TM) platform to enhance the
efficiency and effectiveness of Azelio's energy storage
systems.
In accordance with the Term Sheet, Libertine and Azelio will
work together to integrate Libertine's HEXAGEN(TM) platform for use
with Azelio's energy storage technology and to establish a licence
agreement for the use of Libertine's HEXAGEN(TM) platform in
Azelio's product development, demonstration, pilot and commercial
sales of energy storage systems across the world.
Sam Cockerill, Chief Executive of Libertine, commented: "This
Term Sheet agreement further demonstrates the applicability of our
technology solutions for OEMs and represents a continuation of our
work with Azelio to integrate our platform technology into its
energy storage systems. Long-duration energy storage is an enabler
for increasing the share of renewable energy in power grids, and we
are delighted to support Azelio's path to demonstration, pilot and
commercialisation of its future products using Libertine's
technology."
Torbjörn Lindquist, Chief Technology Officer of Azelio,
commented: "We have worked closely with the team at Libertine since
2020. We look forward demonstrating and launching future thermal
energy storage systems using Libertine's proprietary HEXAGEN(TM)
platform. This forms the start of an exciting development journey
that I expect to bear fruit commercially in a few years' time."
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 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.
About Azelio
Azelio specializes in energy storage with electricity and heat
production. The technology is revolutionary in that renewable
energy becomes dispatchable, making clean energy available
around-the-clock. The energy is stored in recycled aluminium and
converted into electricity and heat with a total efficiency of up
to 90%. The solution is scalable, sustainable, and cost-efficient
from 0.1 MW up to 20 MW. Azelio is headquartered in Gothenburg,
Sweden. Production takes place in Uddevalla and the Company
maintains development centers in Gothenburg and Åmål, has a
presence in Stockholm, as well as Regional Directors for Australia,
US, southern Africa and the MENA region. Azelio is listed on Nasdaq
Stockholm First North Growth Market with FNCA Sweden AB as
Certified Adviser.
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