LIB Libertine Holdings Plc

25 March 2024

Reach

Libertine Holdings PLC

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

Libertine announces Strategic Partnership Agreement with LHP Engineering Solutions LLC

Libertine Holdings PLC (LSE AIM: LIB), a developer of Linear Generator technology, has entered into a Strategic Partnership Agreement with LHP Engineering Solutions LLC (LHP), a provider of turnkey embedded control systems and software development solutions for global automotive and industrial OEMs.

The purpose of the Strategic Partnership Agreement is to enable both companies to collaborate on business development, technical development and pilot programme formation activities with a view to creating prototype demonstration units for engine and power generator OEMs. The agreement sets out the understanding and intentions of Libertine and LHP in connection with the development and commercialisation of containerised hybrid power systems combining linear generator and battery technology and so complements Libertine's strategic partnership agreement with BASEBATT as previously announced on 12th March 2024.

The nature of the Strategic Partnership Agreement is largely non-binding and any revenue generating activities would be subject to further agreement in the form of a binding Joint Development Agreement or Contractual Framework Agreement and Statements of Work.

Libertine and LHP have entered into the Strategic Partnership Agreement in response to a trio of new enquiries from a leading US containerised power generator company, a waste-to-energy technology company and a global data centre energy services company.

LHP and Libertine aim to leverage LHP's Product Readiness Level Process, software engineering development and system integration capabilities, EV testing facilities and wider R&D network to accelerate and de-risk OEM new product development programmes using Libertine's intelliGENTM and HEXAGENTM technology platforms.

Linear Generators combine the efficiency of fuel cells with the durability and power density of conventional generators to produce clean, dispatchable power from renewable fuels. Libertine's intelliGENTM and HEXAGENTM platforms form the basis of a battery-like Linear Generator product architecture that combines individual Linear Power System 'cells' into modules and packs. 

LHP Engineering Solutions offer turnkey systems and software development solutions for global OEMs and their suppliers within the automotive, aerospace, medical device, and rail industries. LHP provides expertise in embedded controllers and software development and is a global leader in Functional Safety ISO 26262 consulting & implementation.

The growing global demand for data centres and electric vehicle recharging, coupled with the wider macro trend towards electrification of energy services is constrained by grid infrastructure and complicated by the intermittency of renewables. Today's solutions often rely on conventional packaged generators for dispatchable power generation. Linear Generator products could provide a more efficient, more cost-effective fossil free solution for dispatchable power generation.

Sam Cockerill, Chief Executive of Libertine, said: "LHP has exceptional capabilities for embedded control hardware and software development, system integration and testing that we anticipate could advance the readiness of Libertine's Linear Power Systems within OEM product development programmes.

"Linear Generator products using Libertine's intelliGEN^TM and HEXAGEN^TM technology platforms could provide dispatchable power alongside intermittent renewables to help balance power supply and demand behind the meter, in micro-grids and throughout the grid as demand for electrical power grows.

"LHP's long-standing customer relationships with global OEMs, their EV testing centre and testing solutions make this partnership the logical next step for Libertine's technical and business development activities as we seek to win new business with OEMs in the US and globally."

Dave Glass, Chief Executive of LHP, said: "For over two decades LHP has worked with some of the world's best known engine and vehicle OEMs on embedded controller system integration and functional safety implementations. Our customers are seeking new solutions for clean power generation, especially for high growth applications like powering data centres and vehicle recharging stations.

"Libertine's intelliGEN and HEXAGEN platforms could provide a basis for Linear Generator products serving these applications, and we are delighted to be working with Libertine as we seek to bring these generator products into OEM new product introduction programmes."

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

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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™ 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™ 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 LHP Engineering Solutions

Since 2001, LHP Engineering Solutions has provided engineering services and technology integration solutions for the transportation industry. LHP's mission is to create a safer, smarter, and more connected world through its knowledge of embedded controls, software development, telematics, and data analytics by focusing on the safety adherence and integration of autonomous systems within vehicles and other safety-critical products.