TIDMLIFS
RNS Number : 1196J
LifeSafe Holdings PLC
09 December 2022
For immediate release 9 December 2022
LifeSafe Holdings plc
('LifeSafe', the 'Group' or the 'Company')
Submission of UK and international patent applications for new
Lithium Thermal Runaway Fluid and launch of Industrial website
LifeSafe (AIM:LIFS), a fire safety technology business with
innovative fire extinguishing fluids and fire safety products, is
pleased to announce the submission of UK and international patent
applications for its new fire extinguishing fluid, specifically
designed to tackle Lithium Thermal Runaway fires, and the launch of
LifeSafe's Industrial website.
New LifeSafe Lithium Thermal Runaway Fluid ("TRF")
The Board is delighted to announce UK and international patent
applications have been submitted for the Company's new fluid, the
LifeSafe Lithium Thermal Runaway Fluid . This is a variant of the
Company's core eco-friendly patented fluid, and represents a new
and incremental revenue opportunity for the Group.
Lithium battery fires exhibit unique characteristics and
therefore, in the Board's opinion, require a unique solution,
particularly given the increasing numbers of devices and industries
around the world utilising the power and efficiency of lithium
batteries. When a lithium cell begins to overheat it can become
unstable due to the extreme heat generated within the cell. As this
heat cannot dissipate it builds up within the cell, eventually
being released with force, which can cause an explosion followed by
fire. The Company's new Lithium TRF is designed to permanently
extinguish and prevent the re-ignition of lithium fires and has
been engineered to remove the heat from the lithium fire, therefore
making the battery safer post trauma.
As with all the Company's existing extinguishing fluids,
LifeSafe's new Lithium TRF is an eco-friendly solution and does not
leave a toxic residue. It is both non-toxic and non-hazardous.
New LifeSafe Industrial website
In conjunction with the launch of LifeSafe's Lithium TRF, the
Company has developed a new website to focus on the applications
and uses of its new and future fluid developments for customers in
the Industrial sector, as the Board believes this presents a
significant opportunity for the Group. The new website, which can
be accessed at http://www.lifesafeindustrial.com , is complementary
to LifeSafe's existing consumer website which hosts content
relevant to its fast-growing global consumer market.
Dominic Berger, Chairman of LifeSafe, said: "The launch of our
Lithium TRF fluid is a very significant moment for LifeSafe. We are
living in an increasingly electrified world, particularly in the
automotive sector, which, while essential for tackling climate
change, does bring risks that need to be addressed and haven't been
properly done so to date.
"Our Lithium TRF fluid is an important step forward in tackling
the risk posed by lithium fires and protecting people across the
globe. This new fluid opens up a significant new market for the
Group and as such we have launched a new website that focuses on
the Industrial sector to leverage this opportunity.
"I am very excited by what lies ahead for LifeSafe. These new
market opportunities, combined with the very strong trading we
announced recently with our consumer-focused products puts us in a
great position to deliver value for our shareholders."
- Ends -
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
The person responsible for arranging the release of this
announcement on behalf of the Company is Mike Stilwell, Chief
Financial Officer of the Company.
LifeSafe Holdings plc Via Buchanan
Dominic Berger, Chairman www.lifesafeholdingsplc.com
Neil Smith, CEO
Mike Stilwell, CFO
WH Ireland Limited (Nominated Tel: +44 (0) 20 7220 1666
Adviser & Broker)
Chris Fielding
Darshan Patel
Buchanan (Financial Communications) Tel: +44 (0) 20 7466 5000
Henry Harrison-Topham LifeSafe@buchanan.uk.com
Jack Devoy
George Cleary
Notes to Editors
LifeSafe is a fire safety technology business that develops
eco-friendly, novel and innovative fire extinguishing fluids with a
range of life-saving fire safety products. LifeSafe has a highly
experienced management team which is seeking to create new markets
for the Group in fire safety through new technologies, digital
marketing and multi-channel sales.
LifeSafe has developed what the Directors believe to be a market
disrupting range of eco-friendly fire safety protection products to
both protect (via fire extinguishers) and detect (via carbon
monoxide, smoke and heat alarms) fires. At the centre of the
Group's product range is the FER1000 extinguishing fluid, for which
the Group has been granted a patent in the UK. The FER1000 fluid
has been developed by LifeSafe to extinguish five different types
of fire: electrical, paper, textiles, cooking oil, and petrol and
diesel.
The Group's best-selling product using this extinguishing fluid
is the StaySafe 5-in-1 fire extinguisher. It was launched on Amazon
Prime in the UK in August 2021 and subsequently became Amazon
Prime's top-selling fire extinguisher in the UK in the same month.
The StaySafe 5-in-1 and the PanSafe pan fire extinguisher were
launched in Screwfix in Spring 2022 with the StaySafe range of
smoke, heat and carbon monoxide detectors.
LifeSafe is developing new fluid derivations for the industrial
market and in December 2022, the Company launched its Lithium
Thermal Runaway Fluid to combat thermal runaway in lithium battery
fires by permanently extinguishing and preventing the re-ignition
of lithium fires .
LifeSafe was admitted to trading on AIM in July 2022 with the
ticker LIFS.L. For additional information please visit
https://www.lifesafeholdingsplc.com .
LinkedIn:
https://www.linkedin.com/company/lifesafe-technologies
Twitter: https://twitter.com/LifesafeT
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