DG Innovate shares AGM Results and progress on Electric Mobility projects

DG Innovate plc (LON:DGI), the advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and energy storage, has announced the results of voting on the Resolutions put to its Annual General Meeting held earlier today. All Resolutions put to Shareholders at the meeting were duly passed on a show of hands.

Corporate Update

The Company is pleased to provide an update on recent progress across its technical and commercial workstreams:

·   The Company’s CEO Peter Bardenfleth-Hansen and CTO Pierre Pellerey recently visited its proposed joint venture partner, EVage Motors, in Punjab, India. Significant progress has been made on technical specifications for the first Pareta® motors and the parties expect to sign the joint venture agreement during the summer with a view to establishing production during 2025.

·      The Company is in the process of assembling and testing a prototype 450kW Pareta® motor for delivery to its collaboration partner Cummins-Meritor, for use in heavy commercial vehicles.

·      Initial prototypes for the previously announced joint development agreement for Pareta® drives for novel heavy goods vehicle applications are also being completed for testing and delivery to the Company’s development partner.

·    The Company continues to consider targeted acquisition opportunities within the wider e-mobility space, which would allow it to further accelerate its commercialisation strategy.

In addition, a new shareholder presentation will shortly be uploaded to DG Innovate´s website: https://www.dgiplc.com

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