DG Innovate encouraged by progress with Pareta e-drive and enhanced battery technology

DG Innovate plc (LON:DGI), the advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and storage, has provided an update on the accelerated commercialisation programme for its suite of technologies.

Highlights

–     Testing of 250kW Pareta© high-performance electric vehicle drive underway

–     Initial performance results in line with expectations

–     Cycle testing ongoing for a further two months

–     Collaborative commercial dialogue continues to gather momentum with key partners and launch customers

–     Hard carbon anode material testing underway with positive initial results

Pareta© integrated e-drive testing

Testing of the Company’s 250kW Pareta© high-performance electric vehicle drive is now underway. Initial performance results are encouraging, and in line with concept expectations. Cycle testing is expected to continue for a further two months, with results to be reported in due course. The Pareta© High Efficiency Parallel Motor for Automotive Application project, being undertaken by a consortium including the Company and Meritor Electric Powertrain Systems UK Ltd (a subsidiary of US-headquartered global commercial vehicle components company, Meritor Inc), is therefore progressing positively in line with its targeted key milestones for new product development. The Company also continues to progress commercial discussions with its collaborative partners and potential launch customers.

Energy storage progress

The initial formulation and testing of a hard carbon anode material from a sustainable bio waste product has advanced to the point of benchmark testing, with good initial results.  Plans are now being formulated to supply small batch samples of material to key battery partners who consider this to be a potentially disruptive alternative in the aspiration to reduce dependency on hydrocarbon-derived anodes for both sodium and lithium-ion technologies.

Commenting, Peter Tierney, Chief Executive Officer of DG Innovate, said: “We are very encouraged by recent progress, both with our Pareta© e-drive and enhanced battery technology. This is a very exciting stage of the Company’s evolution and development towards becoming a supplier of choice for differentiated electric vehicle and energy storage solutions to various key market sectors, including automotive applications both commercial and military. I look forward to providing further updates as we progress.”

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