Introduction of 400kW Pareta E-drive
09/05/2022 07:00
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RNS Number : 7002K DG Innovate PLC 09 May 2022
9 May 2022
DG Innovate plc
("DG Innovate" or the "Company")
Introduction of 400kW Pareta(©) E-drive
DG Innovate (LSE: DGI), the advanced research and development company
pioneering sustainable and environmentally considerate improvements to
electric mobility and storage, is pleased to announce the extension of its
Pareta(©) range of high-performance electric vehicle drives ("E-drive") to
now include a 400kW version suitable for heavy vehicle applications.
The 400kW Pareta(©) integrated E-drive is being developed in collaboration
with a tier 1 supplier to the commercial vehicle industry (the "Customer"),
with whom the Company has a good and evolving relationship. The 400kW
Pareta(©) drive specification was defined by the Customer to target its
growing E-drive needs.
DG Innovate's Pareta(©) (representing Parallel Eta efficiency ) range of
ultra-reliability high efficiency E-drives are designed to offer class leading
performance and power. Founded on the Company's extensive experience in
military high-performance E-drive applications, DG Innovate, in conjunction
with the Customer, has now focused its expertise and its Pareta(©) concept on
the commercial heavy goods vehicle sector, where the Company sees significant
commercial opportunities.
With a compact integrated high power silicon carbide inverter, the 400kW
Pareta(©) unit measures 400mm in diameter by 270mm in length, making the
combination one of the most compact available. It is seen by the Company as
a leading contender for use in the heavy truck, bus and delivery van markets;
military land vehicles and sea vessel drives; along with having a suitability
for safety critical aircraft drives. The 400kW unit extends DG Innovate's
Pareta(©) family of E-drives which already includes 250kW and 100kW sizes.
Performance and endurance verification testing of the 400kW Pareta(©) is
planned to begin in the coming weeks and the Company looks forward to
providing further updates in due course.
Commenting, Christopher Theis, CEO of DG Innovate, said:
"We are delighted to be able to announce our new electric drive suitable for
the heavy goods vehicle sector, together with many other potential
applications. The 400kW Pareta(©) E-drive has been defined to match the
requirements of a key customer of the Company, who has a significant global
position in the heavy vehicle transmission sector, and we look forward to
continuing to work with them to bring this technology to the market.
"Since the admission of DG Innovate to trading on the London Stock Exchange a
month ago we have commenced an acceleration programme to advance commercial
progress with our suite of electric mobility and storage technologies and I
look forward to providing further updates over the coming months."
For further information please contact:
DG Innovate plc C/O IFC
Christopher Theis
Jack Allardyce
IFC Advisory (Financial PR & IR) 020 3934 6630
Tim Metcalfe
Zach Cohen
Grant Thornton UK LLP (Financial Adviser) 020 7383 5100
Samantha Harrison
Jamie Barklem
Daphne Zhang
Ciara Donnelly
ETX Capital (Broker) 020 7392 1400
Tom Curran
Thomas Smith
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