RCS - DG Innovate PLC - Energy Storage Update

DG InnovateAnnouncement

13/11/2024 07:15

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RNS Number : 9787L  DG Innovate PLC  13 November 2024

13 November 2024

DG Innovate plc

 

("DG Innovate", "DGI" or the "Company")

 

Energy Storage Update

 

DG Innovate plc (LSE: DGI), the advanced research and development company
developing pioneering solutions in sustainable mobility and energy storage, is
pleased to provide an update on recent developments regarding the Company's
energy storage activities.  Following the commissioning of a jet mill and
furnace, as announced on 7 February 2024, DGI's material science team have now
developed a range of enhanced hard carbon anode materials from a variety of
novel sustainable feedstocks.

 

One of these feedstocks, a sustainable biowaste material with significant
global availability, has shown particularly attractive properties.  A
demonstrator project commenced at the beginning of October 2024 with Swansea
University to produce full cells showcasing this DGI anode material.  The
Company is now in discussions with a number of overseas investment bodies
regarding significant potential project funding to accelerate scale-up
workstreams.  The Company looks forward to providing further updates on its
sustainable battery technology in due course.

 

In addition, an international patent was published in August 2024 to protect
the manufacturing process of one of the other feedstocks developed through
DGI's research. (Patent: WO2024170916A1·"Method of manufacturing a carbon
material for use as a battery electrode":

https://worldwide.espacenet.com/patent/search/family/085772370/publication/WO2024170916A1?q=WO2024170916A1
(https://worldwide.espacenet.com/patent/search/family/085772370/publication/WO2024170916A1?q=WO2024170916A1)
).

 

Commenting, Peter Bardenfleth-Hansen, CEO of DG Innovate said: "While a great
deal of focus has been placed on the ongoing commercialisation efforts for our
novel Pareta® e-drive technology, the energy storage team have been working
diligently on sustainable anode materials to disrupt the current battery
supply chain.  We are extremely excited by the potential demonstrated to date
and firmly believe that DGI can be an integral part of delivering greener
batteries for the energy transition."

 

Commenting, Dr Chris Kavanagh, Head of Energy Storage at DGI, said: "This
patent is the culmination of years of hard work and collaborations on half a
dozen Innovate UK projects.  This has made a name for DGI and its
subsidiaries in the battery sector.  We are proud of our achievements to date
and see a promising green future utilising our novel anode materials."

 

Enquiries:

 

 DG innovate plc                              C/O IFC

 Peter Bardenfleth-Hansen (CEO)

 Jack Allardyce (CFO)

 IFC Advisory (Investor Relations)            020 3934 6630

 Tim Metcalfe

 Zach Cohen

 Grant Thornton UK LLP (Financial Adviser)    020 7383 5100

 Samantha Harrison

 Jamie Barklem

 Ciara Donnelly

 

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