RCS - DG Innovate PLC - Pareta Motor Patent Granted in China

DG InnovateAnnouncement

18/01/2024 07:00

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RNS Number : 0838A  DG Innovate PLC  18 January 2024

18 January 2024

DG Innovate plc

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

Pareta(®) Motor Patent Granted in China

Patent accelerates expansion in the world's largest market for electric
vehicles

DG Innovate (LSE: DGI), the advanced R&D company developing pioneering
solutions in sustainable mobility and energy storage, is pleased to announce
that the China National Intellectual Property Administration ("CNIPA") has
issued DGI's first-ever Chinese patent, covering its proprietary Pareta(®)
electric drive system. This grants DGI intellectual property rights for this
technology in China, allowing the Company to expand its footprint in the
world's largest market for electric vehicles ("EVs").

Commenting, Peter Bardenfleth-Hansen, DGI CEO, said: "The grant of a patent
from the CNIPA is a significant milestone for DGI. The market for EVs in China
is growing at an unprecedented rate and Pareta(®) is a unique and
transformative solution: it is safe, scalable, and flexible in its
applications, with the potential to transform the future of transport in its
path towards decarbonisation. Along with our R&D team, I look forward to
driving our growth in the region, leveraging the best of British innovation
internationally."

The Pareta(®) electric drive system features a parallel and efficient coil
system with independent integrated power electronics for each section. The
patent specifically relates to a version of the axial flux motor which
features a novel winding and magnetic circuit arrangement that keeps costs to
a minimum whilst maximising efficiency. DGI has several other motor-related
international patents in process, each with unique winding and magnetic
geometries.

For more information on the granted patent please see CNIPA's Patent No.
113785472A titled 'Motor/Generator And Motor Drive Circuit'.

 

For further information please contact:

 DG Innovate plc                            02920 849 009
 Peter Bardenfleth- Hansen (CEO)

 Jack Allardyce (CFO)
 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

 Ciara Donnelly
 Peterhouse (Broker)                        020 7469 0930
 Rose Greensmith

 Duncan Vasey

 Lucy Williams

 

About DG Innovate

DG Innovate is an advanced research and development company pioneering
sustainable and environmentally considerate improvements to electric mobility
and storage, using abundant materials and the best engineering and scientific
practices. DG Innovate is currently developing its products alongside a number
of major manufacturers across the transportation and energy sectors, research
institutions and the UK Government, and has filed 18 patents worldwide. DG
Innovate's current research and development activities are broadly split into
two areas, focusing on novel electric motor technologies and energy storage
solutions. Its two main products are:

¾    Enhanced Drive Technology (EDT) - High efficiency, cost-effective
electric motors + power electronics; and

¾    Enhanced Battery Technology (EBT) - Sodium-ion batteries offering a
sustainable energy storage solution at similar/greater energy density to
incumbent technologies at a lower cost, increased safety with lower
environmental footprint.

Further information may be found at: https://www.dgiplc.com

 

 

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