RCS - DG Innovate PLC - Transformative Equipment Purchase

DG InnovateAnnouncement

07/02/2024 07:00

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RNS Number : 2113C  DG Innovate PLC  07 February 2024

7 February 2024

DG Innovate plc

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

Transformative Equipment Purchase to Turbocharge Materials Physics and Motor
Electronics

DG Innovate (LSE: DGI), the advanced R&D company developing pioneering
solutions in sustainable mobility and energy storage, is pleased to announce
the transformative acquisition of new equipment to boost operations across its
two business lines. The purchase of a jet mill and furnace will enhance
development of energy storage products, while a motor pilot production line
and 3D manufacturing simulation software will move the Company closer to
achieving at-scale manufacturing of its proprietary Pareta(®) electric drive
system, increasing current production from just a handful of devices per year
to around 1,000.

Together, the equipment will further DGI's ability to develop innovative
technology and significantly improve production processes, turbocharging the
Company's ambitions in sustainable mobility and energy storage.

Peter Bardenfleth-Hansen, DGI CEO, said: "the new equipment allows us to move
complex processes in-house, bringing us closer to developing higher
performance motors and more sustainable batteries. This equipment will
decrease turnaround time across R&D and manufacturing, and allow us to
develop a market-leading product much faster. This shows growing momentum
behind DGI's technology and our ability to commercialise it at scale."

The jet mill and furnace will allow DGI to improve the processing of key
materials used in the production of sodium-ion batteries. The jet mill will
grind components to precise specifications within micrometres - a fraction of
a human hair - whilst the furnace will deliver extreme heat up to 1,700⁰C to
facilitate close temperature control. These are rare pieces of equipment in
the UK, meaning in-house access represents a competitive advantage.

The motor pilot production line features advanced machinery that will set the
foundations for DGI to manufacture the proprietary Pareta(®) electric drive
system at a commercial scale. In addition, the 3D manufacturing simulation
software will allow DGI to design the production line virtually, as a digital
twin, thereby optimising the workflow and layout of the pilot facility. The
purchase will have the immediate benefit of allowing DGI to increase its
production capacity to around 1,000 devices per year and - in the longer term
- ensure the most efficient production configuration is employed as production
scales up further.

For further information please contact:

 DG Innovate plc                            C/O IFC
 Peter Bardenfleth- Hansen (CEO)

 Jack Allardyce (CFO)

 IFC Advisory (Investor Relations)          020 3934 6630
 Tim Metcalfe

 Zach Cohen

 FGS Global (Public Relations)              020 7251 3801
 Rollo Head

 Gordon Simpson

 Alessandro M Rubin

 Grant Thornton UK LLP (Financial Adviser)  020 7383 5100
 Samantha Harrison                           

 Jamie Barklem

 Ciara Donnelly

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:

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

- 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
(https://www.dgiplc.com)

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