REG - DG Innovate PLC - Board Changes

DG InnovateAnnouncement

29/08/2024 07:00

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RNS Number : 1398C  DG Innovate PLC  29 August 2024

29 August 2024

DG Innovate plc

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

Board Changes

 

DG Innovate (LSE: DGI), the advanced research and development company
developing pioneering solutions in sustainable mobility and energy storage,
announces that in order to reduce the Company's ongoing cost base and ensure
that its Board is of an appropriate size and composition as it further
progresses the commercialisation of its technology, Nick Tulloch
(Non-Executive Chairman) and Peter Tierney (Non-Executive Director) have
stepped down as Directors with immediate effect.

Following these changes, the Board of the Company comprises: Peter
Bardenfleth-Hansen (Chief Executive Officer), Christian Eidem (Executive
Director), Jochen Rudat (Executive Director), Jack Allardyce (Chief Financial
Officer), Sir Michael Fallon (independent Non-Executive Director), Mark
Carleton (independent Non-Executive Director) and Trevor Gabriel
(Non-Executive Director).

Commenting, Peter Bardenfleth-Hansen, CEO of DG Innovate said: "We continue to
make excellent progress on our journey to build a significant company in the
sustainable mobility sector, with a particular focus on bringing our
proprietary Pareta® electric drive technology to market as soon as possible.
With the appointment of the new executive management team in December 2023 our
progress has been accelerated and we all felt now was the right time to
streamline the Board.  On behalf of everyone involved with DGI I would like
to thank Nick and Peter for their significant contributions to the Company."

 

For further information please contact:

 

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

 Jack Allardyce (CFO)

 IFC Advisory (Financial PR & Investor Relations)      020 3934 6630
 Tim Metcalfe

 Zach Cohen

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

 Jamie Barklem

 Ciara Donnelly

 Cavendish Capital Markets Limited (Corporate Broker)  020 7220 0500
 Adrian Hadden / George Lawson (Corporate Finance)

 

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 numerous 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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