REG - Libertine Holdings - Novation of Master Consultancy Services Agreement

Libertine HoldingsAnnouncement

28/09/2022 07:00

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RNS Number : 9154A  Libertine Holdings PLC  28 September 2022

28 September 2022

Libertine Holdings PLC

("Libertine" the "Company" or the "Group")

Libertine announce novation of Master Consultancy Services Agreement to
Hyliion Holdings Corp.

Libertine Holdings PLC (LSE AIM: LIB), a developer of clean, highly efficient,
and fuel-flexible Linear Generator technology, announces that following the
closing of the previously announced deal to acquire a new hydrogen and fuel
agnostic capable generator technology, KARNO(TM), by Hyliion Holdings Corp.
(NYSE: HYLN, "Hyliion") from the General Electric Company (NYSE: GE, "GE"), it
has agreed to the novation of its Master Consultancy Services Agreement with
GE to Hyliion.

HYLN has engaged Libertine to support the development of the electrical linear
generator for the KARNO generator. The KARNO generator will be deployed in
Hyliion's Hypertruck powertrain platform to offer a next-generation,
fuel-agnostic semi-truck solution. Further details on Hyliion are set out in
the appendix of the announcement.

Sam Cockerill, Chief Executive of Libertine, commented: "We are pleased to
approve the novation of our Master Consulting Services Agreement to Hyliion
and continue to support the development of the electric machine into Hyliion's
fuel agnostic technology for the Hypertruck KARNO. It has been a pleasure to
work with GE on this project and we look forward to working closely with
Hyliion in the future, to support their product development roadmap."

For more information, please visit www.libertine.co.uk
(http://www.libertine.co.uk) or contact:

 Libertine Holdings PLC                               via Tavistock
 Sam Cockerill, Chief Executive Officer
 Gareth Hague, Chief Financial Officer

 Panmure Gordon (NOMAD and Broker)                    +44 20 7886 2500
 John Prior
 Dougie McLeod
 Hugh Rich (Corporate Broking)

 Tavistock (Public Relations and Investor Relations)  +44 207 920 3150
 Simon Hudson                                         libertine (mailto:libertine@tavistock.co.uk) @tavistock.co.uk
                                                      (mailto:libertine@tavistock.co.uk)
 Rebecca Hislaire
 Charles Baister

 

About Libertine

Founded in 2009, Libertine has developed a technology platform solution for
powertrain Original Equipment Manufacturers ("OEMs"), enabling efficient and
clean power generation from renewable fuels. Libertine was admitted to trading
on the AIM market of the London Stock Exchange in December 2021.  Libertine's
linear electrical machines, controls and developer tools together form a
technology platform (intelliGEN™) which the Company provides to customers
for the development of clean, highly efficient and fuel-flexible Linear
Generator products. The platform is a result of over a decade of development
of Linear Generator technology with multiple successful client-led programmes.

The potential market for Linear Generator products goes well beyond the
distributed power generation applications where Linear Generators are already
in commercial use today, complementing intermittent renewable power with
clean, on-demand power generation. Linear Generators also have the potential
to complement battery electrification in hybrid powertrains as range
extenders, addressing the practical and economic barriers to rapid adoption of
clean electric propulsion using battery electric powertrain technology alone.
Linear Generator products using Libertine's technology could work alongside
battery electrification in a wide range of hybrid systems including:

·      Heavy-duty hybrid powertrains of trucks, buses, tractors,
construction and mining equipment

·      Medium and light-duty hybrid powertrains of commercial vehicles
operating over longer distances;

·   A proportion of the passenger automotive market where vehicle use and
recharging constraints are a barrier to battery electrification; and

·      A wide range of off-grid, portable power and distributed power
generation applications.

Working with OEMs from an early stage in the development cycle ensures
Libertine's technology is effectively integrated into OEM products, maximising
the performance and economic benefits provided by Libertine's platform
technology. Libertine has developed a portfolio of over 30 granted patents in
addition to a significant body of technical know-how developed since the
company's formation in 2009. The Company's senior management team and board
includes executives with decades of deep technical experience in the
automotive and energy industries.

About Hyliion

Hyliion's (NYSE: HYLN) mission is to reduce the carbon intensity and
greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading
provider of electrified powertrain solutions. Leveraging advanced software
algorithms and data analytics capabilities, Hyliion offers fleets an easy,
efficient system to decrease fuel and operating expenses while seamlessly
integrating with their existing fleet operations. Headquartered in Austin,
Texas, Hyliion designs, develops, and sells electrified powertrain solutions
that are designed to be installed on most major Class 8 commercial trucks,
with the goal of transforming the commercial transportation industry's
environmental impact at scale. For more information, visit www.hyliion.com
(http://www.hyliion.com) .

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