REG - Libertine Holdings - Signing of Term Sheet with Azelio AB

Libertine HoldingsAnnouncement

16/02/2023 07:00

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RNS Number : 0765Q  Libertine Holdings PLC  16 February 2023

16 February 2023

Libertine Holdings PLC

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

Libertine announces signing of Term Sheet with Azelio AB

Libertine Holdings PLC (LSE AIM: LIB), a developer of Linear Generator
technology, has signed a Term Sheet with Azelio AB ("Azelio") to jointly
integrate and licence Libertine's HEXAGEN(TM) platform for energy storage
applications.

Azelio is a cleantech company based in Gothenburg, Sweden, which has developed
a long duration energy storage system, providing dispatchable electricity and
usable heat with zero emissions. Azelio is listed on the Nasdaq Stockholm
First North Stock Market.

Since 2020, Azelio has been working closely with Libertine to evaluate the use
of Libertine's HEXAGEN(TM) platform to enhance the efficiency and
effectiveness of Azelio's energy storage systems.

In accordance with the Term Sheet, Libertine and Azelio will work together to
integrate Libertine's HEXAGEN(TM) platform for use with Azelio's energy
storage technology and to establish a licence agreement for the use of
Libertine's HEXAGEN(TM) platform in Azelio's product development,
demonstration, pilot and commercial sales of energy storage systems across the
world.

Sam Cockerill, Chief Executive of Libertine, commented: "This Term Sheet
agreement further demonstrates the applicability of our technology solutions
for OEMs and represents a continuation of our work with Azelio to integrate
our platform technology into its energy storage systems. Long-duration energy
storage is an enabler for increasing the share of renewable energy in power
grids, and we are delighted to support Azelio's path to demonstration, pilot
and commercialisation of its future products using Libertine's technology."

Torbjörn Lindquist, Chief Technology Officer of Azelio, commented: "We have
worked closely with the team at Libertine since 2020. We look forward
demonstrating and launching future thermal energy storage systems using
Libertine's proprietary HEXAGEN(TM) platform. This forms the start of an
exciting development journey that I expect to bear fruit commercially in a few
years' time."

 

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 provides technology platform solutions for Original
Equipment Manufacturers ("OEMs"), enabling efficient and clean power
generation from renewable fuels, and more effective energy storage devices and
gas compressor systems. Libertine was admitted to trading on the AIM market of
the London Stock Exchange in December 2021.

Libertine has created two technology platforms, each using the same core
technology elements, which the Company provides to its OEM customers for their
development of Linear Generator and Linear Motor products:

-   The intelliGEN™ platform enables the creation of clean, highly
efficient and fuel-flexible Linear Generator products 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.

-   The HEXAGEN(TM) platform enables more effective energy storage, thermal
power generation, waste heat recovery and gas compression products including:

•      Stirling Engine power generators and thermal energy storage
systems;

•      Linear motor reciprocating compressor (LMRC) systems for
hydrogen refuelling stations; and

•      Organic Rankine Cycle waste heat recovery systems.

 

These two platforms are a result of over a decade of development and
performance validation of Libertine's proprietary core technology elements
including its linear electrical machines, controls and developer tools.

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, providing
on-board power generation to address the practical and economic barriers to
rapid adoption of clean electric propulsion using battery electric powertrain
technology alone.

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 generated since the
Company's formation. The Company's senior management team and board includes
executives with decades of deep technical experience in the automotive and
energy industries.

About Azelio

Azelio specializes in energy storage with electricity and heat production. The
technology is revolutionary in that renewable energy becomes dispatchable,
making clean energy available around-the-clock. The energy is stored in
recycled aluminium and converted into electricity and heat with a total
efficiency of up to 90%. The solution is scalable, sustainable, and
cost-efficient from 0.1 MW up to 20 MW. Azelio is headquartered in Gothenburg,
Sweden. Production takes place in Uddevalla and the Company maintains
development centers in Gothenburg and Åmål, has a presence in Stockholm, as
well as Regional Directors for Australia, US, southern Africa and the MENA
region. Azelio is listed on Nasdaq Stockholm First North Growth Market with
FNCA Sweden AB as Certified Adviser.

 

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