RCS - LifeSafe Holdings - Industrial partnership and distribution agreement

LifeSafe HoldingsAnnouncement

16/01/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240116:nRSP7693Za&default-theme=true

RNS Number : 7693Z  LifeSafe Holdings PLC  16 January 2024

16 January
2024

 

RNS
Reach

 

LifeSafe Holdings plc

 

("LifeSafe", the "Group" or the "Company")

 

Industrial partnership and distribution agreement with Lingjack

 

Partnership marks entry into Southeast Asia, a significant territory

 

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire
extinguishing fluids and fire safety products, announces the signing of a
distribution agreement for the supply of its Thermal Runaway Fluid to Lingjack
Fire and Life Saving PTY ("Lingjack"), a substantial Asian fire safety
business located in Singapore.

 

The distribution agreement represents a major growth opportunity for the
Company, providing a new and incremental revenue opportunity, as well as
expansion into a significant territory. The initial stages of the exclusive
agreement will see LifeSafe's Thermal Runaway Fluid solution added to
Lingjack's range of fire extinguishers and fixed suppression systems across
Singapore, China, Malaysia, Thailand and Indonesia. The Board expects there to
be opportunities to broaden the agreement with Lingjack to include further
LifeSafe products.

 

Lithium battery fires exhibit unique characteristics and therefore require
innovative solutions, particularly given the increasing number of devices and
industries around the world utilising the power and efficiency of lithium
batteries. The market opportunity in Southeast Asia for the LifeSafe's
innovative Thermal Runaway Fluid solution is both significant and growing.

 

The lithium Thermal Runaway Fluid is designed to permanently extinguish and
prevent the re-ignition of lithium fires and has been engineered to remove the
heat from the lithium fire, therefore making the battery safer post trauma.

 

Dominic Berger, Chairman of LifeSafe, commented: "We are pleased to announce
this new distribution partnership with such a prestigious and trusted fire
safety business such as Lingjack. The signing of the partnership extends the
Company's reach into the markets of Singapore, China, Malaysia, Thailand and
Indonesia and we look forward to working together for many years to come."

 

Kenneth Lim, Chief Executive Officer of Lingjack Fire and Life Saving PTY,
commented: "We are delighted to have signed this distribution agreement with
LifeSafe.  Obtaining access to the innovative and effective fluids and
technical support from the LifeSafe team has provided us with the opportunity
to launch into the new and growing lithium battery fire extinguisher market.
 Having placed our first purchase order for the Thermal Runway Fluid, we are
excited to grow our volumes into the extinguisher and fixed suppression
systems market in multiple regions across Southeast Asia."

 

For further enquiries:

 

 LifeSafe Holdings plc                                 Via FTI Consulting
 Dominic Berger, Chairman                              info@lifesafetechnologies.com
 Neil Smith, Chief Executive Officer
 Mike Stilwell, Chief Financial Officer

 WH Ireland Limited (Nominated Adviser & Broker)       Tel: +44 (0) 20 7220 1666
 Chris Fielding
 Darshan Patel
 Isaac Hooper

 FTI Consulting (Financial Communications)             Tel: +44 (0) 20 3727 1000
 Tom Hufton                                            LifeSafe@fticonsulting.com
 Harriet Jackson
 Liam Gerrard

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR").  Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Mike Stilwell, Chief Financial Officer of the
Company.

 

Notes to Editors

 

LifeSafe is a fire safety technology business that develops eco-friendly,
novel and innovative fire extinguishing fluids and life-saving fire safety
products.  LifeSafe has developed a market disrupting range of eco-friendly
fire safety protection products; a new patent-pending Thermal Runaway Fluid to
combat lithium battery fires by permanently extinguishing and preventing
re-ignition, and the StaySafe All-in-1, a handheld eco-friendly and fully
recyclable extinguisher which is verified to extinguish ten different types of
fire and is the number one selling fire extinguisher on Amazon UK.  LifeSafe
is successfully creating new markets for the Group in fire safety through its
innovative technologies, products, digital marketing and multi-channel sales;
and is continuing to develop new fluid derivations for applications in various
industrial market sectors.

 

LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.

 

For further information please visit: https://www.lifesafeholdingsplc.com
(https://www.lifesafeholdingsplc.com/) .

LinkedIn: https://www.linkedin.com/company/lifesafe-technologies
(https://www.linkedin.com/company/lifesafe-technologies)

Twitter: https://twitter.com/LifesafeT (https://twitter.com/LifesafeT)

About Lingjack Fire & Life Saving

LINGJACK Engineering Works Pte Ltd was established in 1971 and has since
evolved from a conventional engineering firm into a specialized manufacturer
of firefighting equipment. With over four decades of experience in the field
of fire and safety industry, LINGJACK strives to provide first class products
and services to the customer.

LINGJACK delivers value to customers through distinctive customer service and
zero defects products. The Company adapts international standard on stringent
control of work and systems, certified by LPCB(UK). Furthermore its entire
range of products are certified by Setsco, PSB, UL, DNV, ABS, MED, PED and
LPCB.

For further information please visit: https://www.lingjack.com/
(https://www.lingjack.com/)

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRADDGDBDBBDGSU