REG - LifeSafe Holdings - Launch of new Lithium Thermal Runaway Fluid

LifeSafe HoldingsAnnouncement

09/12/2022 07:00

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RNS Number : 1196J  LifeSafe Holdings PLC  09 December 2022

 For immediate release  9 December 2022

 

 

LifeSafe Holdings plc

 

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

 

Submission of UK and international patent applications for new Lithium Thermal
Runaway Fluid and launch of Industrial website

 

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire
extinguishing fluids and fire safety products, is pleased to announce the
submission of UK and international patent applications for its new fire
extinguishing fluid, specifically designed to tackle Lithium Thermal Runaway
fires, and the launch of LifeSafe's Industrial website.

 

New LifeSafe Lithium Thermal Runaway Fluid ("TRF")

 

The Board is delighted to announce UK and international patent applications
have been submitted for the Company's new fluid, the LifeSafe Lithium Thermal
Runaway Fluid.  This is a variant of the Company's core eco-friendly patented
fluid, and represents a new and incremental revenue opportunity for the Group.

 

Lithium battery fires exhibit unique characteristics and therefore, in the
Board's opinion, require a unique solution, particularly given the increasing
numbers of devices and industries around the world utilising the power and
efficiency of lithium batteries. When a lithium cell begins to overheat it can
become unstable due to the extreme heat generated within the cell.  As this
heat cannot dissipate it builds up within the cell, eventually being released
with force, which can cause an explosion followed by fire.  The Company's new
Lithium TRF 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.

 

As with all the Company's existing extinguishing fluids, LifeSafe's new
Lithium TRF is an eco-friendly solution and does not leave a toxic residue.
It is both non-toxic and non-hazardous.

 

New LifeSafe Industrial website

 

In conjunction with the launch of LifeSafe's Lithium TRF, the Company has
developed a new website to focus on the applications and uses of its new and
future fluid developments for customers in the Industrial sector, as the Board
believes this presents a significant opportunity for the Group.  The new
website, which can be accessed at http://www.lifesafeindustrial.com
(http://www.lifesafeindustrial.com) , is complementary to LifeSafe's existing
consumer website which hosts content relevant to its fast-growing global
consumer market.

 

Dominic Berger, Chairman of LifeSafe, said: "The launch of our Lithium TRF
fluid is a very significant moment for LifeSafe. We are living in an
increasingly electrified world, particularly in the automotive sector, which,
while essential for tackling climate change, does bring risks that need to be
addressed and haven't been properly done so to date.

 

"Our Lithium TRF fluid is an important step forward in tackling the risk posed
by lithium fires and protecting people across the globe.  This new fluid
opens up a significant new market for the Group and as such we have launched a
new website that focuses on the Industrial sector to leverage this
opportunity.

 

"I am very excited by what lies ahead for LifeSafe.  These new market
opportunities, combined with the very strong trading we announced recently
with our consumer-focused products puts us in a great position to deliver
value for our shareholders.''

 

- Ends -

 

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.

 

 

 LifeSafe Holdings plc                                Via Buchanan
 Dominic Berger, Chairman                             www.lifesafeholdingsplc.com (http://www.lifesafeholdingsplc.com)
 Neil Smith, CEO
 Mike Stilwell, CFO

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

 Buchanan (Financial Communications)                  Tel: +44 (0) 20 7466 5000
 Henry Harrison-Topham                                LifeSafe@buchanan.uk.com (mailto:LifeSafe@buchanan.uk.com)
 Jack Devoy
 George Cleary

 

 

Notes to Editors

 

LifeSafe is a fire safety technology business that develops eco-friendly,
novel and innovative fire extinguishing fluids with a range of life-saving
fire safety products.  LifeSafe has a highly experienced management team
which is seeking to create new markets for the Group in fire safety through
new technologies, digital marketing and multi-channel sales.

 

LifeSafe has developed what the Directors believe to be a market disrupting
range of eco-friendly fire safety protection products to both protect (via
fire extinguishers) and detect (via carbon monoxide, smoke and heat alarms)
fires.  At the centre of the Group's product range is the FER1000
extinguishing fluid, for which the Group has been granted a patent in the
UK.  The FER1000 fluid has been developed by LifeSafe to extinguish five
different types of fire: electrical, paper, textiles, cooking oil, and petrol
and diesel.

 

The Group's best-selling product using this extinguishing fluid is the
StaySafe 5-in-1 fire extinguisher.  It was launched on Amazon Prime in the UK
in August 2021 and subsequently became Amazon Prime's top-selling fire
extinguisher in the UK in the same month.  The StaySafe 5-in-1 and the
PanSafe pan fire extinguisher were launched in Screwfix in Spring 2022 with
the StaySafe range of smoke, heat and carbon monoxide detectors.

 

LifeSafe is developing new fluid derivations for the industrial market and in
December 2022, the Company launched its Lithium Thermal Runaway Fluid to
combat thermal runaway in lithium battery fires by permanently extinguishing
and preventing the re-ignition of lithium fires.

 

LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.L.
For additional 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)

 

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