REG - LifeSafe Holdings - New fluid and two industrial partnerships

LifeSafe HoldingsAnnouncement

07/12/2023 07:00

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RNS Number : 9320V  LifeSafe Holdings PLC  07 December 2023

For immediate
release
7 December 2023

 

LifeSafe Holdings plc

 

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

 

Launch of innovative new fluid proven to prevent thermal runaway fires in high
voltage battery packs and signing of two significant industrial partnerships

Pre-Trauma Fluid Launch

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire
extinguishing fluids and fire safety products, announces the launch of its new
Pre-Trauma Fluid ("PTF"), a unique, non-conductive coolant fluid designed
specifically to prevent thermal runaway in battery packs which can be caused
by overheating, overcharging or damage.

 

The PTF is an innovative, patent pending solution that prevents the threat of
thermal runaway by significantly reducing the transfer of heat within a
battery pack. The PTF is non-toxic, non-hazardous and importantly
non-corrosive, a significant leap forward in the efforts to better control
battery fires in a safe and more sustainable way.

 

This fire prevention fluid has been in development for 12 months in
conjunction with several interested parties, including the partners announced
today. The fluid, which has been engineered to prevent a fire event in a
battery pack, can either be built into a battery unit or delivered by a fixed
suppression system.

 

According to Precedence Research published in 2022, the global lithium-ion
battery market size was valued at $70 billion in 2022 and is expected to
surpass $380 billion by 2032(1). The market opportunity therefore for the
LifeSafe pre trauma fluids and thermal runaway fluids is both significant and
growing.

 

Industrial Partnerships - Xerotech and Reacton

 

LifeSafe is also pleased to announce, what the Board believes to be, a
transformative development partnership and collaboration agreement, signed
yesterday, with Xerotech Limited, one of the fastest growing battery
manufacturers in Europe. Xerotech specialises in the manufacture of high
performance, high voltage batteries and battery packs across multiple sectors
including, but not limited to, heavy machinery, defence, rail and energy. The
partnership agreement will support the development and application methods for
the deployment of LifeSafe's PTF and Thermal Runaway Fluid ("TRF") to tackle
battery overheating and support the cooling systems.

 

Furthermore, LifeSafe also signed yesterday a partnership agreement with
global fire suppression manufacturer Reacton Fire Suppression Limited, which
specialises in the manufacture of automatic fire suppression systems for an
extensive range of assets and industries. Following extensive testing and
development, the partnership will enable Reacton to sell the innovative PTF
and TRF as part of its global fire safety solutions.

 

Dominic Berger, Chairman of LifeSafe, commented: "We are proud to announce our
new PTF fluid and two exciting industrial contracts that also see the
beginning of new revenue streams for the business.

 

Our partnership with Xerotech will take our new, unique and innovative fluids
into a wide range of industrial sectors with an industry leader and innovator.
This partnership unites highly effective fluids and battery engineering
experts in supporting the growing demand of lithium-ion batteries across
multiple sectors.

 

"We are equally very pleased to announce a partnership with Reacton following
their first purchase order of our pioneering Pre-Trauma Fluid taking our
products into new markets and industries with a global industry leader.

 

"In combination with the recently announced distribution relationship with
Wormald in Australia these new partnerships open a new significant chapter in
the international growth of LifeSafe as we look forward to 2024."

 

Tony McDonald, Head of Engineering at Xerotech, commented: "We are incredibly
pleased to have signed this partnership agreement with LifeSafe which provides
the opportunity for us to use their unique fluids within large scale battery
systems and vehicle applications worldwide."

 

Ed Chivers, Global Certification Director at Reacton, commented: "We are
delighted to have entered into a partnership agreement with LifeSafe following
extensive testing and development and look forward to selling their innovative
Pre-Trauma and Thermal Runaway Fluids as an integral part of our fire safety
systems worldwide."

 

 1  https://www.precedenceresearch.com/lithium-ion-battery-market#:~:text=The%20global%20lithium%2Dion%20battery,USD%2052.65%20billion%20by%202024

 

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

 

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 Xerotech

Xerotech is an award-winning battery technology company solving one of our
generation's most significant challenges, industrial electrification. Driven
by a shared vision of a fully electric future, Xerotech's talented team is
making an impact on a global scale providing the first truly credible path to
zero emissions and enables the electrification of machines that were
previously too low-volume to be economically electrified. Our Hibernium®
battery pack platform adapts to the bespoke needs of your vehicle or
application. With Hibernium®, you can choose your desired or preferred energy
content, operating voltage range, physical dimensions, and even battery cell
chemistry. There are no design or engineering costs, even for one-off
prototyping projects making this solution one of the only viable options for
low-volume, high-diversity projects. The electrification of heavy-duty
machinery is now available to every OEM and Integrator.

Please visit www.xerotech.com (http://www.xerotech.com) for further
information.

About Reacton

Reacton Fire Suppression provides reliable, state-of-the-art fire suppression
systems, specially designed to tackle vehicle fire emergencies swiftly and
effectively, in order to help optimise car passenger safety. Our fire
suppression systems for passenger cars are designed to detect fires and
suppress them before they escalate. When a fire is detected, the system
activates and releases suppression agents, effectively extinguishing the
flames before they cause any serious damage. Our range of fire suppression
systems have been approved and certified for their high performance and
exceptional quality by third-party accrediting bodies.

Please visit www.reactonfire.com (http://www.reactonfire.com) for further
information.

 

 

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