RNS16 Sep 2021 14:05
Aeristech: Investor Update
The Board of Sabien Technology Group plc (AIM:SNT) today notes the announcement by Sprintex (ASX:SIX) of its collaboration with Aeristech which will facilitate Sprintex' penetration into the high-growth and lucrative hydrogen energy and clean air markets. In June 2021, Sprintex opened a 1,500 square metre manufacturing facility in China which would produce several electrical compressor (eCompressor) platforms. Aeristech's proprietary designs will form a key component of these platforms for use in hydrogen fuel cell vehicles.
On 26 February 2021, Sabien announced that it had made an investment into Aeristech. This investment was made to support Aeristech's development of e-boost technologies for hydrogen fuel cell, hybrid electric, and internal combustion engine powertrains. Aeristech announced also that it had entered partnerships with ZeroAvia and GKN Aerospace for the development of new low carbon hydrogen-electric power trains for use in aviation applications.
Commenting on the news, Richard Parris, Executive Chairman of Sabien, stated:
"Sabien's strategy is to invest in the provision of solutions to the Green Economy. As part of this strategy, the Board took the decision to invest in Aeristech because of its market leading IP and technology whose applications in critical transportation sectors offered considerable scope for growth. The Board is pleased to note that Aeristech's position has been recognised by another market-leading participant in this important industry and welcomes the collaboration with Sprintex. The potential for technologies such as those offered by Aeristech is now being realised. Sabien remains committed to seeking further, similar opportunities in its pursuit of a leading position within the Green Economy."
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