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7 Feb 2024 07:00
7 February 2024
DG Innovate plc
("DG Innovate", "DGI", or the "Company")
Transformative Equipment Purchase to Turbocharge Materials Physics and Motor Electronics
DG Innovate (LSE: DGI), the advanced R&D company developing pioneering solutions in sustainable mobility and energy storage, is pleased to announce the transformative acquisition of new equipment to boost operations across its two business lines. The purchase of a jet mill and furnace will enhance development of energy storage products, while a motor pilot production line and 3D manufacturing simulation software will move the Company closer to achieving at-scale manufacturing of its proprietary Pareta® electric drive system, increasing current production from just a handful of devices per year to around 1,000.
Together, the equipment will further DGI's ability to develop innovative technology and significantly improve production processes, turbocharging the Company's ambitions in sustainable mobility and energy storage.
Peter Bardenfleth-Hansen, DGI CEO, said: "the new equipment allows us to move complex processes in-house, bringing us closer to developing higher performance motors and more sustainable batteries. This equipment will decrease turnaround time across R&D and manufacturing, and allow us to develop a market-leading product much faster. This shows growing momentum behind DGI's technology and our ability to commercialise it at scale."
The jet mill and furnace will allow DGI to improve the processing of key materials used in the production of sodium-ion batteries. The jet mill will grind components to precise specifications within micrometres - a fraction of a human hair - whilst the furnace will deliver extreme heat up to 1,700?C to facilitate close temperature control. These are rare pieces of equipment in the UK, meaning in-house access represents a competitive advantage.
The motor pilot production line features advanced machinery that will set the foundations for DGI to manufacture the proprietary Pareta® electric drive system at a commercial scale. In addition, the 3D manufacturing simulation software will allow DGI to design the production line virtually, as a digital twin, thereby optimising the workflow and layout of the pilot facility. The purchase will have the immediate benefit of allowing DGI to increase its production capacity to around 1,000 devices per year and - in the longer term - ensure the most efficient production configuration is employed as production scales up further.
For further information please contact:
DG Innovate plc | C/O IFC |
Peter Bardenfleth- Hansen (CEO) Jack Allardyce (CFO) | |
IFC Advisory (Investor Relations) | 020 3934 6630 |
Tim Metcalfe Zach Cohen | |
FGS Global (Public Relations) | 020 7251 3801 |
Rollo Head Gordon Simpson Alessandro M Rubin | |
Grant Thornton UK LLP (Financial Adviser) | 020 7383 5100 |
Samantha Harrison Jamie Barklem Ciara Donnelly
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About DG Innovate
DG Innovate is an advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and storage, using abundant materials and the best engineering and scientific practices. DG Innovate is currently developing its products alongside a number of major manufacturers across the transportation and energy sectors, research institutions and the UK Government, and has filed 18 patents worldwide. DG Innovate's current research and development activities are broadly split into two areas, focusing on novel electric motor technologies and energy storage solutions. Its two main products are:
- Enhanced Drive Technology (EDT) - High efficiency, cost-effective electric motors + power electronics; and
- Enhanced Battery Technology (EBT) - Sodium-ion batteries offering a sustainable energy storage solution at similar/greater energy density to incumbent technologies at a lower cost, increased safety with lower environmental footprint.
Further information may be found at: https://www.dgiplc.com
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