Last checked at 7 Jun 2022 07:00
7 June 2022
Libertine Holdings PLC
("Libertine" the "Company" or the "Group")
Libertine awarded £423,260 UK grant funding to advance project with MAHLE Powertrain
Libertine Holdings PLC (LSE AIM: LIB), a developer of clean, highly efficient and fuel-flexible Linear Generator products, has been awarded £423,260 grant funding by the Department for Business, Energy & Industrial Strategy (BEIS) as part of the first phase of its Red Diesel Replacement Competition. Funding will be used to support further development with MAHLE Powertrain on the decarbonisation of heavy-duty vehicle powertrains, and will finance fuel system adaptations to demonstrate Hydrogen (H2) and Compressed Natural Gas (CNG) fuel flexibility.
The 11-month project focuses on the modification of an existing 2-cylinder opposed free piston Linear Generator, already developed by Libertine and MAHLE Powertrain as part of the UK Government funded Small Business Research Initiative (SBRI) Phase 2 programme, through which Libertine was awarded £2.1m in funding last year. The planned modifications will demonstrate the flexibility of Linear Generators, adapting the technology to allow it to run on blends of CNG and H2 ranging from 100% CNG to 100% H2, moving towards the replacement of red diesel in the mining and construction sectors.
A linear generator sub-system capable of operating on 100% H2 could enable the decarbonisation of construction and mining equipment, in the UK and globally, where full battery electrification is not practical. Compatibility with CNG fuel, already in widespread use, has the potential to accelerate the adoption of such powertrains in advance of deployment of a hydrogen refuelling infrastructure. Through demonstrating fuel flexibility from CNG through to H2, the Linear Generator has the potential to shorten the path towards net-zero and beyond, establishing it as a long-term solution for transitioning to clean energy as fuel sources evolve.
Furthermore, the ability to utilise lower purity H2 and H2/CNG blends, whilst delivering ultra-low NOX performance, de-risks technology adoption for end-users and reduces the barriers towards full H2 adoption. These characteristics have major benefits across UK off-highway sectors, allowing for a faster, lower investment transition to net-zero, but importantly also offer a major advantage in export markets where grid and H2 re-fuelling infrastructure is less mature.
Sam Cockerill, Chief Executive of Libertine, commented:
"We are delighted to have been awarded further funding to continue to build on our work with MAHLE Powertrain. We believe Libertine's technology will play an essential role on the path to Net Zero for heavy duty powertrains, complementing battery electrification with clean power from renewable fuels. We are grateful to the UK government for their support and look forward to delivering this exciting project."
For further information, please visit www.libertine.co.uk or contact:
Libertine Holdings PLC | via Tavistock |
Sam Cockerill, Chief Executive Officer | |
Gareth Hague, Chief Financial Officer | |
Panmure Gordon (NOMAD and Broker) | +44 20 7886 2500 |
John Prior | |
Ailsa Macmaster | |
Hugh Rich (Corporate Broking) | |
Tavistock (Public Relations and Investor Relations) | +44 207 920 3150 |
Simon Hudson | libertine@tavistock.co.uk |
Rebecca Hislaire | |
Nick Elwes |
Notes to editors
Founded in 2009, Libertine has developed a technology solution for powertrain Original Equipment Manufacturers ("OEMs"), enabling efficient and clean power generation from renewable fuels. Libertine was admitted to trading on the AIM market of the London Stock Exchange in December 2021.
Libertine's linear electrical machines, controls and developer tools together form a technology platform (intelliGEN™) which the Company provides to OEM customers for the development of clean, highly efficient and fuel-flexible Linear Generator products. The platform is a result of over a decade of development of Linear Generator technology with multiple successful client-led development programmes.
Linear Generators have the potential to complement battery electrification within hybrid powertrains as range extenders, addressing a number of significant practical and economic barriers to the rapid adoption of clean electric propulsion using battery electric powertrain technology alone.
The potential market for Linear Generator products goes well beyond the distributed power generation applications where Linear Generators are already in commercial use today to supplement energy storage. The addressable market for Linear Generators also includes over 12 million heavy-duty and light duty commercial vehicles, off-grid and waste-to-energy applications, as well as more than 1 million distributed power generator sets for energy storage, which alone is estimated to be worth between $12-20 billion by 2025.
Linear Generator products using Libertine's technology could work alongside battery electrification in hybrid systems to accelerate the decarbonisation of 'hard to electrify' applications, including:
Heavy-duty and off highway powertrains;Medium and light-duty commercial hybrid vehicles;A proportion of the passenger automotive market where vehicle use, and recharging constraints are a barrier to electrification; andA range of distributed power generation applications.Libertine receives engineering fees by providing linear e-machine hardware, controls and developer tools. Working with OEMs ensures Libertine's technology platform is effectively integrated into OEM partner product development programmes from an early stage in the development cycle, maximising the performance and economic benefits provided by Libertine's platform technology.
Libertine has developed a portfolio of over 30 granted patents in addition to a significant body of technical know-how developed since the company's formation in 2009. The Company's senior management team and board includes executives with decades of deep technical experience in the automotive and energy industries.