Libertine Holdings PLC Novation of Master Consultancy Services Agreement (9154A)
September 28 2022 - 1:02AM
UK Regulatory
TIDMLIB
RNS Number : 9154A
Libertine Holdings PLC
28 September 2022
28 September 2022
Libertine Holdings PLC
("Libertine" the "Company" or the "Group")
Libertine announce novation of Master Consultancy Services
Agreement to Hyliion Holdings Corp.
Libertine Holdings PLC (LSE AIM: LIB), a developer of clean,
highly efficient, and fuel-flexible Linear Generator technology,
announces that following the closing of the previously announced
deal to acquire a new hydrogen and fuel agnostic capable generator
technology, KARNO(TM) , by Hyliion Holdings Corp. (NYSE: HYLN,
"Hyliion") from the General Electric Company (NYSE: GE, "GE"), it
has agreed to the novation of its Master Consultancy Services
Agreement with GE to Hyliion.
HYLN has engaged Libertine to support the development of the
electrical linear generator for the KARNO generator. The KARNO
generator will be deployed in Hyliion's Hypertruck powertrain
platform to offer a next-generation, fuel-agnostic semi-truck
solution. Further details on Hyliion are set out in the appendix of
the announcement.
Sam Cockerill, Chief Executive of Libertine, commented: "We are
pleased to approve the novation of our Master Consulting Services
Agreement to Hyliion and continue to support the development of the
electric machine into Hyliion's fuel agnostic technology for the
Hypertruck KARNO. It has been a pleasure to work with GE on this
project and we look forward to working closely with Hyliion in the
future, to support their product development roadmap."
For more 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
Dougie McLeod
Hugh Rich (Corporate Broking)
Tavistock (Public Relations and Investor
Relations) +44 207 920 3150
Simon Hudson libertine @tavistock.co.uk
Rebecca Hislaire
Charles Baister
About Libertine
Founded in 2009, Libertine has developed a technology platform
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(TM)) which the Company provides to 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 programmes.
The potential market for Linear Generator products goes well
beyond the distributed power generation applications where Linear
Generators are already in commercial use today, complementing
intermittent renewable power with clean, on-demand power
generation. Linear Generators also have the potential to complement
battery electrification in hybrid powertrains as range extenders,
addressing the practical and economic barriers to rapid adoption of
clean electric propulsion using battery electric powertrain
technology alone. Linear Generator products using Libertine's
technology could work alongside battery electrification in a wide
range of hybrid systems including:
-- Heavy-duty hybrid powertrains of trucks, buses, tractors, construction and mining equipment
-- Medium and light-duty hybrid powertrains of commercial
vehicles operating over longer distances;
-- A proportion of the passenger automotive market where vehicle
use and recharging constraints are a barrier to battery
electrification; and
-- A wide range of off-grid, portable power and distributed power generation applications.
Working with OEMs from an early stage in the development cycle
ensures Libertine's technology is effectively integrated into OEM
products, 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.
About Hyliion
Hyliion's (NYSE: HYLN) mission is to reduce the carbon intensity
and greenhouse gas (GHG) emissions of Class 8 commercial trucks by
being a leading provider of electrified powertrain solutions.
Leveraging advanced software algorithms and data analytics
capabilities, Hyliion offers fleets an easy, efficient system to
decrease fuel and operating expenses while seamlessly integrating
with their existing fleet operations. Headquartered in Austin,
Texas, Hyliion designs, develops, and sells electrified powertrain
solutions that are designed to be installed on most major Class 8
commercial trucks, with the goal of transforming the commercial
transportation industry's environmental impact at scale. For more
information, visit www.hyliion.com .
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