DG Innovate PLC News

DG Innovate Plc



DG Innovate (DGI), the advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and energy storage, is pleased to announce that the Company has signed a Joint Development Agreement with a tier-one commercial vehicle components company, to jointly develop systems for heavy goods vehicles applications utilising DG Innovate's Pareta® drive technology.

The Pareta® system provides a simpler, lighter and more cost-effective solution, applicable over a range of applications for both new generation electric and hybrid heavy goods vehicles, as well as those continuing to be powered by internal combustion engines. By applying DGI's technology utilised in the Company's Pareta® drives, the parties believe leading performance systems can be developed. Designed to provide redundancy within the system, to be robust, fit in the existing available spaces, and respond rapidly with appropriate force. Inbuilt processing power/intelligence further provides additional functionality, making each application a powerful, intelligent sub-system in its own right.

The Agreement, which includes funding to the Company, covers the first proof of concept stage, that will see prototypes produced in H1 2024, followed by on vehicle trials in H2 2024.

Commenting, Peter Bardenfleth-Hansen, CEO of DG Innovate, said: "This agreement with a global leader in commercial vehicle components highlights the substantial and varied opportunities for the technology behind DGI's Pareta® drive in a very large market. I look forward to providing further updates on this project, and more generally, as we leverage DGI's technology and build a scaled business focused on green technology."

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