Pareta Motor Patent Granted in China

DG Innovate PLC

18 January 2024

 

18 January 2024

DG Innovate plc

("DG Innovate", "DGI", or the "Company")

Pareta^® Motor Patent Granted in China

Patent accelerates expansion in the world's largest market for electric vehicles

DG Innovate (LSE: DGI), the advanced R&D company developing pioneering solutions in sustainable mobility and energy storage, is pleased to announce that the China National Intellectual Property Administration ("CNIPA") has issued DGI's first-ever Chinese patent, covering its proprietary Pareta^® electric drive system. This grants DGI intellectual property rights for this technology in China, allowing the Company to expand its footprint in the world's largest market for electric vehicles ("EVs").

Commenting, Peter Bardenfleth-Hansen, DGI CEO, said: "The grant of a patent from the CNIPA is a significant milestone for DGI. The market for EVs in China is growing at an unprecedented rate and Pareta^® is a unique and transformative solution: it is safe, scalable, and flexible in its applications, with the potential to transform the future of transport in its path towards decarbonisation. Along with our R&D team, I look forward to driving our growth in the region, leveraging the best of British innovation internationally."

The Pareta^® electric drive system features a parallel and efficient coil system with independent integrated power electronics for each section. The patent specifically relates to a version of the axial flux motor which features a novel winding and magnetic circuit arrangement that keeps costs to a minimum whilst maximising efficiency. DGI has several other motor-related international patents in process, each with unique winding and magnetic geometries.

For more information on the granted patent please see CNIPA's Patent No. 113785472A titled 'Motor/Generator And Motor Drive Circuit'.

For further information please contact:

DG Innovate plc	02920 849 009
Peter Bardenfleth- Hansen (CEO) Jack Allardyce (CFO)
IFC Advisory (Financial PR & IR)	020 3934 6630
Tim Metcalfe Zach Cohen
Grant Thornton UK LLP (Financial Adviser) Samantha Harrison Jamie Barklem Ciara Donnelly	020 7383 5100
Peterhouse (Broker)	020 7469 0930
Rose Greensmith Duncan Vasey Lucy Williams

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:

¾    Enhanced Drive Technology (EDT) - High efficiency, cost-effective electric motors + power electronics; and

¾    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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