Libertine Holdings PLC (AIM:LIB), a developer of linear generator technology, said it is currently in discussions with prospective manufacturing customers as it provided commentary on the financial year just gone and primed the market on what to expect over the coming months.
"Commercial interest in our intelliGEN technology for the decarbonisation of heavy-duty vehicles and distributed power generation continues to remain robust and we are making good progress with a number of OEM [original equipment manufacturer] and end product customers who we anticipate will support the further development of the technology," said chief executive Sam Cockerill.
In the year just gone, Libertine completed work to integrate its HEXAGEN hermetic linear generator technology into Hyliion's first prototype KARNO Hypertruck. This commercial vehicle demonstrator was showcased at the ACT Expo in Anaheim, California, in May.
It also completed the design, manufacture, and testing of its intelliGEN performance validation prototype linear generator for heavy-duty powertrain applications. Libertine has pre-funded the construction of additional intelliGEN prototypes to support OEM development programmes.
A memorandum of understanding has been signed with Ashok Leyland to explore the use of Libertine's intelliGEN technology for commercial vehicle powertrain development.
As of 31 August 2023, Libertine had cash reserves of £1.2 million, sufficient to maintain operations through to May next year. It posted a loss before tax of £4.1 million.