Libertine Holdings PLC (AIM:LIB) said there is a robust level of interest in its intelliGEN and HEXAGEN linear energy generator technology platforms, with commercial talks underway with original equipment manufacturers (OEMs) concerning various applications.
At its 30 September half-year stage, the group had cash reserves of £0.9 million, which it said would be sufficient to maintain current operations through to May 2024, absent any additional revenues.
In a statement ahead of its annual shareholder meeting, chief executive Sam Cockerill also hailed the completion of the first phase of engineering development with electric vehicle powertrain specialist Hyliion in recent months, with the technology publicly exhibited with the US-based partner’s KARNO Hypertruck commercial vehicle demonstrator and its KARNO generator successfully returning power to the grid in Ohio.
The company also said it is “presently engaged in commercial and technical dialogue under NDA with prospective OEM customers” across different geographic regions and applications such as the decarbonisation of heavy-duty powertrains, distributed power generation and gas compression.
This followed recent technical progress, it explained, including completion of design, manufacture and first phase of combustion testing of an intelliGEN performance validation prototype for heavy-duty powertrain applications, and ongoing enhancements of both intelliGEN and HEXAGEN platforms for performance and durability.
Cockerill added: “We are on track with the implementation of further performance and durability enhancements to our intelliGEN and HEXAGEN platforms. These enhancements are intended to satisfy entry requirements for multiple OEM new product development programmes expected to commence in 2024.
"Commercial interest in our intelliGEN and HEXAGEN technology platforms for the decarbonisation of heavy-duty vehicles, distributed power generation and gas compression applications remains robust. We are making good progress with a number of OEM and end product customers who we anticipate will support the further development of the technology.”