During the first half of Libertine Holdings PLC (AIM:LIB)’s financial year, the AIM-listed technology company continued to develop its intelliGEN and HEXAGEN technology platforms which it provides to OEM customers for their development of linear generator and linear motor products.
The integration of Libertine's HEXAGEN hermetic linear generator technology into Hyliion's KARNO generator ALPHA prototypes stood out, particularly with the May 2023 exhibition of Hyliion's KARNO Hypertruck commercial vehicle demonstrator at the ACT Expo in Anaheim, California.
A notable achievement in October 2023 was a KARNO generator, incorporating Libertine's HEXAGEN technology, successfully feeding power back to the grid in Ohio.
Furthermore, Libertine completed the first phase of engineering development with Hyliion, moving into a six-month option period for the licensing of the HEXAGEN platform technology IP.
As of 30 September, Libertine had cash reserves of £900,000, which provides the group, absent any additional revenues, with the funds required to maintain current operations through to May 2024.
Chief executive Sam Cockerill commented: "We are on track with the implementation of further performance and durability enhancements to our intelliGEN and HEXAGEN platforms.
“These enhancements are planned 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 remains strong, supported by the technical progress demonstrated in 2023.
“Prospective customer applications span distributed power generation, heavy-duty vehicles, and gas compression.”
Cockerill said Libertine is “making good progress with a number of OEM and end product customers in the US, Europe, Middle East and India who we anticipate will incorporate our platform technology into their product development and demonstration programmes”.