12 June 2024
DG Innovate plc
("DG Innovate", "DGI" or the "Company")
Appointment of Chief Technical Officer
DG Innovate (LSE: DGI), the advanced research and development company developing pioneering solutions in sustainable mobility and energy storage, is pleased to announce that ex-Tesla electric motor design engineer Pierre Pellerey has been appointed as the Company's Chief Technical Officer ("CTO"), a non-board position. Pierre was previously appointed as a consultant to the Company, as announced on 3 May 2024.
Pierre holds a PhD in electrical and mechanical engineering and has over 15 years' experience in the design, optimisation and testing of electric motors and drive systems through to production. His motor designs are in more than 3 million electric vehicles, 10 million home appliances and 100,000 micro-mobility solutions. Pierre was instrumental in the design of the Tesla Model 3, Model Y, Model S Plaid and Semi motors. He also played a key part in the design of the V10 motor design during a three-year tenure with Dyson.
Commenting, Peter Bardenfleth-Hansen, CEO of DG Innovate, said: "I am delighted that Pierre has agreed to become DGI's new Chief Technical Officer, demonstrating his confidence in DGI's technology and commercial opportunities. Pierre has already added value to the Company since his appointment as a consultant last month and I believe his appointment as CTO will significantly enhance our ability to deliver on start of production of our Pareta® electric drives on an accelerated timescale, with a world class product. Pierre's motor designs have already helped revolutionise the industry and with him leading the DGI technical team as CTO I am confident that DGI's products will be a significant advancement on anything available on the market today."
For further information please contact:
| DG Innovate plc | C/O IFC |
| Peter Bardenfleth- Hansen (CEO) Jack Allardyce (CFO) | |
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| IFC Advisory (Investor Relations) | 020 3934 6630 |
| Tim Metcalfe Zach Cohen | |
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| FGS Global (Public Relations) | 020 7251 3801 |
| Rollo Head Gordon Simpson Alessandro M Rubin | |
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| Grant Thornton UK LLP (Financial Adviser) | 020 7383 5100 |
| Samantha Harrison Jamie Barklem Ciara Donnelly |
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| Cavendish Capital Markets Limited (Corporate Broker) | 020 7220 0500 |
| Adrian Hadden / George Lawson (Corporate Finance) | |
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 numerous 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:
- Enhanced Drive Technology (EDT) - High efficiency, cost-effective electric motors + power electronics; and
- 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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