Announcement • Jan 16
DG Innovate plc Provides Update on P80 Motor Development DG Innovate plc provided an update on development of its Pareta®? P80 motor. Following the announcement on 27 November 2024 that it had signed a Joint Venture Agreement (JVA) with EVage Automotive Pvt. Limited (EVage) to manufacture and supply a range of DGI's Pareta e-drives, the Company is pleased to provide an update on development of its Pareta P80 motor. The engineering team are currently finalising the construction of six A-sample motors, which will undergo rigorous, state-of-the-art performance and reliability testing over the next two months. The findings from these tests, along with valuable input from the Company's supply chain, will inform the development of subsequent B sample motors. These B samples will represent designs that are nearly production-ready, with finalisation planned by March 2025. Announcement • Jan 15
DG Innovate plc Announces Board Changes DG Innovate Plc announces that Jochen Rudat (Executive Director) and Trevor Gabriel (Non-Executive Director) have offered to step down as Directors with immediate effect, to help the Company reduce its ongoing cost base and streamline the Board. This follows the Company's announcement on 31 December that it intends to cancel the admission to trading of its ordinary shares on the Main Market of the London Stock Exchange, with various other steps also being taken to reduce costs and ensure that the Board and wider team are of an appropriate size as DGI continues to progress the commercialisation of its technology. Following these changes, the Board of the Company comprises: Peter Bardenfleth-Hansen (Chief Executive Officer), Christian Eidem (Executive Director), Jack Allardyce (Chief Financial Officer), Sir Michael Fallon (Independent Non-Executive Director) and Mark Carleton (Independent Non-Executive Director). Announcement • Dec 31
DG Innovate Intends to Delist from London Stock Exchange Effective January 31, 2025 DG Innovate plc announced its intention to cancel the listing of the Company's ordinary shares ("Shares") on the Equity Shares (Transition) category of the Official List of the Financial Conduct Authority ("FCA") and the admission to trading of its Shares on the Main Market of the London Stock Exchange. DGI's management team has made significant operational progress over the past 12 months, including: signing of the Indian Joint Venture Agreement with EVage, delivering the Pareta P450 and e-brake motor prototypes to partner Cummins, and completion and initial testing of the first P80 samples in the past week. Despite this, the Company has found it difficult to raise sufficient funds to invest in its commercialisation strategy during this period, and in general since coming to market via reverse takeover in April 2022. This is in part due to its current listing and the constraints of the associated prospectus rules. However, it is also clear that there has been and remains a broad lack of demand for exposure to companies at DGI's current stage of development within the UK's traditional institutional investor base. The DGI Directors do not foresee any obvious near-term catalysts likely to change this backdrop and have therefore concluded that the costs, regulatory requirements and additional administrative burden associated with maintaining the Company's listing are now, in their opinion, completely disproportionate to the benefits. Furthermore, current discussions with potential investors who could substantially invest in DGI were it no longer listed has given the Directors confidence that this provides the best available route to significant funding. In order to continue these funding discussions and focus management resources on operational matters, the Board has therefore concluded that it is necessary to cancel the listing of the Company's Shares on the Equity Shares (Transition) category of the Official List and to cancel the admission to trading of the Shares on the Main Market for listed securities of the London Stock Exchange ("LSE") (the "Delisting"). The Directors believe that the Delisting will significantly reduce the Company's cost base and assist the Company in raising the capital it requires to invest in its products and assembly capacity, and grow the business. The Directors remain absolutely committed to delivering value for all DGI's shareholders, with whom the Board are substantially aligned, given their respective shareholdings. The Directors believe that this course of action is the most appropriate to take at this time. As a company listed on the Equity Shares (Transition) category, the Company is not required to obtain the approval of its shareholders for the Delisting, but is required under UK Listing Rule 21.2.17 to give at least 20 business days' notice of the intended cancellation. Accordingly, DGI has requested that (i) the FCA cancel the listing of the Shares on the Official List of the FCA, and that (ii) the LSE cancels the admission to trading of the Shares on the Main Market for listed securities of the LSE. It is anticipated that the Delisting will become effective from 8:00 a.m. (London time) on 31 January 2025. Investors holding Shares following the Delisting will remain a shareholder of DG Innovate and continue to be entitled to exercise all of the rights attaching to the Shares. Announcement • Dec 11
DG Innovate Plc has completed a Follow-on Equity Offering in the amount of £0.5 million. DG Innovate Plc has completed a Follow-on Equity Offering in the amount of £0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 625,000,000
Price\Range: £0.0008
Transaction Features: Regulation S; Subsequent Direct Listing New Risk • Oct 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.44m (US$9.72m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Revenue is less than US$1m (UK£116k revenue, or US$152k). Market cap is less than US$10m (UK£7.44m market cap, or US$9.72m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£3.4m net loss in 2 years). Shareholders have been diluted in the past year (16% increase in shares outstanding). Reported Earnings • Oct 02
First half 2024 earnings released: EPS: UK£0 (vs UK£0 in 1H 2023) First half 2024 results: EPS: UK£0 (in line with 1H 2023). Net loss: UK£3.04m (loss widened 60% from 1H 2023). Revenue is forecast to grow 121% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in the United Kingdom. Announcement • Aug 29
DG Innovate Announces Board Resignations DG Innovate announced that in order to reduce the Company's ongoing cost base and ensure that its Board is of an appropriate size and composition as it further progresses the commercialisation of its technology, Nick Tulloch (Non-Executive Chairman) and Peter Tierney (Non-Executive Director) have stepped down as Directors with immediate effect.
Following these changes, the Board of the Company comprises: Peter Bardenfleth-Hansen (Chief Executive Officer), Christian Eidem (Executive Director), Jochen Rudat (Executive Director), Jack Allardyce (Chief Financial Officer), Sir Michael Fallon (independent Non-Executive Director), Mark Carleton (independent Non-Executive Director) and Trevor Gabriel (Non-Executive Director). Announcement • Jul 09
DG Innovate Plc Announces Appointment of Mark Carleton as an Independent Non-Executive Director DG Innovate Plc announced the appointment of Mark Carleton as an independent Non-Executive Director of the Company with immediate effect. From 2003 to 2021, Mark held a number of senior executive positions at Liberty Media, including serving as Chief Financial Officer and leading Liberty's acquisition of Formula One. Prior to this, Mark was a Partner at KPMG, where he had overall responsibility for the communications sector and served on the Board of Directors. Mark is currently a senior advisor to Mubadala Capital, which is part of the Abu Dhabi sovereign wealth fund. He also sits on the Board of Reef Technology, the operator of parking real estate and delivery kitchens in North America, and serves as Chairman of the Limited Party Advisory Committee of Alignment Growth Fund I LP, a growth stage investment fund focused on the media and gaming sectors. He holds a bachelor's degree in Accounting from Colorado State University and is a Certified Public Accountant (retired). Following Mark Carleton's appointment, the Board of the Company comprises: Nicholas Tulloch (Non-Executive Chairman), Peter Bardenfleth-Hansen (Chief Executive Officer), Christian Eidem (Executive Director), Jochen Rudat (Executive Director), Jack Allardyce (Chief Financial Officer), Sir Michael Fallon (independent Non-Executive Director), Mark Carleton (independent Non-Executive Director), Peter Tierney (Non-Executive Director) and Trevor Gabriel (Non-Executive Director). Announcement • Jun 21
DG Innovate Plc Announces the Appointment of Michael Fallon KCB as Independent Non-Executive Director DG Innovate Plc announced the appointment of Rt Hon Sir Michael Fallon KCB as an independent Non-Executive director of the Company with immediate effect. Sir Michael is a former British Member of Parliament and Minister, with 30 years of senior political and business experience, serving in four British Cabinets, and as a Non-Executive Director on a number of private and public company boards. First elected to Parliament in 1983, he served as Schools Minister, Minister of State for Business, Energy Minister, and Defence Secretary. As Minister of State for Business Sir Michael had responsibility for the automotive, aerospace, chemical and steel industries. As Minister of State for Energy he had responsibility for the nuclear, oil, gas, electricity and renewables industries. As Defence Secretary, Sir Michael had overall responsibility for the armed forces and a £35 billion annual budget. He led the Strategic Defence and Security Review of 2015 and represented the UK at various NATO summits. He stepped down as an MP ahead of the 2019 general election. Sir Michael has been a director of several companies with entrepreneur Duncan Bannatyne. He has served on the boards of portfolio companies owned by private equity firms Alchemy Partners and Industri Kapital, he was for eight years a main board director of the inter-dealer broker Tullett Prebon plc and recently stepped down as a Non-Executive Director of Genel Energy plc. Sir Michael is Chairman of abrdn Investcorp Infrastructure Partners, which invests in social infrastructure and renewable energy projects in the Gulf. Following Sir Michael's appointment the Board of the Company comprises: Nicholas Tulloch (Non-Executive Chairman), Peter Bardenfleth-Hansen (Chief Executive Officer), Christian Eidem (Executive Director), Jochen Rudat (Executive Director), Jack Allardyce (Chief Financial Officer), Sir Michael Fallon (Non-Executive Director), Peter Tierney (Non-Executive Director) and Trevor Gabriel (Non-Executive Director). Announcement • May 10
DG Innovate Plc has completed a Follow-on Equity Offering in the amount of £0.7865 million. DG Innovate Plc has completed a Follow-on Equity Offering in the amount of £0.7865 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 786,500,000
Price\Range: £0.001
Transaction Features: Regulation S; Subsequent Direct Listing New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m (UK£35k revenue, or US$43k). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (UK£14.6m market cap, or US$18.2m). Announcement • Jan 08
DG Innovate Plc Announces the Completion of the First Phase of Its Project to Utilise the Company's Pareta E-Drive in Marine Applications DG Innovate Plc announced the completion of the first phase of its project to utilise the Company's Pareta e-drive in marine applications. As previously announced, DG Innovate was awarded grant funding at the beginning of 2023 for a feasibility study into the use of the Company's Pareta®? e-drive for marine operations alongside a partner providing a hydrogen fuel cell power system. This project has now delivered a fully costed design for an integrated fuel cell and powertrain system using the Company's technology. With no gearbox involved the driveline is much more efficient and reliable compared to the current diesel engine /gearbox system, together with offering the benefits of zero emissions. The system design was overseen and guided by Lloyd's Register's risk-based design guidelines and DG Innovate reported that "Approval in Principle" has now been received from Lloyd's Register for the Company's Pareta™? e-drive system to be fitted to marine vessels - one of the primary target outcomes from the project. Utilising DG Innovate's high efficiency modular drive motor and integrated inverter, the project has defined a system level segmented marinised fuel cell energy supply, feeding a similarly segmented driveline delivering circa 3MW power. The system is designed to deliver zero-emission power to a ship saving approximately 1700kg of CO2 equivalent per hour at 3MW as compared to diesel powered vessels. The primary near term potential market for a circa 3MW system is expected to be power for workboats and crew transfer vessels servicing offshore installations in the North Sea and elsewhere. Hundreds of such vessels are expected to be commissioned in the UK to service wind farms and other offshore installations. The next stage of the project, for which the Company expects to receive further grant funding, will lead towards a full demonstration vessel project. Announcement • Dec 13
DG Innovate Plc announced that it has received £2.4 million in funding DG Innovate Plc announced a private placement of unsecured convertible notes for the gross proceeds of £2.4 million on December 11, 2023. The notes will bear zero interest and are convertible into at a price of £0.0035. New Risk • Nov 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£1.5m free cash flow). Earnings have declined by 43% per year over the past 5 years. Revenue is less than US$1m (UK£35k revenue, or US$43k). Market cap is less than US$10m (UK£3.33m market cap, or US$4.14m). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Announcement • Sep 05
DG Innovate plc Showcases Comprehensive EV Solutions at CENEX-LCV 2023 DG Innovate announced that the Company will be showcasing a comprehensive package of products and solutions for designers, manufacturers and operators of electric vehicles ("EVs") at CENEX-LCV 2023, the UK's premier exhibition and conference devoted to low-carbon vehicle and fuel cell technologies. CENEX-LCV2023 is being held on 6 and 7 September 2023 at UTAC Millbrook, near Bedford, UK. DG Innovate will be highlighting its E-Axle for buses and other heavy vehicles, which has been developed in collaboration with BRIST Axle Systems S.r.l. This is a complete assembly with the Company's fully integrated Pareta motor and drive. It is a plug-and-play solution for axles with up to 13 tonne ratings and is suitable for both retrofit and new build applications. A key benefit is that the integrated design frees up more space for batteries, allowing vehicles to achieve greater range. Also on show for the first time will be DG Innovate's Pareta fleet monitoring and tracking system, which provides powerful cloud-based tools for EV fleet management. The system continually shows the location of all vehicles in the fleet on a map-based display, and, simply by tapping the relevant vehicle icon, the user can instantly call up performance data and energy level. Data is also stored for later analysis to allow comparisons between vehicles and between drivers. Another innovation on the DG Innovate stand at CenEX-LCV 2023 will be a software package that simulates EVs and allows them to be virtually driven over user-defined terrain so that the performance of various drive options can be evaluated and compared. At the exhibition, this software has been partnered with a driving station to provide live demonstrations. To complement its new introductions, DG Innovate is showing motors and inverters from its Pareta range. These use a unique segmented architecture that splits the inverter and the torque producing elements into multiple segments. This provides numerous benefits, including improved efficiency, enhanced thermal characteristics, operation from safer low voltage supplies and class-leading mass and volumetric power density. In addition, Pareta drives offer unmatched fault resilience as, if a segment fails, the drive continues to operate normally except for a slight reduction in maximum torque. Announcement • Jun 23
Deregallera Holdings Ltd has completed a Follow-on Equity Offering in the amount of £0.517 million. Deregallera Holdings Ltd has completed a Follow-on Equity Offering in the amount of £0.517 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,034,000,000
Price\Range: £0.0005
Transaction Features: Subsequent Direct Listing Announcement • Jun 22
Deregallera Holdings Ltd, Annual General Meeting, Jul 19, 2023 Deregallera Holdings Ltd, Annual General Meeting, Jul 19, 2023, at 10:00 Coordinated Universal Time. Location: offices of Fasken Martineau LLP, 100 Liverpool Street London United Kingdom Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (7 non-independent directors). Independent Non-Executive Director Stephen Gary Dalton is the most experienced director on the board, commencing their role in 2022. Independent Non-Executive Director Pat Symonds was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Oct 12
Deregallera Holdings Ltd, Annual General Meeting, Nov 08, 2022 Deregallera Holdings Ltd, Annual General Meeting, Nov 08, 2022, at 10:00 Coordinated Universal Time. Location: at the offices of Fasken Martineau LLP, 100 Liverpool Street London United Kingdom Announcement • Aug 30
Deregallera Holdings Ltd Announces Commercial Update DG Innovate provided an update on the accelerated commercialisation programme for its suite of technologies. Highlights: Testing of 250kW Pareta©high-performance electric vehicle drive underway. Initial performance results in line with expectations. Cycle testing ongoing for a further two months. Collaborative commercial dialogue continues to gather momentum with key partners and launch customers. Hard carbon anode material testing underway with positive initial results. Testing of the Company's 250kW Pareta©high-performance electric vehicle drive is now underway. Initial performance results are encouraging, and in line with concept expectations. Cycle testing is expected to continue for a further two months, with results to be reported in due course. The Pareta©High Efficiency Parallel Motor for Automotive Application project, being undertaken by a consortium including the Company and Meritor Electric Powertrain Systems UK Ltd. (a subsidiary of US-headquartered global commercial vehicle components company, Meritor Inc), is therefore progressing positively in line with its targeted key milestones for new product development. The Company also continues to progress commercial discussions with its collaborative partners and potential launch customers. The initial formulation and testing of a hard carbon anode material from a sustainable bio waste product has advanced to the point of benchmark testing, with good initial results. Plans are now being formulated to supply small batch samples of material to key battery partners who consider this to be a potentially disruptive alternative in the aspiration to reduce dependency on hydrocarbon-derived anodes for both sodium and lithium-ion technologies. Board Change • Aug 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Non-Executive Director Pat Symonds was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Non-Executive Director Pat Symonds was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 02
DG Innovate Announces Resignation of Christopher Theis as Director DG Innovate announced that further to the 'Board Changes' announcement made earlier Christopher Theis, a director of the Company and its former Chief Executive Officer, has resigned from the Company with immediate effect. Announcement • May 16
Deregallera Holdings Announces Executive Changes Deregallera Holdings Ltd. announced the appointment of Peter Tierney as the Company's new Chief Executive Officer, effective from 1 July 2022. Peter Tierney is an experienced Chief Executive with over 30 years' experience in operating and developing growth orientated service and manufacturing businesses. He was until recently Chairman and Chief Executive officer of Lewmar Marine Limited ("Lewmar Marine"),a private equity backed international marine manufacturing and distribution business. Upon Peter Tierney's appointment on 1 July 2022, Christopher Theis, the Company's current Chief Executive Officer, will assume the role of Executive Chairman for a period of four months to ensure an orderly hand over of responsibilities to Peter, before he takes the role of Non-Executive Chairman of the Company from 1 November 2022. Announcement • May 10
DG Innovate Announces Introduction of 400KW Pareta E-Drive DG Innovate announced the extension of its Pareta©range of high-performance electric vehicle drives to now include a 400kW version suitable for heavy vehicle applications. The 400kW Pareta©integrated E-drive is being developed in collaboration with a tier 1 supplier to the commercial vehicle industry with whom the Company has a good and evolving relationship. The 400kW Pareta© drive specification was defined by the Customer to target its growing E-drive needs. DG Innovate's Pareta range of ultra-reliability high efficiency E-drives are designed to offer class leading performance and power. Founded on the Company's extensive experience in military high-performance E-drive applications, DG Innovate, in conjunction with the Customer, has now focused its expertise and its Pareta©concept on the commercial heavy goods vehicle sector, where the Company sees significant commercial opportunities. With a compact integrated high power silicon carbide inverter, the 400kW Pareta©unit measures 400mm in diameter by 270mm in length, making the combination one of the most compact available. It is seen by the Company as a leading contender for use in the heavy truck, bus and delivery van markets; military land vehicles and sea vessel drives; along with having a suitability for safety critical aircraft drives. The 400kW unit extends DG Innovate's Pareta©family of E-drives which already includes 250kW and 100kW sizes. Performance and endurance verification testing of the 400kW Pareta©is planned to begin in the coming weeks and the Company looks forward to providing further updates in due course. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Non-Executive Director Pat Symonds was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
