TIDMLIFS
RNS Number : 9320V
LifeSafe Holdings PLC
07 December 2023
For immediate release 7 December 2023
LifeSafe Holdings plc
("LifeSafe", the "Group" or the "Company")
Launch of innovative new fluid proven to prevent thermal runaway
fires in high voltage battery packs and signing of two significant
industrial partnerships
Pre-Trauma Fluid Launch
LifeSafe (AIM:LIFS), a fire safety technology business with
innovative fire extinguishing fluids and fire safety products,
announces the launch of its new Pre-Trauma Fluid ("PTF"), a unique,
non-conductive coolant fluid designed specifically to prevent
thermal runaway in battery packs which can be caused by
overheating, overcharging or damage.
The PTF is an innovative, patent pending solution that prevents
the threat of thermal runaway by significantly reducing the
transfer of heat within a battery pack. The PTF is non-toxic,
non-hazardous and importantly non-corrosive, a significant leap
forward in the efforts to better control battery fires in a safe
and more sustainable way.
This fire prevention fluid has been in development for 12 months
in conjunction with several interested parties, including the
partners announced today. The fluid, which has been engineered to
prevent a fire event in a battery pack, can either be built into a
battery unit or delivered by a fixed suppression system.
According to Precedence Research published in 2022, the global
lithium-ion battery market size was valued at $70 billion in 2022
and is expected to surpass $380 billion by 2032(1) . The market
opportunity therefore for the LifeSafe pre trauma fluids and
thermal runaway fluids is both significant and growing.
Industrial Partnerships - Xerotech and Reacton
LifeSafe is also pleased to announce, what the Board believes to
be, a transformative development partnership and collaboration
agreement, signed yesterday, with Xerotech Limited, one of the
fastest growing battery manufacturers in Europe. Xerotech
specialises in the manufacture of high performance, high voltage
batteries and battery packs across multiple sectors including, but
not limited to, heavy machinery, defence, rail and energy. The
partnership agreement will support the development and application
methods for the deployment of LifeSafe's PTF and Thermal Runaway
Fluid ("TRF") to tackle battery overheating and support the cooling
systems.
Furthermore, LifeSafe also signed yesterday a partnership
agreement with global fire suppression manufacturer Reacton Fire
Suppression Limited, which specialises in the manufacture of
automatic fire suppression systems for an extensive range of assets
and industries. Following extensive testing and development, the
partnership will enable Reacton to sell the innovative PTF and TRF
as part of its global fire safety solutions.
Dominic Berger, Chairman of LifeSafe, commented: "We are proud
to announce our new PTF fluid and two exciting industrial contracts
that also see the beginning of new revenue streams for the
business.
Our partnership with Xerotech will take our new, unique and
innovative fluids into a wide range of industrial sectors with an
industry leader and innovator. This partnership unites highly
effective fluids and battery engineering experts in supporting the
growing demand of lithium-ion batteries across multiple
sectors.
"We are equally very pleased to announce a partnership with
Reacton following their first purchase order of our pioneering
Pre-Trauma Fluid taking our products into new markets and
industries with a global industry leader.
"In combination with the recently announced distribution
relationship with Wormald in Australia these new partnerships open
a new significant chapter in the international growth of LifeSafe
as we look forward to 2024."
Tony McDonald, Head of Engineering at Xerotech, commented : "We
are incredibly pleased to have signed this partnership agreement
with LifeSafe which provides the opportunity for us to use their
unique fluids within large scale battery systems and vehicle
applications worldwide."
Ed Chivers, Global Certification Director at Reacton, commented:
"We are delighted to have entered into a partnership agreement with
LifeSafe following extensive testing and development and look
forward to selling their innovative Pre-Trauma and Thermal Runaway
Fluids as an integral part of our fire safety systems
worldwide."
1 https://www.precedenceresearch.com/lithium-ion-battery-market#::text=The%20global%20lithium%2Dion%20battery,USD%
2052.65%20billion%20by%202024
For further enquiries:
LifeSafe Holdings plc Via FTI Consulting
Dominic Berger, Chairman info@lifesafetechnologies.com
Neil Smith, Chief Executive Officer
Mike Stilwell, Chief Financial
Officer
WH Ireland Limited (Nominated Tel: +44 (0) 20 7220 1666
Adviser & Broker)
Chris Fielding
Darshan Patel
Isaac Hooper
FTI Consulting (Financial Communications) Tel: +44 (0) 20 3727 1000
Tom Hufton LifeSafe@fticonsulting.com
Harriet Jackson
Liam Gerrard
Notes to Editors
LifeSafe is a fire safety technology business that develops
eco-friendly, novel and innovative fire extinguishing fluids and
life-saving fire safety products. LifeSafe has developed a market
disrupting range of eco-friendly fire safety protection products; a
new patent-pending Thermal Runaway Fluid to combat lithium battery
fires by permanently extinguishing and preventing re-ignition, and
the StaySafe All-in-1, a handheld eco-friendly and fully recyclable
extinguisher which is verified to extinguish ten different types of
fire and is the number one selling fire extinguisher on Amazon UK.
L ifeSafe is successfully creating new markets for the Group in
fire safety through its innovative technologies, products, digital
marketing and multi-channel sales; and is continuing to develop new
fluid derivations for applications in various industrial market
sectors.
LifeSafe was admitted to trading on AIM in July 2022 with the
ticker LIFS.
For further information please visit: https://www.lifesafeholdingsplc.com .
LinkedIn:
https://www.linkedin.com/company/lifesafe-technologies
Twitter: https://twitter.com/LifesafeT
About Xerotech
Xerotech is an award-winning battery technology company solving
one of our generation's most significant challenges, industrial
electrification. Driven by a shared vision of a fully electric
future, Xerotech's talented team is making an impact on a global
scale providing the first truly credible path to zero emissions and
enables the electrification of machines that were previously too
low-volume to be economically electrified. Our Hibernium(R) battery
pack platform adapts to the bespoke needs of your vehicle or
application. With Hibernium(R), you can choose your desired or
preferred energy content, operating voltage range, physical
dimensions, and even battery cell chemistry. There are no design or
engineering costs, even for one-off prototyping projects making
this solution one of the only viable options for low-volume,
high-diversity projects. The electrification of heavy-duty
machinery is now available to every OEM and Integrator.
Please visit www.xerotech.com for further information.
About Reacton
Reacton Fire Suppression provides reliable, state-of-the-art
fire suppression systems, specially designed to tackle vehicle fire
emergencies swiftly and effectively, in order to help optimise car
passenger safety. Our fire suppression systems for passenger cars
are designed to detect fires and suppress them before they
escalate. When a fire is detected, the system activates and
releases suppression agents, effectively extinguishing the flames
before they cause any serious damage. Our range of fire suppression
systems have been approved and certified for their high performance
and exceptional quality by third-party accrediting bodies.
Please visit www.reactonfire.com for further information.
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December 07, 2023 02:00 ET (07:00 GMT)
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