DG Innovate (DGI), the advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and energy storage, is pleased to announce that the Company has signed a Joint Development Agreement with a tier-one commercial vehicle components company, to jointly develop systems for heavy goods vehicles applications utilising DG Innovate's Pareta® drive technology.

The Pareta® system provides a simpler, lighter and more cost-effective solution, applicable over a range of applications for both new generation electric and hybrid heavy goods vehicles, as well as those continuing to be powered by internal combustion engines. By applying DGI's technology utilised in the Company's Pareta® drives, the parties believe leading performance systems can be developed. Designed to provide redundancy within the system, to be robust, fit in the existing available spaces, and respond rapidly with appropriate force. Inbuilt processing power/intelligence further provides additional functionality, making each application a powerful, intelligent sub-system in its own right.

The Agreement, which includes funding to the Company, covers the first proof of concept stage, that will see prototypes produced in H1 2024, followed by on vehicle trials in H2 2024.

Commenting, Peter Bardenfleth-Hansen, CEO of DG Innovate, said: "This agreement with a global leader in commercial vehicle components highlights the substantial and varied opportunities for the technology behind DGI's Pareta® drive in a very large market. I look forward to providing further updates on this project, and more generally, as we leverage DGI's technology and build a scaled business focused on green technology."

DG Innovate plc

Appointment of Corporate Broker

DG Innovate (LSE: DGI), the advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and energy storage, announces that it has appointed Cavendish Capital Markets Limited as the Company's sole Corporate Broker with immediate effect."

The Liverpool City Region Combined Authority has granted a £440,000 loan to Happy Drinks Company, a business founded by type 1 diabetic Ian Minton, aimed at creating soft drinks free of artificial sweeteners. The loan, from the Flexible Growth Fund, will help expand the company's bottling and manufacturing capacity, leading to the creation of 24 new jobs. The Sefton-based company, which already supplies major retailers like Lidl and M&S, focuses on using natural, stevia-based ingredients. This investment supports local economic development and aligns with the Authority's goal of social and economic improvements in the region.

For more details, you can visit the original article click here 

Due to poor market conditions the shares in Lifesafe have traded down from £0.75p since their IPO last year but last week the companies analyst has valued the business at £1.01p per share

The report contains a great deal of very useful information on the Company and includes detailed financial projections - some highlights below

"Encouraging Jan’23 update: Bearing in mind strong momentum reported last month and in September (£2.6m sales in 2H22 as against £1.3m in 1H22), we are now raising our FY23E sales forecast by 18% to £6.5m, and reducing FY23E PBT losses by £100k to £0.4m. This follows on from the previous 30% upgrade to revenues for FY22E."

"Strong brand on Amazon, US shines in particular: Launched on Amazon Prime in the UK in Aug’21, LIFS’ product swiftly became a top seller. With the US launch in 1H22, FY22E has exhibited an accelerating US contribution, an encouraging development."

"Market opportunity: We see a significant opportunity based on the combination of sizeable demand in the UK/globally and the lack of a flexible lightweight alternative to LIFS’ product - borne out by the strong progress of the product since launch."

"Growing and diversifying: Supported by patents pending and granted, the company is developing the next generation of products, which include new environmentally friendly fluids, and a spread of products that will ensure continuing strong growth on top of the benefits of the geographical rollout of the existing product base."

Forecasts/valuation: LIFS has demonstrated strong momentum within its B2C proposition with its product clearly gaining significant global traction while also enjoying downturn protection as an inexpensive but key safety product. The global issue of increasing lithium–ion battery fires and the launch of the TRF fluid in 12/22 provides significant potential future B2B revenue streams. Our current 101p fair value assessment is reached through a combination of relative / cashflow considerations.

The full report can be found on the following link 

https://www.lifesafeholdingsplc.com/research

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire extinguishing fluid and fire safety products, reports its maiden unaudited Interim Results for the six months ended 30 June 2022 ('H1 2022' or 'the Period').

Highlights:

¹ Underlying loss from operations represents loss before tax, finance expense and non-underlying items (which comprise IPO listing costs and share-based payment charges).

Commenting on the Interim Results, Dominic Berger, Executive Chairman of LifeSafe, said: "We are pleased to report today our maiden set of Interim Results since our Admission to AIM in July 2022.  The Group has delivered strong operational and strategic progress in H1 2022, which reflects the successful commercialisation of our StaySafe 5-in-1 product since its launch in August 2021.  In H1 2022, we have almost doubled the revenues that we generated in all of 2021 and this strong momentum has continued into H2 2022 with revenues continuing to grow ahead of the Board's expectations.

"With the funds raised at IPO now underpinning our expansion, we look forward to 2023 where we are confident of further consolidating our leading direct to consumer strategy, of growing sales in the UK, North America and Europe and of accessing new markets.  In addition, our continued development and optimisation of our eco-friendly fire extinguishing fluids is beginning to resonate in the wider B2B fire safety market, where we are very excited about the potential game-changing opportunities in the industrial supply of LifeSafe's fluids.

"Not least of course, is the opportunity the Group has in working with industry leaders and innovators to address the very real and present threat of dealing with lithium-ion battery fires, a market we believe to have significant potential.

"As such, the Group is well placed to drive further growth and are confident of delivering shareholder value."

Notes to Editors

LifeSafe is a fire safety technology business that develops eco-friendly, novel and innovative fire extinguishing fluids with a range of life-saving fire safety products.  LifeSafe has a highly experienced management team which is seeking to create new markets for the Group in fire safety through new technologies, digital marketing, multi-channel sales and the LifeSafe App.

LifeSafe has developed what the Directors believe to be a market disrupting range of eco-friendly fire safety protection products to both protect (via fire extinguishers) and detect (via carbon monoxide, smoke and heat alarms) fires.  At the centre of the Group's product range is the FER1000 extinguishing fluid, for which the Group has been granted a patent in the UK.  The FER1000 fluid has been developed by LifeSafe to extinguish five different types of fire: electrical, paper, textiles, cooking oil, and petrol and diesel.

The Group's best-selling product using this extinguishing fluid is the StaySafe 5-in-1 fire extinguisher.  It was launched on Amazon Prime in the UK in August 2021 and subsequently became Amazon Prime's top-selling fire extinguisher in the UK in the same month.  The StaySafe 5-in-1 and the PanSafe pan fire extinguisher were launched in Screwfix in Spring 2022 with the StaySafe range of smoke, heat and carbon monoxide detectors.

LifeSafe is developing new fluid derivations and products for launch in 2023.

LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.L.  For additional information please visit https://www.lifesafeholdingsplc.com.

LinkedIn: https://www.linkedin.com/company/lifesafe-technologies

Twitter: https://twitter.com/LifesafeT

Chairman's Statement

Business Review

I am very pleased to report on the strong operational and strategic progress made by the Group in H1 2022. This achievement is particularly significant given the huge time and effort demanded of the management team and its advisors in preparing the Group for the IPO and Admission to AIM on 6 July 2022.  It is testament to the hard work of the team, and the significant potential of the business model and proposition, that LifeSafe was one of only a handful of successful AIM listings this year. This was a superb achievement given the worsening domestic and international macro-economic landscape as the year progressed.

Notwithstanding the inevitable time commitments imposed by the IPO process and the deteriorating global economic scenario, LifeSafe made excellent progress in achieving its operational and strategic goals in H1 2022.  The latter was achieved by creating and meeting increased demand for the Group's consumer products via its proven digital international multi-channel sales strategy.  Following the successful UK launch on Amazon in August 2021 of the Group's best-selling StaySafe 5-in-1 fire extinguisher, followed by selected European countries in October 2021, the Group launched on Amazon in the US in February 2022 and, through its LifeSafe website, began to sell products into Canada in April 2022.

In addition to this, the StaySafe 5-in-1 and the PanSafe pan fire extinguisher were introduced into 740 Screwfix trade stores nationwide in Spring 2022 with the StaySafe range of smoke, heat and carbon monoxide detectors also now available on www.screwfix.com.  LifeSafe also successfully trialled the StaySafe 5-in-1 on the TJC shopping channel in the UK after the period end in August 2022 demonstrating the potential that this sales channel could bring to the Group's consumer strategy.  Further European TV shopping channel activity is planned this year.

The speed of progress has meant that the Group's revenues are slightly ahead of, and margins in line with, the Board's expectations.

Although LifeSafe has adopted a consumer and digital first approach to driving growth in the business, the Group remains very mindful of the game-changing potential its eco-friendly and novel fluids have in the wider fire-related market.  Consequently, it is particularly pleasing to see increasing enquiries from major players with interests in the fire safety sector intent on understanding more about the potential applications of the Group's current fluid as well as those in development.  Although LifeSafe believes every home should have a StaySafe 5-in-1, in itself a huge addressable market, it is already clear from initial enquiries that the Group's current and planned fluids have even bigger potential across a wide range of industries and their markets.

Results

LifeSafe's revenue for H1 2022 increased significantly to £1.3 million, compared with £41,000 in the same period last year as the business successfully began the commercialisation of a number of years' investment in developing its innovative, market disrupting eco-friendly fire extinguishing fluid.

Gross profit for H1 2022 increased to £709,000 (H1 2021: gross loss of £61,000) at a gross margin of 56% in line with the Board's expectations.

The Group recorded an underlying loss from operations² of £729,000 (H1 2021: £661,000) before non-underlying items totalling £895,000 comprising IPO costs and share-based payment charges.

Finance expenses of £573,000 were recorded in the Period (H1 2021: £18,000), of which £569,000 related to interest on convertible loans which subsequently converted to equity on Admission to AIM after the Period end.

The underlying loss before tax was £1,302,000 (H1 2021: £665,000).  The basic and diluted earnings per share were (£0.14) (H1 2021: (£0.04)).

Cash and cash equivalents as at 30 June 2022 were £22,000 (H1 2021: £40,000).  Included within Trade and other receivables in the statement of financial position as at 30 June 2022 is £3.0 million of committed subscriptions to the Company's placing of shares and Admission to AIM on 6 July 2022.  The committed subscriptions were in the form of placing letters held by the Company's Broker and Nominated Adviser with funds received by the Company on Admission to AIM.

Trade and other payables as at 30 June 2022 were £1,583,000 (H1 2021: £279,000).  Included within this balance were IPO costs of £984,000 which were paid after the Period end.

On Admission to AIM, the Company issued 4,000,000 new Ordinary Shares and 2,716,550 Ordinary Shares to the providers of convertible loans, taking the number of Ordinary Shares in issue to 22,108,050.  The total gross proceeds amounted to £3.0 million.  The costs of issue, which were committed as at 30 June 2022, amounted to £1,092,000 of which £725,000 was recognised as a non-underlying expense in the consolidated income statement in H1 2022 and £367,000 was recognised as a deduction from committed share issue proceeds of £3.0 million in equity in the consolidated statement of financial position as at 30 June 2022.

² Underlying loss from operations represents loss before tax, finance expense and non-underlying items (which comprise IPO costs and share-based payment charges).

Research and development

As set out in its Admission Document published on 1 July 2022, the Group has a strong pipeline of innovative new products and fluid derivatives which are expected to be launched in H1 2023.  Given the strong interest from major industry players in the potential applications of the fluids within LifeSafe's development pipeline, the Group has taken steps to accelerate the programme of innovation.  Accordingly, capitalised expenditure on technology development during the six-month period increased to £184,000 (H1 2021: £10,000).

Technology and intellectual property

The FER1000 extinguishing fluid is at the centre of the Group's product range and has been developed by LifeSafe to extinguish five different types of fire: electrical, paper, textiles, cooking oil, and petrol and diesel.

Following a successful testing programme, an initial patent application for this fluid was submitted in April 2017, with the patent being granted with effect from 17 August 2022.  The additional protection afforded by the patent grant lasts for 20 years from the date of the initial patent application in 2017.

The Group recognises the importance of appropriately protecting its innovative intellectual property and has taken out intellectual property defence and pursuit insurance to protect its investment.

New lithium-ion battery fire extinguishing fluid

Subsequent to the Period end, LifeSafe has also filed three further patent applications for derivations and new uses of the Group's core fluid, including fluid developed to extinguish lithium-ion battery fires, to further enhance and protect its novel fire extinguishing fluid capabilities.

The effectiveness of the new lithium-ion battery fire extinguishing fluid has been demonstrated through a series of live fire tests to a number of industry leaders to help and support the commercialisation of the fluid into the industrial market sector.

Outlook

Following the IPO, LifeSafe's revenues continue to grow ahead of the Board's expectations, with margins and costs continuing in line.  LifeSafe is looking forward to 2023 where the Board is confident of further consolidating the Group's leading direct to consumer strategy, to grow sales in the UK, North America and Europe and to accessing new markets.

The continued development and optimisation of the Group's eco-friendly fire extinguishing fluids is beginning to resonate in the wider business-to-business fire safety market, where the Board is very excited about the potential game-changing opportunities in the industrial supply of LifeSafe's fluids.

Not least of course, is the opportunity the Group has in working with industry leaders and innovators to address the very real and present threat of dealing with lithium-ion battery fires, a market we believe to have significant potential.  As such, the Group is well placed to drive further growth and is confident of delivering shareholder value.

Dominic Berger

Executive Chairman

27 September 2022

For access to the Unaudited consolidated statements of financial position click here

Further copies of this interim announcement are available on the LifeSafe Holdings plc investor relations website, www.lifesafeholdingsplc.com.

Gibraltar Wednesday 22^nd June 2022, as part of the IPO Lifesafe Holdings Plc adjusted its stock through a bonus issue whereby for if you owned one share you received a further 49 free shares. In other words, a 50 for 1 bonus. Within Premium Nominees we have already carried out a 100 for 1 split. To align members with the IPO we have decided to mirror members holdings with the Company to avoid any confusion. Therefore, this week your shares in Premium will be halved but any odd shares will be rounded up – our Gift to you …….

We have also zeroed the value for the time being until we know what the market will set the share price to be at IPO. This is normal practice for IPOs and the price will be set by the market. Currently as I am sure you will all appreciate the markets are heavily affected by the war in Ukraine and inflation. Nonetheless we are optimistic for a positive outcome. Furthermore we must all be mindful that Lifesafe is still at an early stage of its development and there is still much greater growth to come.

If there are any questions, please contact support.

The Headlines are:

• Sales of the Lifesafe 5 in 1 continue to grow on Amazon with a return on advertising spend of 6 times every £1 spent.
• This trend will see Lifesafe surpass its September record numbers in October.

Wednesday 22 September, Gibraltar, today we were informed that Lifesafe achieved another successive week of record sales online through Lifesafe website and Amazon and Amazon Prime.

The Headlines are:

• Record weekly sales of £26,900
• Sales +£20k/ week on Amazon UK
• Amazon Return On Advertising Spend for every £1.00 we invested in marketing we got £9.35 back

Marine Bourbon, Head Of Marketing, Skinny Drinks Group joins Proactive to talk about her experience in the retail, corporate sector and how she'll be using skills obtained as Head of Brand at Tesco and Muller in her new role. 

Bourbon explains how the firm has teamed up with the Emoji brand to launch a kids’ drink called Emoji DRNK

https://youtu.be/iob9uX78FQc

TECS Group, the specialist provider of critical asset maintenance and building compliance services, is pleased to announce two material new contract wins with Coventry University and Greater Manchester Police. Together they represent significant progress in sectors that are strategically important and where TECS has traditionally been strong and continues to build more business.

Both contracts were secured as part of a competitive tender process which represents a compelling validation of the systems and processes we have implemented over the last 12 months to enable success in these markets.

Coventry University

Sector: Higher Education

Division: Water Treatment

Coventry University is a forward-looking, modern university with a tradition as a provider of high-quality education and a focus on applied research.

TECS Group has been awarded a new two year contract (with two optional 12 month extensions) to supply a PPM and Reactive Service covering water treatment and water hygiene for buildings owned by Coventry University. The services under the contract will cover planned servicing/ inspections, day works and reactive maintenance in-line with HSG274.

The contract was tendered as two separate lots comprising the Main Campus and Technology Park (Lot 1) and the Student Accommodation Buildings (Lot 2). TECS Group were successful in securing both lots and the contract is currently being mobilised by the delivery team for an immediate start. The contract will be delivered from our Lichfield office.

Greater Manchester Police (‘GMP’)

Sector: Public Sector Policing

Division: Water Hygiene

Greater Manchester Police is the territorial police force responsible for law enforcement within the metropolitan county of Greater Manchester in North West England. GMP's policing area covers an area of nearly 500 square miles, including open moorland and semi-rural areas, as well as towns and cities.

Following a two-stage competitive tender process, TECS Group has been awarded a new three year contract (with two optional 12 month extensions) to carry out full inspections and treatment control of all water systems across GMP's Estate.

In the award letter, GMP’s procurement manager noted very strong competition and the reasons for TECS being awarded the contract were as follows:

• Competitive prices without compromising on the quality of the services provided;

• An understanding of the needs of GMP and a proposal that meets those needs; and

• A strong organisational reputation and proven record in delivery of similar services.

The contract is currently being mobilised by the delivery team and it is expected to go-live in mid-late September 2021. The contract will be delivered from our Bury office.