DG Innovate PLC - Bingley-England based storage battery manufacturer - Gets £600,000 in funding via subsidiary Deregallera Ltd from UK government’s Advanced Propulsion Centre. Says the funding will cover half of the costs of DG Innovate’s SUPAR project, designed to optimise electric vehicle drives. This enables the most appropriate cost of production using ‘lean manufacturing techniques, enabling substantial upscaling to commercial scale production’, the company notes.

Says the project will build a pilot production facility.

Chief Executive Officer Peter Tierney says: ‘The SUPAR pilot production project is a strategically significant development for DG Innovate as we move from being a high technology motor designer to a full-scale provider in the supply chain for electric vehicle motors.’

Current stock price: 0.22 pence, up 1.2%

12-month change: down 37%

Copyright 2022 Alliance News Limited. All Rights Reserved.