DG Innovate PLC said on Thursday it has agreed to a ‘detailed plan’ to develop commercial offerings using its technology, alongside BRIST Axle Systems Srl and BASE Studio Arge ve Teknoloji Sanayi AS.

Shares in DG Innovate were up 15% at 76.50 pence each in London on Thursday morning.

The Bradford, England-based electric mobility and energy storage company said the offerings will comprise of its Remote Mount Motors, Integrated E Axle and Corner Drive Axle products.

BRIST Axle and BASE Studio are commercial vehicle and off-highway axle and transmission suppliers.

DG Innovate said the collaboration aims to establish a significant position in the growing commercial vehicle electric drivetrain market.

The news comes after DG Innovate signed a collaboration agreement with BRIST Axle and BASE Studio on electrification of axle ranges back in February.

Chief Executive Officer Peter Tierney said: ‘Since signing the collaboration framework agreement at the end of February we have been working hard with BRIST and BASE to formulate an appropriate product strategy to ensure we both maximise the market opportunity and can achieve commercial revenues as soon as possible.

‘Leveraging our partners’ already significant industry presence we are jointly developing new solutions that are targeted at readily accessible and existing market demand. We believe this will provide the most rapid route to market for our technology,’ he added.

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