1st Sep 2023 12:19
Libertine Holdings PLC - Sheffield, England-based technology platform solutions provider - Completes phase one of engineering development with Texas-based electrified solutions' provider Hyliion Holdings Corp to integrate its Hexagen linear generator technology platform into the first prototype Karno powertrain. Notes that the contract has entered into a six-month option period, during which time Hyliion has the option to negotiate intellectual property licensing rights with Libertine to exploit the Hexagen technology. Says a significant amount of its anticipated revenue for the current financial year was projected to be derived from further fees from Hyliion and notes that should these not happen as originally anticipated, its outcome for the financial year would be "materially below" current market expectations.
Current stock price: 2.50 pence, down 47% on Friday in London
12-month change: down 88%
By Sabrina Penty; Alliance News reporter
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