Sheffield linear motor manufacturer Libertine in Tinsley targets £10m in stock market float
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Libertine makes linear electrical machines and software which can produce up to a third more power from renewable fuels than traditional motors.
Since it was founded in 2009 it has been granted more than 30 patents.
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Hide AdThe firm, based on Sheffield Road in Tinsley, has had funding from investors and the British Business Bank.
Now it intends to float on the Alternative Investment Market, part of the London Stock Exchange.
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If it is successful in raising £10m through a conditional placing, it wants to hire staff, ‘enhance technical readiness’ and expand its testing and prototype facilities.
Chief executive Sam Cockerill, said: “We are establishing a position as valued partner for manufacturers developing clean power technology for renewable fuels.
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“Truck manufacturers need fossil free powertrain solutions that are economically attractive to transport operators. Our Linear Generator technology platform offers the possibility of hybridising battery electric trucks so that they can use grid power whenever that’s practical, and renewable fuels such as green hydrogen at other times.
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“We believe that admission to AIM and the fundraise will give us both welcome additional visibility and the resources we need, using our capital-light business model, to fund technology and business development costs through to profitability.”
In 2017, Libertine had £500,000 investment from the Northern Powerhouse Investment Fund to develope its ‘Linear Power Systems’ technology and set up a new headquarters, in Tinsley, with product development and testing facilities. It is the first investment by NPIF - Enterprise Ventures Equity Finance in the Sheffield City Region.
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