LifeSafe Holdings PLC Launch of new Lithium Thermal Runaway Fluid (1196J)

TIDMLIFS

RNS Number : 1196J

LifeSafe Holdings PLC

09 December 2022

 
 For immediate release   9 December 2022 
 

LifeSafe Holdings plc

('LifeSafe', the 'Group' or the 'Company')

Submission of UK and international patent applications for new Lithium Thermal Runaway Fluid and launch of Industrial website

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire extinguishing fluids and fire safety products, is pleased to announce the submission of UK and international patent applications for its new fire extinguishing fluid, specifically designed to tackle Lithium Thermal Runaway fires, and the launch of LifeSafe's Industrial website.

New LifeSafe Lithium Thermal Runaway Fluid ("TRF")

The Board is delighted to announce UK and international patent applications have been submitted for the Company's new fluid, the LifeSafe Lithium Thermal Runaway Fluid . This is a variant of the Company's core eco-friendly patented fluid, and represents a new and incremental revenue opportunity for the Group.

Lithium battery fires exhibit unique characteristics and therefore, in the Board's opinion, require a unique solution, particularly given the increasing numbers of devices and industries around the world utilising the power and efficiency of lithium batteries. When a lithium cell begins to overheat it can become unstable due to the extreme heat generated within the cell. As this heat cannot dissipate it builds up within the cell, eventually being released with force, which can cause an explosion followed by fire. The Company's new Lithium TRF is designed to permanently extinguish and prevent the re-ignition of lithium fires and has been engineered to remove the heat from the lithium fire, therefore making the battery safer post trauma.

As with all the Company's existing extinguishing fluids, LifeSafe's new Lithium TRF is an eco-friendly solution and does not leave a toxic residue. It is both non-toxic and non-hazardous.

New LifeSafe Industrial website

In conjunction with the launch of LifeSafe's Lithium TRF, the Company has developed a new website to focus on the applications and uses of its new and future fluid developments for customers in the Industrial sector, as the Board believes this presents a significant opportunity for the Group. The new website, which can be accessed at http://www.lifesafeindustrial.com , is complementary to LifeSafe's existing consumer website which hosts content relevant to its fast-growing global consumer market.

Dominic Berger, Chairman of LifeSafe, said: "The launch of our Lithium TRF fluid is a very significant moment for LifeSafe. We are living in an increasingly electrified world, particularly in the automotive sector, which, while essential for tackling climate change, does bring risks that need to be addressed and haven't been properly done so to date.

"Our Lithium TRF fluid is an important step forward in tackling the risk posed by lithium fires and protecting people across the globe. This new fluid opens up a significant new market for the Group and as such we have launched a new website that focuses on the Industrial sector to leverage this opportunity.

"I am very excited by what lies ahead for LifeSafe. These new market opportunities, combined with the very strong trading we announced recently with our consumer-focused products puts us in a great position to deliver value for our shareholders."

- Ends -

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

The person responsible for arranging the release of this announcement on behalf of the Company is Mike Stilwell, Chief Financial Officer of the Company.

 
 LifeSafe Holdings plc                                Via Buchanan 
 Dominic Berger, Chairman              www.lifesafeholdingsplc.com 
 Neil Smith, CEO 
 Mike Stilwell, CFO 
 
 WH Ireland Limited (Nominated           Tel: [phone] 
  Adviser & Broker) 
 Chris Fielding 
 Darshan Patel 
 
 Buchanan (Financial Communications)     Tel: [phone] 
 Henry Harrison-Topham                    [e-mail] 
 Jack Devoy 
 George Cleary 
 

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 and multi-channel sales.

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 for the industrial market and in December 2022, the Company launched its Lithium Thermal Runaway Fluid to combat thermal runaway in lithium battery fires by permanently extinguishing and preventing the re-ignition of lithium fires .

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

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December 09, 2022 02:00 ET (07:00 GMT)