Industrial partnership and distribution agreement

LifeSafe Holdings PLC

16 January 2024

 

16 January 2024                                

RNS Reach                                                                         

LifeSafe Holdings plc

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

Industrial partnership and distribution agreement with Lingjack

Partnership marks entry into Southeast Asia, a significant territory

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire extinguishing fluids and fire safety products, announces the signing of a distribution agreement for the supply of its Thermal Runaway Fluid to Lingjack Fire and Life Saving PTY ("Lingjack"), a substantial Asian fire safety business located in Singapore.

The distribution agreement represents a major growth opportunity for the Company, providing a new and incremental revenue opportunity, as well as expansion into a significant territory. The initial stages of the exclusive agreement will see LifeSafe's Thermal Runaway Fluid solution added to Lingjack's range of fire extinguishers and fixed suppression systems across Singapore, China, Malaysia, Thailand and Indonesia. The Board expects there to be opportunities to broaden the agreement with Lingjack to include further LifeSafe products.

Lithium battery fires exhibit unique characteristics and therefore require innovative solutions, particularly given the increasing number of devices and industries around the world utilising the power and efficiency of lithium batteries. The market opportunity in Southeast Asia for the LifeSafe's innovative Thermal Runaway Fluid solution is both significant and growing.

The lithium Thermal Runaway Fluid 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. 

Dominic Berger, Chairman of LifeSafe, commented: "We are pleased to announce this new distribution partnership with such a prestigious and trusted fire safety business such as Lingjack. The signing of the partnership extends the Company's reach into the markets of Singapore, China, Malaysia, Thailand and Indonesia and we look forward to working together for many years to come."

Kenneth Lim, Chief Executive Officer of Lingjack Fire and Life Saving PTY, commented: "We are delighted to have signed this distribution agreement with LifeSafe.  Obtaining access to the innovative and effective fluids and technical support from the LifeSafe team has provided us with the opportunity to launch into the new and growing lithium battery fire extinguisher market.  Having placed our first purchase order for the Thermal Runway Fluid, we are excited to grow our volumes into the extinguisher and fixed suppression systems market in multiple regions across Southeast Asia."

For further enquiries:

LifeSafe Holdings plc	Via FTI Consulting
Dominic Berger, Chairman	[e-mail]
Neil Smith, Chief Executive Officer
Mike Stilwell, Chief Financial Officer
WH Ireland Limited (Nominated Adviser & Broker)	Tel: [phone]
Chris Fielding
Darshan Patel
Isaac Hooper
FTI Consulting (Financial Communications)	Tel: [phone]
Tom Hufton	[e-mail]
Harriet Jackson
Liam Gerrard

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.

Notes to Editors

LifeSafe is a fire safety technology business that develops eco-friendly, novel and innovative fire extinguishing fluids and life-saving fire safety products.  LifeSafe has developed a market disrupting range of eco-friendly fire safety protection products; a new patent-pending Thermal Runaway Fluid to combat lithium battery fires by permanently extinguishing and preventing re-ignition, and the StaySafe All-in-1, a handheld eco-friendly and fully recyclable extinguisher which is verified to extinguish ten different types of fire and is the number one selling fire extinguisher on Amazon UK.  LifeSafe is successfully creating new markets for the Group in fire safety through its innovative technologies, products, digital marketing and multi-channel sales; and is continuing to develop new fluid derivations for applications in various industrial market sectors.

LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.

For further information please visit: https://www.lifesafeholdingsplc.com.

LinkedIn: https://www.linkedin.com/company/lifesafe-technologies

Twitter: https://twitter.com/LifesafeT

About Lingjack Fire & Life Saving

LINGJACK Engineering Works Pte Ltd was established in 1971 and has since evolved from a conventional engineering firm into a specialized manufacturer of firefighting equipment. With over four decades of experience in the field of fire and safety industry, LINGJACK strives to provide first class products and services to the customer.

LINGJACK delivers value to customers through distinctive customer service and zero defects products. The Company adapts international standard on stringent control of work and systems, certified by LPCB(UK). Furthermore its entire range of products are certified by Setsco, PSB, UL, DNV, ABS, MED, PED and LPCB.

For further information please visit: https://www.lingjack.com/

 

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