VELA TECHNOLOGIES PLC

Regulatory Filings • Sep 17, 2021

National Storage Mechanism | Additional information

RNS Number : 0771M

Vela Technologies PLC

17 September 2021

Reach- non-regulatory announcement                                                                17 September 2021

Vela Technologies plc

("Vela" or "the Company")

Update re. Aeristech

The Board of Vela notes the announcement by Sprintex (ASX: SIX) of its collaboration agreement with Aeristech Limited ("Aeristech") which will facilitate Sprintex's penetration into the high-growth and lucrative hydrogen energy and clean air markets. Sprintex is establishing a new production and testing facility in China which would produce several electrical compressor (eCompressor) platforms. Aeristech's proprietary designs will form a key component of these platforms for use in hydrogen fuel cell vehicles.

On 25 February 2021, Vela announced that it had invested £350,000 into Aeristech as part of Aeristech's £5.1 million pre-IPO funding round.

Aeristech is a producer and supplier of efficient, power-dense compressors, which are used to maximise the power output and efficiency of hydrogen fuel cells. Aeristech's unique turn-key motor and controller technology provides many benefits for hydrogen cells, including reducing high power switching events, enabling high-speed and high-power motors, reducing heat loss and reducing costs by removing the need for high-cost specialist components.

For further information, please contact:

Vela Technologies plc Brent Fitzpatrick, Non-Executive Chairman James Normand, Executive Director	Tel: +44 (0) 7421 728875
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: +44 (0) 20 3328 5656
Nick Athanas / Piers Shimwell
Peterhouse Capital Limited (Joint Broker) Lucy Williams / Duncan Vasey / Eran Zucker	Tel: +44 (0) 20 7469 0930

About Vela Technologies plc   

Vela Technologies plc (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. Vela's investee companies have either developed ways of utilising technology or are developing technology with a view to disrupting the businesses or sector in which they operate. Vela Technologies will also invest in already-listed companies where valuations offer additional opportunities.

About Reach announcements

This is a Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRAKZGMLRVNGMZM