Tesla trio take the helm at DG Innovate, igniting surge in share value

  • Tesla mavericks take over DG Innovate, sparking a 160% surge in shares.
  • Peter Bardenfleth-Hansen assumes command as CEO, flanked by Christian Eidem and Jochen Rudat as Executive Directors.
  • Leadership shift follows £2.4m fundraise to support the new executive team’s vision for the electric vehicle and mobility sector.

Tesla-infused leadership sparks a 160% surge in DG Innovate shares, as Peter Bardenfleth-Hansen takes the helm with visionary team and £2.4m boost

DG Innovate shares surged on Monday after former Tesla executives stepped in to steer the struggling battery developer. Under the deal, Peter Bardenfleth-Hansen takes the helm as CEO, with Christian Eidem securing a 29.3% stake and a role as an Executive Director. Jochen Rudat also joins as an Executive Director. The former CEO, Peter Tierney, has transitioned to a Non-Executive Director.

Chairman of DG Innovate, Nick Tulloch, said: 

“The new executive management team, with their world class track record in the electric vehicle and mobility sector, recognise the significant commercial potential in DGI’s technology and the wider opportunities to use DGI as a platform to build a larger company focused on the sector. I look forward to an extremely bright future for DGI.”

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New CEO, Bardenfleth-Hansen, added: 

“The technology the DGI team has developed in exceptional. In the last few years, [we] have looked at hundreds of different technologies to invest in and commit to across the global. DGI’s technology was the standout.”

Both Bardenfleth-Hansen and Rudat bring a wealth of experience from their years at Tesla, where they held senior roles in the company’s European operations. Eidem, a former venture capitalist, adds a unique perspective, having served as an advisor to both Tesla and Elon Musk, the billionaire at the helm of the electric vehicle giant.

DG Innovate secured £2.4 million through the issuance of convertible notes, earmarked to fuel the ambitious plans laid out by the new executive team for the business.

DG Innovate’s shares skyrocketed by an impressive 160% to 0.11p following the appointment of former Tesla executives, a promising welcome for the new leaders. Despite a 2022 pre-tax loss of £7.9 million on a £4,280 turnover, DGI’s focus on innovative tech, backed by 18 patents, sets the stage for growth in the novel electric motor technologies and energy storage solutions sectors.

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