TIDMNSCI
NetScientific PLC
04 November 2021
NetScientific plc
("NetScientific", the "Group" or the "Company")
Sofant Signs EUR7.3m European Space Agency Contract
London, UK - 4 November 2021 - NetScientific plc (AIM: NSCI),
the international life sciences and sustainability technology
investment and commercialisation Group, announces that its
portfolio company, Sofant Technologies ("Sofant"), the leading 5G
and Satcom antenna developer based in Edinburgh, has signed a
EUR7.3M contract with the UK Space Agency ("UKSA") and the European
Space Agency ("ESA") to support the commercialisation of its
low-cost low-power satellite communications platform, of which 50%
can be claimed as non-dilutive grant funding, with the balance
coming from Sofant.
The funding from the ESA - secured under an Advanced Research in
Telecommunications Systems (ARTES) contract - will support Sofant
Technologies to complete the commercialisation of a satellite
communication terminal, allowing users to connect to the cloud via
a new generation of low-latency, super-fast satellite networks.
Applying patented and state of the art RF MEMS (radio frequency
microelectromechanical systems), Sofant Technologies' platform
solves the most pressing power consumption and heat problems faced
by the next generation of 5G and satellite communications
systems.
Eliminating the need for complex and expensive cooling systems,
Sofant's patented RF MEMS (radio frequency microelectromechanical
systems) platform will enable Satellite Communication (SatCom) and
5G wireless networks to operate with 70% less power.
By connecting devices wirelessly via a satellite network, Sofant
Technologies' terminal will reduce the needs for terrestrial
infrastructure and make it much easier for people in rural and
remote locations to get online.
With COP26 underway, Sofant's technology is moving towards
further environmental savings, with the potential for the
technology to be powered by renewable energy. Those relying on
solar or wind technology in rural locations will have the ability
to connect via their own power sources, further reducing individual
carbon footprints in the pursuit of neutral carbon emissions by
2050.
This contract follows the recent fundraise in the company,
advised by NetScientific's corporate finance and venture capital
division EMV Capital Ltd, deploying its capital light investment
approach and leveraging non-dilutive funding to raise a total of
GBP843k - including a GBP300k direct investment from
NetScientific.
NetScientific has advised on GBP2.3M of previous investments in
Sofant, representing 25.7% of its paid up capital, and is
represented on its Board by Dr. Iliev.
Commenting on the contract, David Wither, CEO of Sofant
Technologies, said: "We are honoured that the UKSA and the ESA have
agreed to support the commercialisation of Sofant's technology.
They have a clear understanding of the technical challenges faced
by the satellite communications industry as it seeks to exploit the
promise of a new generation of satellite networks. They also share
our belief that a scalable technology platform which solves power
consumption and heat problems in phased array antennas is critical
for the future wireless communications. We look forward to working
with the team at the ESA throughout this project.
"This announcement comes as Sofant Technologies gears up for its
first Series A funding round, to scale its base in Edinburgh and
triple its headcount from 16 to 48 over the contract period. This
will create numerous highly-skilled jobs within Scotland's
engineering sector, from antenna and product design to component,
product and software engineering."
Dr. Ilian Iliev, CEO of NetScientific commented: "The UK Space
Agency and European Space Agency's support for Sofant further
demonstrates the strength of NetScientific's investment thesis -
combining our capital light investment approach with access to
non-dilutive public funding in high-impact sectors. The
non-dilutive funding will support Sofant in going through the next
major value inflection points, help attract major industry
partners, while limiting dilution to shareholders."
For more information, please contact:
NetScientific Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser
and Broker)
Chris Fielding / Darshan Patel +44 (0)20 7220 1666
Walbrook PR
Nick Rome/ Paul McManus/ 07748 325 236, 07980 541 893
Nicholas Johnson or 07884 664 686
About NetScientific
NetScientific plc (AIM: NSCI) is a holding company, that invests
in, develops, commercialises and realises shareholder value in life
sciences/healthcare, sustainability and technology companies, which
offer significant growth potential predominately in the UK and USA,
as well as globally.
With the acquisition of EMV Capital in August 2020, the Group
doubled its portfolio from 8 to 17 companies, either through direct
subsidiary, balance sheet investment or capital under advisory,
varying from start-up private companies to publicly listed
equities.
NetScientific delivers shareholder returns through a proactive
and hands-on management approach to their portfolio companies;
identifying, investing in, and helping to build game-changing
companies. The Group targets value inflection points and the
release of value through partial or full exits from trade sales,
public listings, or equity sales. The Company has a strong
transatlantic and growing international presence, providing
attractive expansion prospects.
NSCI can deploy a capital-light investment structure; utilising
the power of the PLC Brand, and the NetScientific balance sheet to
anchor future investments and achieve a multiplier effect by
attracting 3rd party investment for the portfolio companies.
NetScientific is headquartered in London, United Kingdom, and
was admitted to trading on AIM, a market operated by the London
Stock Exchange, in 2013 (website: www.netscientific.net ).
About Sofant Technologies
www.sofant.com
Sofant Technologies is a cutting-edge radio technology company
based in Edinburgh, Scotland. The company is applying the unique
properties of its patented RF MEMS technology to develop an
extremely low power, low-cost platform which solves the most
pressing power consumption and heat problems in satellite
communications and 5G antenna systems. Sofant's ability to use the
fabless semiconductor business model and established volume
production methods places the company in a unique position to offer
its customers game-changing performance with guaranteed scalability
and low cost.
Sofant aims to revolutionise satellite communications and to
make high band 5G a reality.
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