TIDMFIPP
RNS Number : 7350S
Frontier IP Group plc
13 July 2020
RNS
AIM: FIPP
13 July 2020
Frontier IP Group plc
("Frontier IP" or the "Group")
Portfolio news - Pulsiv demonstrates strong commercial and
technical progress
Frontier IP, a specialist in commercialising intellectual
property, today announces that portfolio company Pulsiv Solar
Limited ("Pulsiv" or the "Company") continues to make strong
commercial and technical progress with its patented technology to
improve the energy efficiency of the power converters used in a
host of everyday products.
The Company, in which Frontier IP holds an 18.9 per cent equity
stake, also announces that it is presently in discussions with
investors to raise further funding which, if completed, would be at
a significant premium to the current book value at which it is held
by the Group.
It is expected that any increase in the Company's book value
will be reflected in the Group's results to 30 June 2020. This
potential fundraising has been launched following successful
demonstrations of the Company's technology for use in a wide range
of industrial applications.
Pulsiv has:
-- Started design work funded by a major multinational to
incorporate the technology into a new product line
-- Engaged in discussions with a number of other large
multinational companies about a wide range of further industrial
applications
-- Filed a further two priority patent applications on top of
the one filed late last year. The Company now has eight separate
patent families, five of which have progressed to grant, across all
major territories worldwide, reflecting the significant amount of
development undertaken and the strength of the intellectual
property position underpinning it.
The step change in industrial engagement follows the Company, a
spin out from the University of Plymouth, successfully developing a
series of demonstration products which show the technology not only
improves energy efficiency but has the potential to reduce
costs.
Pulsiv's technology has very broad applicability because it
improves the efficiency with which alternating current, AC, is
converted into direct current, DC, and vice versa. Power conversion
is a ubiquitous requirement in electrical products. While
electricity supply is AC, the electronics in most devices and
household goods operate using DC at a number of different voltages;
conversely, in power generation, photovoltaic solar cells generate
DC electricity, but this needs to be converted into AC to be
exported onto the grid or used in the home.
The demonstration products have included an LED driver to
demonstrate mains AC being converted to device DC, a power tool
battery charger, and solar microinverter for use with photovoltaic
solar cells.
Robert Bosch Limited, part of Bosch, has been working with
Pulsiv to optimise the design of the Company's energy-efficient
solar microinverter prototype. When the prototype moves into
full-scale commercial production, it will allow Pulsiv to market
microinverters as "Engineered by Bosch".
Pulsiv Solar technical director Dr Zaki Ahmed said: "The strong
progress we have been making across a very wide range of
applications shows the potential for our technology. I expect us to
continue to make good technical progress. The prospects are
bright."
Frontier IP chief executive officer Neil Crabb said: "Industry
partnerships are vital for validating the technology developed by
our portfolio companies and for providing the understanding of the
potential markets in which they could operate. The range of
businesses Pulsiv is now engaging with gives us high hopes for the
future."
ENQUIRIES
Frontier IP Group Plc T: 020 7332 2338
Neil Crabb, Chief Executive neil@frontierip.co.uk
Andrew Johnson, Communications & Investor M: 07464 546 025
Relations
Company website: www.frontierip.co.uk
Allenby Capital Limited (Nominated Adviser) T: 0203 328 5656
Nick Athanas / Nicholas Chambers
N+1 Singer (Broker)
Harry Gooden / George Tzimas
T: 0207 496 3000
ABout frontier IP
Frontier IP unites science and commerce by identifying strong
intellectual property and accelerating its development through a
range of commercialisation services. A critical part of the Group's
work is involving relevant industry partners at an early stage of
development to ensure technology meets real world demands and
needs.
The Group looks to build and grow a portfolio of equity stakes
and licence income by taking an active involvement in spin-out
companies, including support for fund raising and collaboration
with relevant industry partners at an early stage of
development.
Frontier IP is the commercialisation partner for the University
of Plymouth.
ABOUT THE UNIVERSITY OF PLYMOUTH
The University of Plymouth is renowned for high quality,
internationally-leading education, research and innovation.
With a mission to Advance Knowledge and Transform Lives,
Plymouth is a *top 50 research university with clusters of world
class research across a wide range of disciplines including marine
science and engineering, medicine, robotics and psychology. A
three-time winner of the Queen's Anniversary Prize for Higher and
Further Education, the University of Plymouth continues to grow in
stature and reputation.
It has a strong track record for teaching and learning
excellence and has one of the highest numbers of National Teaching
Fellows of any UK university. With over 19,000 students, and a
further 9,500 studying for a Plymouth degree at partner
institutions in the UK and around the world, and over 130,000
alumni pursuing their chosen careers globally, it has a growing
global presence.
http://www.plymouth.ac.uk
* Research Fortnight Research Power League Table 2014.
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END
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