AquaInSilico wins grant to commercialise software
RNS Reach
AIM: FIPP
14 July 2020
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - new portfolio company AquaInSilico wins grant to commercialise wastewater treatment software
Frontier IP, a specialist in commercialising intellectual property, today announces portfolio company AquaInSilico Lda (the "Company") has won a €60,000 EIT RawMaterials grant to further develop its software tools to optimise wastewater treatment.
The grant, from the European Union's European Institute of Innovation and Technology, will allow AquaInSilico to build on its collaboration with a leading European environmental, water and waste management group to commercialise its software tools to remove phosphorus from wastewater in a more environmentally friendly and effective way than existing methods. The recovered phosphorus can then be sold for use in fertilisers.
Several European countries, including Germany, Switzerland, Sweden and Austria, are introducing stricter regulations that require large treatment plants to recover at least 50 per cent of the phosphorus for use as a biofertilizer.
This is causing utilities problems because current methods use expensive and environmentally unfriendly chemicals to bind the phosphorus or biological processes that, although cheaper and more sustainable, do not work properly more than 45 per cent of the time.
AquaInSilico's software uses a mathematically-modelled biological approach to improve phosphorus removal, based on understanding and controlling the operating variables that result from biological and chemical processes. As a result, the process reduces the use of chemicals and energy, and the risk of environmental harm from phosphorus leaching into waterways from wastewater sludge.
The Company is a spin out from Portugal's NOVA University, NOVA School of Science and Technology ("FCT NOVA") and is the fourth spin out resulting from Frontier IP's growing presence in the country.
As the sophisticated algorithms the Company is developing are based on deep knowledge of biological and chemical processes and are able to understand and predict how they unfold in different conditions, they can detect possible problems, often before they can be diagnosed by humans.
As a result, the technology has broad applicability, with the potential to allow companies, such as oil groups, brewers, pulp, paper, steel makers, food processing and waste recovery businesses and municipal wastewater treatment plants, to tune and adapt their treatment systems more effectively. It is expected to save them up to 25 per cent of their operating costs.
It also supports the improved recovery of other valuable and recyclable products in addition to phosphorus, such as ammonia, biogas, and fine chemicals that can be used in biofertilisers, bioplastics and biofuels. The Company believes this could result in new sustainable technologies in future.
AquaInSilico was established to develop and commercialise the research of Dr Jorge Santos, Dr Mariana Matos and Professor Maria Ascensão Reis of FCT NOVA. This team had developed several research projects in environmental and industrial bioengineering in collaboration with several worldwide industry players.
AquaInSilico co-founder, Dr. Jorge Santos, said : " We are very happy for this EIT RawMaterials Booster grant, which offers us the opportunity to speed up our technology readiness level and reach the market with a solution that recovers critical raw materials from waste to new bio-based products."
Frontier IP Chief Executive Officer, Neil Crabb, said: "AquaInSilico has been making good progress in collaboration with its industry partners, progress reflected and validated by the award of this grant to commercialise the technology."
This activity has received funding from the European Institute of Innovation and Technology (EIT). This body of the European Union receives support from the European Union's Horizon 2020 research and innovation programme.
ENQUIRIES
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Frontier IP Group Plc |
T: 020 7332 2338 |
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Neil Crabb, Chief Executive
Andrew Johnson, Communications & Investor Relations
Company website: www.frontierip.co.uk |
neil@frontierip.co.uk
M: 07464 546 025 |
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Allenby Capital Limited (Nominated Adviser) |
T: 0203 328 5656 |
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Nick Athanas / Nicholas Chambers
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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.
ABOUT EIT RAWMATERIALS
EIT RawMaterials, initiated and funded by the EIT (European Institute of Innovation and Technology), a body of the European Union, is the largest consortium in the raw materials sector worldwide. Its vision is to develop raw materials into a major strength for Europe. Its mission is to enable sustainable competitiveness of the European minerals, metals and materials sector along the value chain by driving innovation, education and entrepreneurship.
EIT RawMaterials unites more than 120 core and associate partners and 180+ project partners from leading industry, universities and research institutions from more than 20 EU countries. Partners of EIT RawMaterials are active across the entire raw materials value chain; from exploration, mining and mineral processing to substitution, recycling and circular economy. They collaborate on finding new, innovative solutions to secure the supplies and improve the raw materials sector in Europe.
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