Key developments at portfolio company Alusid
AIM: FIPP
5th February 2015
Frontier IP Group Plc
("Frontier IP")
Key developments at portfolio company Alusid
Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce a number of new developments at its portfolio company Alusid Ltd ("Alusid"). In preparation for the next phase of Alusid's commercialisation, Alusid has completed a corporate restructuring, secured the IP needed, signed its first industrial partner and appointed a Chairman. Frontier IP's beneficial ownership of Alusid has increased to 46% of the issued share capital of Alusid following the company's corporate restructuring, up from 30%.
Alusid, a spin-out from the Silicate Research Unit of University of Central Lancashire ("UCLan"), was formed to commercialise technology developed by UCLan and a licence agreement has now been signed with UCLan enabling Alusid to exploit the technology commercially. This innovative technology enables industrial waste materials to be turned into environmentally sustainable materials suitable for use in the global construction industry, a significant addressable market. In line with its manufacturing plan, Alusid has entered into an agreement with Recycling Lives Limited ("Recycling Lives"), for the supply of recyclable raw materials, plant and labour. Recycling Lives, based in Lancashire, has some forty years' experience in recycling and has twice received the Queen's Award for Enterprise in Sustainable Development.
In addition, Alusid's management team has been strengthened with the appointment of Anthony Attard OBE as Chairman. Tony has considerable experience of both the construction and interiors industries and is currently Chairman of an established building construction business.
In order to accelerate its commercialisation Alusid intends, with the support of Frontier IP, to seek its first round of funding over the coming months.
Paul Finnerty, Recycling Lives Limited said:
"Recycling Lives is pleased to be working with Alusid and we look forward to supporting the growth of its business. We expect Alusid to become a key outlet for our waste glass and ceramic material and, as we are a significant recycler of screens, we look forward in particular to Alusid applying its novel process to our Cathode Ray Tube (CRT) screen waste. The product is a welcome addition to the industry where there are currently few viable and cost-effective outlets for leaded CRT glass. In achieving end of waste status, Alusid is well placed to succeed in this competitive business."
John Lonsdale, University of Central Lancashire said:
"UCLan is delighted to be contributing expertise to Alusid, whose products combine aesthetically pleasing product design with excellent green credentials. It is a great example of how, with the right team, research can be taken to market to provide exciting new products. "
Neil Crabb, Chief Executive of Frontier IP said:
"Alusid has a very exciting "green" technology with strong commercial potential. We look forward to working with the Alusid team as it embarks on this crucial phase of its development."
Enquiries
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Frontier IP Group Plc |
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T: 0131 240 1251 |
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Neil Crabb, Chief Executive |
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Company website: www.frontierip.co.uk
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Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker) |
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T: 020 7894 7000 |
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Mark Percy / Catherine Leftley, Corporate Finance |
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David Banks, Corporate Broking |
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Peterhouse Corporate Finance Limited (Joint Broker) |
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T: 020 7469 0935 |
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Lucy Williams |
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KTZ Communications |
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T: 020 3178 6378 |
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Katie Tzouliadis / Deborah Walter |
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Notes to Editor:
Frontier IP Group plc
Frontier IP specialises in assisting universities, research institutions and companies in the commercialisation and exploitation of their Intellectual Property.
This information is provided by RNS
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