New spin-out company with Plymouth University
AIM: FIPP
Frontier IP Group Plc
("Frontier IP")
New spin-out company with Plymouth University
Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce the establishment of a new spin-out company, PulsiV Solar Limited ("PulsiV Solar"), under its long-term IP commercialisation relationship with Plymouth University. Frontier IP has received a 21% stake in PulsiV Solar and Neil Crabb, Frontier IP's Chief Executive, has taken a seat on its board.
PulsiV Solar has been formed to exploit a novel approach developed by Associate Professor in Information Technology in the Faculty of Science & Environment, Dr Mohammed Zaki Ahmed, to improve the power take-off from photovoltaic solar panels. Initial test data indicates the potential for a 20% plus gain in power output versus the standard commercial technology, known as Maximum Power Point Tracking or MPPT. Photovoltaic solar power now accounts for 2.6% of European energy demand according to the European Photovoltaic Industry Association in its latest Global Market Outlook, which forecasts continued heavy investment in installing new capacity.
A patent application has been filed and a larger scale multi-panel demonstrator is being installed at Tamar Science Park in Plymouth. Work is also underway to develop a series of commercial devices capable of being connected to both new and existing panels.
Dr Ahmed, Associate Professor in Information Technology in the Faculty of Science & Environment, Plymouth University, said,
"Current power extraction methods that use maximum power point tracking are relatively inefficient. By changing the manner in which energy is extracted from Photovoltaic panels using the PulsiV technique, the characteristics of the panel change. This has the potential to increase the power available from the panel significantly."
Neil Crabb, Chief Executive of Frontier IP, said,
"Early results suggest that PulsiV Solar's technology has the potential to materially improve the economics and efficiency of photovoltaic solar power generation and we look forward to working with the new company as it moves into commercialisation."
Enquiries
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Frontier IP Group Plc |
Neil Crabb, Chief Executive |
T: 0131 220 9491 |
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www.frontierip.co.uk |
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Cantor Fitzgerald Europe |
Mark Percy/ Catherine Leftley |
T: 020 7894 7000 |
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(Nominated Adviser and Joint Broker) |
David Banks / Paul Jewell |
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Peterhouse Corporate Finance Limited (Joint Broker) |
Jon Levinson/ Lucy Williams |
T: 020 7469 0935 |
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Biddicks |
Katie Tzouliadis/ Deborah Walter |
T: 020 3178 6378 |
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Notes to Editor:
Frontier IP specialises in the commercialisation of Intellectual Property. It establishes partnerships with individual universities and research institutions to assist with their spin-out and licensing activities and helps to maximise the commercial value of technologies emerging from their research programmes. www.frontierip.co.uk
Plymouth University is consistently ranked as one of the leading universities in the UK and, awarded a Queen's Anniversary Prize for Higher and Further Education in 2012, has a strong record of excellence, enterprise and innovation across its teaching and research activities. Distinguished by its long-term engagement with business and the community, the University enjoys outstanding links with employers and plays a key role in civic and regional leadership. It is the only university in the world to have been awarded the Social Enterprise Mark in recognition of its work in support of the sector.
This information is provided by RNS
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