New Spin-out Company
AIM: FIPP
FRONTIER IP GROUP PLC
("Frontier IP" or "the Group")
First Spin-out Company
with
the University of Central Lancashire
Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce that it has agreed a collaboration with the University of Central Lancashire ("UCLan") to create and develop a new spin-out company from UCLan's Silicate Research Unit. The Group will provide advisory services and support in return for a 30% stake in the spin-out company and it is intended that Frontier IP will receive a share of licensing revenues.
The new spin-out company is being formed to license and commercialise the process which the Silicate Research Unit has developed to transform waste materials into a highly durable and functional material with applications in the construction industry. Waste materials that can be converted include ceramics, incinerated waste and lead glass. The new material has a wide range of uses including interior and exterior wall cladding, flooring, bricks and work surfaces and is also itself wholly recyclable. The Silicate Research Unit believes that the new material offers an attractive option for architects and designers, combining sustainability with the ability to customise the design and finish of the product. The product has recently been exhibited at a number of international design shows where it was well received.
UCLan is committed to delivering high impact research which has commercial potential. It has a well established research reputation within the areas of Business, Health, Humanities and Science which has lead to the emergence of specific research centres in a number of areas including Nuclear, and Nanotechnology and Bioengineering. In the latest Research Assessment Exercise*, all 17 of the subject areas UCLan submitted were rated as containing research of international excellence while 11 areas were assessed to be undertaking research which is world-leading.
Neil Crabb, Chairman of Frontier IP, said,
"This collaboration with the University of Central Lancashire represents an exciting new opportunity for Frontier IP. We have in-depth experience in commercialising university IP and we look forward to working with UCLan to maximise the potential of the Silicate Research Unit's cutting-edge product, which offers a 100% recyclable option to designers and architects across a broad range of applications."
Professor Margaret Bruce, Pro Vice Chancellor for Engagement at UCLan commented on the relationship,
"This is an important development for UCLan. By working together with our academics and Frontier IP, we will be able to capitalise on the excellent research within the university and bring innovative products to market."
David Binns from the Silicate Research Unit added,
"We are delighted that our innovative research is being taken out into the wider world. Our new products have the potential to make a real difference in the sustainable use of previously problematic waste materials."
* conducted jointly by the Higher Education Funding Council for England, the Scottish Funding Council, the Higher Education Funding Council for Wales and the Department for Employment and Learning, Northern Ireland and published in 2008
Enquiries
Company website: www.frontierip.co.uk
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Frontier IP Group Plc |
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T: 0131 220 9491 |
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Neil Crabb, Executive Chairman |
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Fairfax IS PLC |
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T: 020 7598 5368 |
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(Nominated Adviser and Broker) |
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Stuart Gledhill / Katy Birkin |
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Biddicks |
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T: 020 3178 6378 |
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Katie Tzouliadis / Sophie McNulty |
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Notes to Editor:
The University of Central Lancashire ("UCLan") offers over 500 undergraduate programmes and 180 postgraduate courses. The University has an established research reputation within the areas of Business, Health, Humanities and Science. In the Research Assessment Exercise 2008, all 17 subject areas submitted were rated as containing research of international excellence while 11 areas were assessed to be undertaking research which is world-leading. With approximately 32,000 students, the University indirectly contributes close to £250 million into the regional economy every year. UCLan is currently in the process of spending more than £120 million on new buildings and facilities to support teaching, learning and leisure activities.
Frontier IP Group Plc ("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.
This information is provided by RNS
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