Portfolio news: Alusid launches luxury Block range
RNS REACH
AIM: FIPP
09 April 2020
Frontier IP Group plc
("Frontier IP" or the "Group")
Portfolio news - Alusid launches luxury Block range through exclusive Kickstarter campaign
Frontier IP, a specialist in commercialising intellectual property, announces that portfolio company Alusid Limited ("Alusid" or the "Company") has launched a new luxury brand called Block via an exclusive Kickstarter campaign in collaboration with design consultancy Collective HQ.
Block, which has been named as a "Project We Love" by the Kickstarter team, demonstrates the ability of Alusid to create beautiful, premium-quality, hand-crafted solid surfaces from no less than 98 per cent recycled glass and ceramic industrial waste. The initial products being made under the Block name are a range of small-to-medium sized occasional tables. Alusid is making the tabletops, while Collective HQ are making the bases. More details can be found here . Kickstarter awards "Project We Love" status to those which "really stand out".
The project shows the versatility of Alusid's patented processes to recycle industrial waste, much of which would otherwise go to landfill, to create attractive tiles, tabletops and other surfaces. Clients for bespoke products include Harrods, Selfridges, Amazon UK, Nando's and Pret-a-Manger, all of which have been secured by UK distributor Panaz.
Parkside Architectural Tiles, the commercial arm of Topps Tiles plc, is also distributing the Company's upmarket Sequel range of wall tiles.
Alusid has now also successfully adapted its patented technologies for scale up to mass production on industry-standard tile making equipment, increasing production capacity from 4,000m 2 a year to 1,000m 2 a day, opening up new markets for the Company. The initial production run has been bought by a major retailer.
Alusid is a spin out from the University of Central Lancashire ("UCLan"). It was co-founded by Chief Executive Officer Dr Alasdair Bremner and Creative Director Professor David Binns, who is also Head of Contemporary Ceramics at UCLan. Frontier IP holds a 35.6 per cent equity stake in Alusid.
Alusid co-founder and Chief Executive Officer, Dr Alasdair Bremner, said: "This Kickstarter project, in collaboration with Collective HQ, allows us to open up and demonstrate new creative possibilities for our material through these high-end tables. Our strong belief is people are keen to buy sustainable products, but only if they match the aesthetic appeal of non-sustainable equivalents. Block is an ideal way for us to show this."
Frontier IP Chief Executive Officer, Neil Crabb, said: "Alusid has made excellent progress this year, despite the uncertainty and delays caused by the COVID-19 outbreak. It has successfully demonstrated that it can scale up to mass production on industry-standard tile making equipment and has won new customers. This Kickstarter project and Block shows the Company can meet the needs of different markets across a number of different price points."
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.
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