Pulsiv demonstrates strong progress
RNS
AIM: FIPP
13 July 2020
Frontier IP Group plc
("Frontier IP" or the "Group")
Portfolio news - Pulsiv demonstrates strong commercial and technical progress
Frontier IP, a specialist in commercialising intellectual property, today announces that portfolio company Pulsiv Solar Limited ("Pulsiv" or the "Company") continues to make strong commercial and technical progress with its patented technology to improve the energy efficiency of the power converters used in a host of everyday products.
The Company, in which Frontier IP holds an 18.9 per cent equity stake, also announces that it is presently in discussions with investors to raise further funding which, if completed, would be at a significant premium to the current book value at which it is held by the Group.
It is expected that any increase in the Company's book value will be reflected in the Group's results to 30 June 2020. This potential fundraising has been launched following successful demonstrations of the Company's technology for use in a wide range of industrial applications.
Pulsiv has:
· Started design work funded by a major multinational to incorporate the technology into a new product line
· Engaged in discussions with a number of other large multinational companies about a wide range of further industrial applications
· Filed a further two priority patent applications on top of the one filed late last year. The Company now has eight separate patent families, five of which have progressed to grant, across all major territories worldwide, reflecting the significant amount of development undertaken and the strength of the intellectual property position underpinning it.
The step change in industrial engagement follows the Company, a spin out from the University of Plymouth, successfully developing a series of demonstration products which show the technology not only improves energy efficiency but has the potential to reduce costs.
Pulsiv's technology has very broad applicability because it improves the efficiency with which alternating current, AC, is converted into direct current, DC, and vice versa. Power conversion is a ubiquitous requirement in electrical products. While electricity supply is AC, the electronics in most devices and household goods operate using DC at a number of different voltages; conversely, in power generation, photovoltaic solar cells generate DC electricity, but this needs to be converted into AC to be exported onto the grid or used in the home.
The demonstration products have included an LED driver to demonstrate mains AC being converted to device DC, a power tool battery charger, and solar microinverter for use with photovoltaic solar cells.
Robert Bosch Limited, part of Bosch, has been working with Pulsiv to optimise the design of the Company's energy-efficient solar microinverter prototype. When the prototype moves into full-scale commercial production, it will allow Pulsiv to market microinverters as "Engineered by Bosch".
Pulsiv Solar technical director Dr Zaki Ahmed said: "The strong progress we have been making across a very wide range of applications shows the potential for our technology. I expect us to continue to make good technical progress. The prospects are bright."
Frontier IP chief executive officer Neil Crabb said: "Industry partnerships are vital for validating the technology developed by our portfolio companies and for providing the understanding of the potential markets in which they could operate. The range of businesses Pulsiv is now engaging with gives us high hopes for the future."
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
N+1 Singer (Broker) Harry Gooden / George Tzimas
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T: 0207 496 3000 |
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.
Frontier IP is the commercialisation partner for the University of Plymouth.
ABOUT THE UNIVERSITY OF PLYMOUTH
The University of Plymouth is renowned for high quality, internationally-leading education, research and innovation.
With a mission to Advance Knowledge and Transform Lives, Plymouth is a *top 50 research university with clusters of world class research across a wide range of disciplines including marine science and engineering, medicine, robotics and psychology. A three-time winner of the Queen's Anniversary Prize for Higher and Further Education, the University of Plymouth continues to grow in stature and reputation.
It has a strong track record for teaching and learning excellence and has one of the highest numbers of National Teaching Fellows of any UK university. With over 19,000 students, and a further 9,500 studying for a Plymouth degree at partner institutions in the UK and around the world, and over 130,000 alumni pursuing their chosen careers globally, it has a growing global presence.
* Research Fortnight Research Power League Table 2014.
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