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Today's RNS that FIPP holds a 4.26% stake in Diagen AI Inc., which has announced a collaboration with FIPP's investee TVG, sounds encouraging at first look if not hugely significant.
But if you then look at Diagen's investor slide deck, slide 23 reveals that they are completing a pre-IPO round and are looking to go public in this Q2.....
In which case, at North American valuations, a 4.26% stake might be reasonably material to little ol' FIPP.
Now there's many a slip 'twixt the cup and the lip, as old people would say - and earlier in the slide deck it mentions listing in Q1. Nevertheless Diagen seem keen to list at the earliest opportunity.
Note that Neil Crabb is pictured and mentioned a couple of times as an advisor, and TVG are listed on slides 21 and 22:
Https://investor.diagen.ai/deck
Molendotech are trialling their Bacterisk kit with the West Country Rivers Trust. This reads well:
“If successful, the methodology can be rolled out to other UK Rivers Trusts.”
Https://wrt.org.uk/innovative-river-test-for-unseen-health-risks/
Maybe the legendary ST is about to tip
again
lol
Good news from Fieldwork Robotics posted elsewhere by acuere - a £600k grant win and an impressive new CFO.
That's over £1.1m of grants won by Fieldwork Robotics in the last 3 months alone:
Https://fieldworkrobotics.com/fieldwork-wins-government-grant-and-appoints-new-cfo-christopher-levine/
Excellent coverage of Pulsiv's "groundbreaking" power charging tech, and particularly nice to see that a variant is to come to support the latest Apple MacBook:
Https://www.astutegroup.com/news/industrial/groundbreaking-usb-c-technology-from-pulsiv-and-astute-electronics-signals-the-end-of-bulky-wall-chargers/
FIPP are featured on i.i.i as an AIM growth share to consider:
Https://www.ii.co.uk/analysis-commentary/five-aim-growth-shares-your-isa-ii531086
"Frontier IP (FIPP)
Price: 42p
Technology investment company Frontier IP Group FIPP is different to the other companies because if it makes a profit it tends to be because of gains in its portfolio company valuations or those realised via disposals. Management’s relationships with a number of universities in the UK and Portugal provide it with opportunities. There are parts of the portfolio that are starting to mature and provide exits.
The model is that Frontier IP earns stakes in technology spin-outs in return for providing advice and services and not from investing cash directly. In the six months to December 2023, the net asset value (NAV) increased from 81.8p/share to 84.2p/share thanks to higher portfolio valuations and a sale of Exscientia shares.
Nasdaq listed investee company Exscientia is an example of the potential for gains, although not all early-stage portfolio investments will do well. Exscientia is a spin-out from the University of Dundee and uses artificial intelligence to help drug discovery. Frontier IP has raised £14 million from share sales, whereas the cost of the investment was less than £2,000.
Another investee company Alusid, a spin-out from the University of Central Lancashire, produces sustainable tiles and could be on course for a flotation. Other investee companies are making progress with Heriot Watt University spin-out Nandi Proteins singing a commercial licence with a global food ingredients company.
There was cash of £2.7 million at the end of 2023, while a further £1.7 million was subsequently raised from selling the remaining Exscientia shares.
There has been a sharp recovery in the share price this year, but it is still 45% lower than at the end of 2022. The 50% discount to NAV partially reflects the fact that the portfolio is predominantly unquoted. Even so, this discount is too high and should narrow, while positive news on Alucid could provide further upside."
Results are out and look highly encouraging imo.
NAV has held up nicely at 84.2p given the macro environment. Cash is up to £4.4m including the final Exscientia shares sales.
Above all, a number of companies look particularly exciting - namely Alusid, CamGraPhIC, Fieldwork Robotics, Nandi Proteins, Pulsiv and The Vaccine Group.
A number of these are on the cusp of or are now selling product in quantity. Alusid is once again mentioned as IPO-ing soon. GraphEnergyTech and CamGraPhIC sound particularly exciting.
FIPP are trading at less than 50% of NAV. Much too great a discount.
Yes, never fully out...& bought back poxy 7k today (on other exchange)
I fancy this may retest 33p, but the support at 40p makes a little extra in the tank tempting (buying range constrained volatility is fairly obviously a wonderful earner)
I am enjoying the 15-20% swing trading
Are you back in, Jolly?
..
Hope the poster hastings doesn't mind me copying here his post from elsewhere which is extremely useful (and encouraging):
"Good catch up with the CEO yesterday and I plan to meet up with him after the Interim’s in a couple of weeks time. So, I’ll add my write up after that as there should be more to say then, as effectively in a closed period. For now, Nandi very much alive, but news dictated by commerciality agreements.
A number of investments appear to be nearing key points, so there should be more on the news front through the year. Institutional sells down to a mix of change of fund managers and redemptions.
Miton in particular has been selling a number of small cap stocks to meet redemptions, so FIPP isn’t alone on that front. Happy to continue holding here as I believe the sp recent trend will reverse at some point, although I don’t have my crystal ball to hand."
Exit pronto, I mean
sure they are hoping to mature value with a view to an exit sometime
Plus no obvious signs of any effort to generate a decent exit
#PerfectStorm
Joining AXA in disclosing further exiting
Hardly inspires confidence
Tech may be interesting, but that's so besides the point it's embarrassing
these guys need to find a convincing exit for one of their bets...pronto
and no one seems to get it
Cheers, an excellent write-up on Pulsiv.
Pulsiv certainly looks extremely exciting - if it succeeds it will be worth a multiple of its current valuation, particularly if it attracts American institutional interest. Great to hear of those advanced orders in particular.....
Write up for interest https://martinflitton1.wixsite.com/privatepunter/post/could-pulsiv-prove-to-be-a-tech-star-for-fipp-01-03-24
Glad to see that FIPP have taken advantage of the recent uptick in Exscientia's share price to offload the rest of their holding.
That's another £2.54m in the bank, to recycle into the rest of the portfolio:
Https://uk.advfn.com/stock-market/london/frontier-ip-FIPP/share-news/Frontier-IP-Group-plc-Sale-of-shares-in-Exscientia/93390764
A £14 million return for a total cost of £2,000 is pretty astonishing. Hopefully the likes of Pulsiv and others will bring in more in terms of capital return even if perhaps not quite as good in percentage terms!
Stuart, the key is Pulsiv's own custom chip which holds all of the important IP that then goes into a microcontroller.
They are using a Tier 1 semi-conductor company for this, but importantly, are not tied to that one partner and they are not adopting the licensing model such as that which the likes of ARM went for.
The manufacturers will, as you say use the designs (free to download) in order to meet their own specific requirements, but again, it Pulsiv's unique chip that is key to the whole thing.
I have caught up with the CEO recently and currently working on a write up, with further contact following this excellent news.
It looks to me as if Pulsiv are producing designs, which manufacturers of power packs and the like may purchase and/or license. Pulsiv's manufacturing appears to be limited to what are effectively prototypes, which demonstrate the feasibility of their designs. They are therefore reliant on manufacturers adopting their designs. Presumably they will get an initial sum for the licence and some sort of royalty on whatever is manufactured and sold. I would be interested to see the detail of this but, assuming I am right, they will not have to pay for any costly manufacturing set up or any work in progress, distribution and sales networks.
This sounds pretty revolutionary (to this non-techie anyway!):
Https://www.eejournal.com/industry_news/pulsiv-to-deliver-groundbreaking-usb-c-reference-designs-finished-modules-with-more-than-95-average-efficiency/
The end markets are huge - "a new class of sustainable USB-C chargers, adapters, and in-wall sockets" - and imminent, given the first solution "is expected to be announced towards the end of March 2024".
Pulsiv might have done themselves a favour by putting at the end of the press release a brief bio of their partner Innosceince, since Innoscience are:
"the largest 8-inch Integrated Device Manufacture (IDM) fully focused on GaN technology in the world. We fully control and own the world-wide largest dedicated 8-inch GaN-on-Si wafers manufacturing capacity"
Https://www.innoscience.com/
Pulsiv's own press release isn't yet on their web site, so perhaps this suggestion might yet come to pass.
Why does anyone follow ST????
I mean..it makes me money...just selling against his spikes
Sold half as well >50p
tp c40p
Good news for Fieldwork Robotics dated 21st December '23 not posted here before - note the £3m funding round too:
"Fieldwork wins Government Grant to Accelerate £1.1m BerryBot Project
Fieldwork Robotics Ltd. (“Fieldwork”), developers of selective, adaptive and modular harvesting robots is pleased to announce that it has been awarded a £515k grant from the Department of Food and Rural Affairs (DEFRA) and UK Research and Innovation (UKRI) to accelerate its £1.1m BerryBot Project. Fieldwork will lead the project working alongside Performance Projects Ltd., leaders in agricultural robotics manufacturing and the Hall Hunter Partnership, one of the UK’s largest berry growers. The project is focused on increasing the performance and robustness of Fieldwork Robotics’ raspberry harvesting robot, Alpha, which will allow Fieldwork to offer an operational and profitable robotics harvesting service to UK raspberry growers by 2025.
The BerryBot Project will further develop the robot’s hardware, software and control/vision to enable picking at an enhanced rate. These engineering advancements will allow Fieldwork to offer an operational and profitable robotics harvesting service for UK raspberry growers.
Project partner Performance Projects Ltd. (PP) is a leader in robust mobile platforms for agricultural robots, which has among others developed the state-of-the-art GoFAR agritech platform driven by OxDrive hub motors.
PP’s experience with GoFAR is invaluable for this project and will be harnessed to create the mobile platform for Fieldwork’s robot to increase uptime and mobility.
As an end-user, the project includes the Hall Hunter Partnership (HHP) one of the UK’s largest berry producers. This will expand upon the existing collaboration between Fieldwork and HHP.
Throughout the project, the robotics technology will be tested regularly at HHP’s raspberry farms, enabling the team to make adjustments based on real-world usage helping to optimise the productivity of the robot. This collaboration will also allow the team to identify the optimum raspberry growing environment, further enhancing the benefit to farmers of Fieldwork’s technology.
This grant award follows a recent £3m+ funding round, which included a £1.5m investment from Elbow Beach Capital and a £1.5m+ Seedrs crowd fundraise.
etc"
Surprisingly difficult to buy, so sold 8k @44.99
hold c40k...will aim to sell half c 50p
this volatility that ST/reality provide is fun