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Started: rivaldo, 31 May 2024 08:20
Last post: rivaldo, 31 May 2024 08:20
He notes that:
- Alusid's IPO is planned for later this year
- they're working with a European partner on a new range for launch in Sept/Oct
- they're planning to develop 20 new floor and wall tile ranges in the next few years
Https://www.proactiveinvestors.co.uk/companies/news/1048772/alusid-launches-eco-friendly-floor-tiles-and-prepares-for-ipo-1048772.html
Started: Freedom4Uall, 24 May 2024 12:14
Last post: Acuere, 24 May 2024 13:14
Yes there is a greater risk with unquoted investments which is why Fipp current market cap of £23m is roughly at a 50% discount to the NAV you quote.
It is worth noting however that historically Fipp have been conservative with their valuation of investments.
These were the book values of Fipps stake in Exscientia, the one company to IPO so far.
30 June 2020. £4.4m
30 June 2021. £13.2m
1st Oct 2021. At IPO $34.4m (about £25.8m at time)
47m total asset of which 33.4m is in unquoted equity, anyone else concerned as to the unreliability of unquoted equity valuations? What are the pros and cons with FIPP?
Started: rivaldo, 24 May 2024 07:32
Last post: rivaldo, 24 May 2024 07:32
Good news today from Alusid - the launch of their first range of recycled floor tiles into Topps Tiles.
Note that Alusid "is now progressing with plans for an initial public offering later this year":
Https://uk.advfn.com/stock-market/london/frontier-ip-FIPP/share-news/Frontier-IP-Group-plc-Topps-Group-s-arm-launches-Alusid-floor-tile-range/93920116
Also:
"Other Alusid customers include Starbucks EMEA, H&M, Pret a Manger and the BBC. The Company is in discussions with potential distributors in Northern Europe to expand into new territories"
Petrencf, with £4.5m net cash including the last Exscientia sale FIPP should have more than enough cash for some time to come imo considering admin expenses were only £1.8m last year, including further investments into the portfolio.
Started: oldbutnowisa, 23 May 2024 16:47
Last post: oldbutnowisa, 23 May 2024 16:47
...ignore! Been in my Watchlist but today I ditched Johnson Matthey at a loss and started a position here. Vrtually nobody realizes how valuable IP can be to own but its time will come and AI may well emphasize that.
Started: rivaldo, 2 May 2024 08:54
Last post: petrencf, 8 May 2024 17:05
Hi Rivaldo, you follow this company closely. What do you think do they need additional funding this year or is there enough cash until the IPO of Alusid? Thx.
Further to my prior post, Diagen.AI actually raised CAD$1.5m in Q1 as announced on March 6th:
Https://diagen.ai/diagen-ai-inc-announces-unit-financing-and-appointment-of-davidson-company-llp-as-independent-auditor/
In the press release they also state they intend to IPO "later this year":
"The Company will execute future ongoing rolling closings periodically, with a final closing early Q2 of 2024. Use of proceeds of the financing are for general working capital, completion of the Company’s audit and launch of the Company’s intended go public transaction later this year."
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
Started: rivaldo, 22 Apr 2024 09:29
Last post: rivaldo, 22 Apr 2024 09:29
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/
Started: jollyspeculator, 11 Apr 2024 11:42
Last post: jollyspeculator, 11 Apr 2024 11:42
Maybe the legendary ST is about to tip
again
lol
Started: rivaldo, 27 Mar 2024 08:24
Last post: rivaldo, 27 Mar 2024 08:24
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/
Started: rivaldo, 19 Mar 2024 09:23
Last post: rivaldo, 19 Mar 2024 09:23
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/
Started: rivaldo, 14 Mar 2024 07:45
Last post: rivaldo, 18 Mar 2024 11:55
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.
Started: jollyspeculator, 8 Mar 2024 13:33
Last post: jollyspeculator, 8 Mar 2024 14:57
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?
..
Started: rivaldo, 7 Mar 2024 15:27
Last post: rivaldo, 7 Mar 2024 15:27
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."
Started: jollyspeculator, 6 Mar 2024 10:05
Last post: jollyspeculator, 6 Mar 2024 10:07
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
Started: jollyspeculator, 4 Mar 2024 14:48
Last post: jollyspeculator, 4 Mar 2024 14:48
Joining AXA in disclosing further exiting
Hardly inspires confidence
Started: jollyspeculator, 4 Mar 2024 10:27
Last post: jollyspeculator, 4 Mar 2024 10:27
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
Started: PrivatePunter, 1 Mar 2024 15:29
Last post: rivaldo, 4 Mar 2024 07:31
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.....
Started: rivaldo, 29 Feb 2024 15:48
Last post: rivaldo, 29 Feb 2024 15:48
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!
Started: rivaldo, 28 Feb 2024 11:07
Last post: PrivatePunter, 28 Feb 2024 19:59
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.
Started: rivaldo, 29 Jan 2024 10:06
Last post: jollyspeculator, 23 Feb 2024 14:55
Why does anyone follow ST????
I mean..it makes me money...just selling against his spikes
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
""Back future tech winners via Frontier IP
Smart technology funds are investing in tile company Alusid ahead of an IPO – and so can you through this below-the-radar investment company
January 22, 2024
by Simon Thompson
Portfolio attracts high-profile technology investor
50 per cent share price discount to NAV
Edinburgh-based Frontier IP (FIPP:40p), a technology investment company that provides commercialisation services to university spin-outs in return for ‘free equity’ stakes, has announced a successful capital raise for portfolio company Alusid. Alusid creates premium-quality tiles and architectural surfaces
by recycling industrial waste ceramics, glass and other materials, much of which would end in landfill.
As part of a larger £1.13mn funding round, Octopus AIM VCT funds are investing £0.5mn in Alusid, which values the company at £9.5mn. Frontier IP holds a 35.4 per cent equity stake in Alusid worth £3.3mn. The cash proceeds will be used to support Alusid's expansion into new product ranges and territories. For instance, the
company is developing hard-wearing floor tiles, which are expected to launch commercially this year, and is in discussions with potential distributors in Scandinavia and Northern Europe. It is also exploring options for an IPO later this year.
There is clear momentum in Alusid’s business. In the past year, the company has launched environmentally friendly products with Topps Tiles, the UK's largest tile retailer, and is in collaboration with Imerys, a world leader in speciality minerals, to develop floor tiles. Other customers include H&M, Pret a Manger, BBC and Starbucks.
Prospects for further gains on Frontier’s portfolio are being woefully undervalued. To put this into perspective, Frontier holds a liquid £2.3mn stake in Nasdaq-listed Exscientia (US: EXAI)Exscientia (US: EXAI), a clinical-stage pharmaceutical technology company, pro-forma cash of £2.5mn (after factoring in operating expenses in the past six months), a £33mn equity portfolio, £5.9mn of debt investments and £1mn of trade receivables.
Ignoring the possibility of valuation uplifts in the forthcoming interim results, the £22.5mn market capitalisation company is rated on a 50 per cent discount to book value.
That’s an extreme discount considering the progress being made by multiple investee
companies including its largest holding, Plymouth University spin-out Pulsiv Solar, a green technology company that has developed on-chip technology to improve the energy efficiency of power supplies, battery chargers, LED lighting and photovoltaic solar cells.
Frontier IP’s 18 per cent stake in Pulsiv had a read-through valuation of £9.3mn following Pulsiv's last fundraising. So, although Frontier IP’s share price is slightly shy of my last buy call (‘Bag a technology bargain buy’, 31 October 2023), there is a clear disconnect between the value embedded in an exciting investment portfolio and the price a
Started: jollyspeculator, 30 Jan 2024 14:18
Last post: jollyspeculator, 30 Jan 2024 14:18
Sold half as well >50p
tp c40p
Started: rivaldo, 30 Jan 2024 12:10
Last post: rivaldo, 30 Jan 2024 12:10
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"
Started: Acuere, 27 Jan 2024 12:38
Last post: Acuere, 27 Jan 2024 12:38
A promising post from Rich Ford indicating Astute Electronics will be using Osmium. Astute Electronics had turnover of £287m in 2022 up from £119m in 2021.
“This gamechanging technology is the best thing to have happened to power supply design for decades in my opinion. Astute Electronics are moving forward with this technology and more amazing news will follow as Pulsiv surge forward”
hTTps://www.linkedin.com/feed/update/urn:li:activity:7155324198054207489/
Started: rivaldo, 26 Jan 2024 12:15
Last post: rivaldo, 26 Jan 2024 12:15
This is from the full year results
“CamGraPhIC is another company making excellent technical and commercial progress with its graphene-based photonics technology. The company was already working closely with major multinationals in data and telecommunications but is now starting to gain traction from beyond the sector and from governmental organisations.”
They've now appointed an interim CEO, as per this on LinkedIn.
"Ben Jensen
It's great to be able to share that I’ve started a new position as Interim Chief Executive Officer at CamGraPhIC Ltd!
I'm really looking forward to sharing some of the amazing progress we have made over the last few years and talking about how we are scaling Graphene Integrated Photonics (GIP) into a high volume foundry process.
Alan Thompson
Development & Government Affairs and Relations | Development Bank | Strategy / Value Proposition
Congratulations Ben! Look forward to continuing the overlap with Space applications.
Ben Jensen
Author
Thanks Alan. There’s definitely a good overlap with this technology."
Started: rivaldo, 26 Jan 2024 09:01
Last post: rivaldo, 26 Jan 2024 09:01
Here's FIPP's RNS re new investment into Alusid from Octopus and a potential IPO for Alusid later this year:
Https://uk.advfn.com/stock-market/london/frontier-ip-FIPP/share-news/Frontier-IP-Group-plc-Octopus-invest-in-Alusid-as-part-of-equity-funding/93094966
Commentary in the Times:
Https://www.thetimes.co.uk/article/21alusid-xr5jkdkfv
"A company that turns recycled industrial waste into premium-quality tiles has been valued at £9.5 million before a potential stock market float, after raising more than £1.1 million from investors.
Alusid, which makes handmade tiles and surfaces such as table-tops at its factory in Preston, Lancashire, said that £500,000 of that sum had come from Octopus Investments, the financial services business that manages more than £13 billion of private equity, venture capital and listed company assets.
Proceeds from the initial public offering will be used to support the company’s expansion into new product ranges and territories. Alusid, which is developing hard-wearing floor tiles that are expected to be launched commercially this year, is also in talks with potential distributors in Scandinavia and northern Europe.
Last year the business signed a multi-year deal with Topps Tiles and it has produced its first range of mass-manufactured tiles for the retailer, with further product launches expected. Other customers include Pret a Manger, the BBC and H&M, the fashion group.
Alasdair Bremner, 43, the company’s chief executive, said: “We are delighted with the investment and support from Octopus and look forward to working with them. This is an important year for Alusid as we launch our first 98.5 per cent-recycled, low-carbon floor tile, expand our geographical reach and seek to become a public company.”
Bremner co-founded the business with David Binns, now its creative director, after being awarded an Arts Council grant to explore the “aesthetics of waste’ while working as an academic in the ceramics department at the University of Central Lancashire.
Neil Cragg, the chief executive of Frontier IP, which specialises in turning intellectual property into commercially viable ventures and which holds a 35.4 stake in Alusid, said: “The investment from Octopus represents important validation for Alusid, its capital-efficient business model and the quality of its products, made from a minimum of 91 per cent-recycled material, among the highest levels in the industry, if not the highest.”
And here's a new video from Alusid's CEO about the Octopus investment and upcoming IPO:
Https://www.youtube.com/watch?v=jwyMmymdAXo
"Alasdair Bremner, chief executive, of Alusid, a portfolio company of Frontier IP Group PLC, joined Proactive's Stephen Gunnion after the company raised £1.1 million, including £500,000 from Octopus Investments.
Bremner said the company will use the funding to expand its
Started: rivaldo, 5 Jan 2024 10:57
Last post: rivaldo, 5 Jan 2024 10:57
FYI Techinvest reviewed the prelims as follows in their recent December issue:
"Frontier IP
40.5p (FIPP; AIM)
Results for the year ended June 30 showed good operational progress among the fund’s portfolio companies against a background in which valuations for unlisted tech operators softened. Net assets per share for the period decreased by 8% to 81.8p. The unrealised loss on the revaluation of investments was £0.97m compared to an unrealised gain of £10.91m in the prior year. Part-disposal of the fund’s
holding in Exscientia generated cash of £4.92m, realising a loss of £0.79m. This compares to a part-disposal of Exscientia in 2022 which generated cash of £6.53m and a profit of £2.87m. The fair value of the equity portfolio decreased by 17% to £32.97m following disposals of £5.71m and additions of £0.75m. The cash balance at the year-end was £4.6m (7.9p per share) compared to £4.37m a year earlier.
This was a resilient performance from Frontier against a challenging background for private equity valuations. The portfolio continues to mature, with several companies generating revenues, having achieved commercial traction. Others have made good industrial and technical progress and are described by Frontier as either at or reaching their inflection points.
Two new portfolio companies, Enfold Health and GraphEnergyTech, were added, and a
further one (DeakinBio) joined the portfolio after the end of the year. Despite difficult market conditions, several portfolio companies raised funds. Exscientia was the first portfolio company to list, with a good overall profit for Frontier, but others are approaching that point, including Alusid which reported that it
is exploring options for an IPO in 2024. We strongly believe that tech investors should have some exposure to private equity in the sector and Frontier is one of our favourite plays, offering a well-focused approach with good diversification
across a range of promising technologies and market segments. Subscribers can learn more about Frontier’s portfolio companies by vising the website at www.frontierip.co.uk. The shares are a strong hold."