LONDON (Alliance News) - Frontier IP Group PLC Monday said it has agreed a deal to take a 40% equity stake in Cambridge Sensor Technologies Ltd in exchange for providing the new portfolio company with advisory and business development services.
Cambridge Sensor Technologies was formed to exploit heating system, sensors and control strategies for industrial processes developed by Dr Mark Williamson, a lecturer and researcher at the Department of Chemical Engineering and Biotechnology at the University of Cambridge.
"The benefits of the technology include reduction in energy consumption and improvement/optimisation of the quality and consistency of the manufactured goods. A program of industrial trials is already underway, in collaboration with major multinational companies in the food and speciality chemicals sectors," Frontier IP said.
Frontier IP shares were flat at 25.58 pence on Monday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Frontier Ip (FIPP)