LONDON (Alliance News) - Mercia Technologies PLC on Thursday said it has continued its backing of University of Birmingham, England spin-out company Smart Antenna Technologies, which hopes its technology can cut costs for mobile handsets.
Smart Antenna wants its single antenna to supplant existing technology used in mobile handsets. "Currently, mobile handsets typically use around six different antennas, but such devices are unable to achieve the desired antenna performance in a size that fits the cellular handset package at acceptable volume production costs," Mercia said in a statement.
Mercia, a Midlands-based investment group building, funding and commercialising technology businesses across the UK, has invested a further GBP1.2 million in Smart Antenna as part of a total funding syndicate of GBP1.5 million. Mercia's subsidiary of third party funds, Mercia Fund Management, had already invested in Smart Antenna.
Mark Payton, the investor's chief executive, said that Smart Antenna's technology has the potential to be a "major component" in the development of next-generation mobile devices.
"We look forward to supporting SAT further as it continues to build market opportunities and develops its ongoing discussions with a range of potential commercial partners," Payton said.
Sampson Hu, the founder of Smart Antenna Technologies, said that more antennas are required for smart phones as their functionality increases.
"Our patented technology provides one powerful, multi-functional antenna system, with the potential to reduce production costs by up to 50% whilst potentially increasing the battery life of the device," Hu said in a statement.
"Mercia's support has been invaluable since the business was launched in 2013, and we look forward to continuing a rewarding and productive relationship with the Mercia team, as we enter the next phase of our growth story," Hu said.
Shares in Mercia were untraded at 56.50 pence on Thursday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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