ALM.L Regulatory News (ALM)

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Allied Minds Announces the Formation of BridgeSat, Inc.

· The company is developing an optical connectivity system that aims to increase the speed, security and efficiency of data transmissions from low Earth orbit (LEO) satellites at a reduced cost compared with traditional radio frequency solutions.

· BridgeSat co-invented this innovation with The Aerospace Corporation as part of a commercialization collaboration for the federally funded research and development center's extensive portfolio of small satellite technologies.

· BridgeSat has partnered with Draper Laboratory, and is also collaborating with Massachusetts Institute of Technology Assistant Professor of Aeronautics and Astronautics, Dr. Kerri L. Cahoy and the graduate student team in the Space, Telecommunications, Astronomy, and Radiation (STAR) Laboratory, to further expand development of its downlink system.

Boston (March 10, 2015) - Allied Minds (LSE: ALM), an innovative U.S. science and technology development and commercialization company, announced the formation of BridgeSat, Inc., which is building an optical connectivity system to improve the wireless transfer of data from satellites.

BridgeSat co-invented the technology with The Aerospace Corporation as part of a commercialization collaboration for the portfolio of innovations created at the federally funded research and development center (FFRDC). Aerospace has a long history of developing technologies for space, including 15 years of experience building small satellite technologies for both commercial and government entities.

"The Aerospace Corporation is a key player and leader in all aspects of space communication systems and technologies," said Dr. Sherrie Zacharius, Vice President of Technology and Laboratory Operations. "Through our robust research and development endeavors, we have established a rich portfolio of innovative building-block technologies applicable to broad public needs. This collaboration with Allied Minds, which led to the formation of BridgeSat, provides an avenue for technology transfer to the commercial sector for the common good."

"Our research with The Aerospace Corporation has allowed us to explore new, more effective options for LEO data transmissions," said John Serafini, Vice President at Allied Minds. "At BridgeSat, we believe we've solved challenges including size, weight, cost and power bottlenecks that had traditionally hampered optical-based data downlink, as the technology ultimately offers substantial benefits over traditional RF downlink."

Demand for accurate and frequent data collection from LEO satellites is expected to accelerate aggressively over the next decade amidst declining costs for building and launching satellites. BridgeSat has partnered with Draper Laboratory to develop the system that will provide an alternative downlink mechanism that is faster, more secure, and available at a lower cost to traditional radio-frequency transmissions.

"Draper's expertise in space systems technologies, optics and secure digital data links, as well as its experience in applying its capabilities to expanding commercial markets, will help BridgeSat mature its concepts throughout development and operations," said Dr. Seamus Tuohy, director of Space Systems at Draper Laboratory.

BridgeSat has also engaged with Dr. Kerri L. Cahoy, Assistant Professor of Aeronautics and Astronautics at the Massachusetts Institute of Technology (MIT). Dr. Cahoy will serve as a Senior Advisor to the company. BridgeSat has optioned a relevant selection of intellectual property from Cambridge, Massachusetts-based MIT.

"Optical communications offer a significant advantage in both resource utilization and security. We are innovating to improve and miniaturize spacecraft-pointing capabilities, an important enabler for higher-rate narrow beam optical systems, improved transmitter efficiency and the development of low-cost, easily deployed, and effective ground systems," said Dr. Cahoy.

BridgeSat, Inc. is a subsidiary of Boston-based Allied Minds. More information about the company and its research can be found www.BridgeSatInc.com.

About Allied Minds

Allied Minds (LSE: ALM) is an innovative U.S. science and technology development and commercialization company. Operating since 2006, Allied Minds forms, funds, manages and builds products and businesses based on innovative technologies developed at leading U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses and product development with capital, central management and shared services. More information about the Boston-based company can be found at www.alliedminds.com.

About The Aerospace Corporation

The Aerospace Corporation is a California nonprofit corporation that operates a federally funded research and development center and has approximately 3,500 employees. It provides guidance and advice to military, civil, and commercial customers to ensure the success of complex, technology-based programs. The Aerospace Corporation is headquartered in El Segundo, Calif., with multiple locations across the United States.

About Draper Laboratory

As an independent, not-for-profit engineering research and development organization, Draper serves the interests of customers in fields such as national security, space, biomedical and energy. The Laboratory leverages core capabilities in guidance and navigation, information and decision systems, high reliability systems, sensors and control, and integrated micro systems to deliver fieldable, innovative solutions.

Allied Minds Forward-Looking Statement

This press release contains statements that are or may be forward-looking statements, including statements that relate to the company's future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risks and uncertainties described in the risk factors included in the company's regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure and Transparency Rules, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.