Last checked at 11 Jul 2018 07:00
RNS REACH / RNS
AIM: FIPP
11 July 2018
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - Innovate UK grant for Pulsiv Solar to step up development of energy-efficient solar power technology
Frontier IP, which specialises in commercialising university intellectual property, today announces portfolio company Pulsiv Solar (the "Company") has won a UK government grant to reach an important milestone in the development of its patented, energy-efficient solar power technology.
Innovate UK, the UK's innovation agency, has awarded University of Plymouth spin-out Pulsiv Solar £129,929 towards a £288,732 project, run in collaboration with specialist consultancy Eastmap. The project will complete the technological development of its solar micro-inverter by April next year. Frontier IP holds an 18.9 per cent stake in the Company.
Solar micro-inverters are plug-in devices that convert direct current (DC) electricity generated by photovoltaic cells to alternating current (AC) used in electrical grids. In laboratory conditions, Pulsiv has demonstrated its technology is significantly more energy efficient than existing micro-inverters.
The aim of the technological development is to create a micro-inverter ready for scale up and commercialisation providing efficiency improvements of at least 5 per cent over current market leaders. The micro-inverters can be used either as new or retrofitted to existing solar panels.
Other applications being explored for the technology include improving the energy efficiency of power converters used in a huge range of consumer devices, such as televisions, mobile phones and laptops. The technology and the early results achieved have attracted strong interest from major industrial and consumer electronic groups.
Pulsiv Solar was incorporated in 2013 to develop and commercialise the work of Dr Zaki Ahmed, associate professor in information technology at the School of Computing, Electronics and Mathematics at the University of Plymouth. The technology is protected by two US and one European patents.
Eastmap is run by design engineer Andy Hills, a specialist in power conversion and magnetics technology. He has worked for McLaren, Dyson and micro-inverter manufacturer Enecsys.
Pulsiv Solar technical director Dr Zaki Ahmed said: "This grant application is a big step forward for Pulsiv Solar in commercialising our patented micro-inverter technology. The energy efficiency improvements it provides are significant, and we're delighted it's generating such strong industry interest."
Frontier IP Chief Executive Officer Neil Crabb said: "We're very excited Pulsiv has won this Innovate UK grant to take these potentially ground-breaking micro-inverters to the next stage. We believe efficiency improvements of at least 5 per cent represent a real breakthrough, a view confirmed by the major industry groups we are talking to."
ENQUIRIES
Frontier IP Group Plc | T: 0131 240 1251 |
Neil Crabb, Chief Executive Andrew Johnson, Communications & Investor Relations Company website: www.frontierip.co.uk |
M: 07464 546 025 |
Cenkos Securities plc (Nominated Adviser and Joint Broker) | T: 0131 220 6939 |
Neil McDonald / Beth McKiernan |
|
Peterhouse Corporate Finance Limited (Joint Broker) | T: 020 7469 0935 |
Lucy Williams |
|
Kreab (Financial PR) | T: 020 7074 1800 |
Robert Speed / Matthew Jervois |
|
ABout frontier IP
Frontier IP unites science and commerce by identifying strong intellectual property and accelerating its development through a range of commercialisation services. A critical part of the Group's work is involving relevant industry partners at an early stage of development to ensure technology meets real world demands and needs.
The Group looks to build and grow a portfolio of equity stakes and licence income from by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.
Frontier IP is the commercialisation partner for the University of Plymouth.
ABOUT INNOVATE UK
Innovate UK is the UK's innovation agency. It works with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy. For further information visit www.innovateuk.gov.uk
ABOUT THE UNIVESITY OF PLYMOUTH
The University of Plymouth is renowned for high quality, internationally-leading education, research and innovation.
With a mission to Advance Knowledge and Transform Lives, Plymouth is a *top 50 research university with clusters of world class research across a wide range of disciplines including marine science and engineering, medicine, robotics and psychology. A twice winner of the Queen's Anniversary Prize for Higher Education, the University of Plymouth continues to grow in stature and reputation.
It has a strong track record for teaching and learning excellence, and has one of the highest numbers of National Teaching Fellows of any UK university. With 21,000 students, and a further 17,000 studying for a Plymouth degree at partner institutions in the UK and around the world, and over 100,000 alumni pursuing their chosen careers globally, it has a growing global presence.
http://www.plymouth.ac.uk