Imperial Innovations Group Regulatory News (IVO)

6 Jun 2007 15:11

Imperial Innovations Group plc06 June 2007 Imperial Innovations Group plc ("Imperial Innovations") PSE Wins MacRobert Award Further to the release of 5 June 2007, Imperial Innovations Group plc (AIM:IVO), the technology commercialisation and investment company, announces that anImperial Innovations spin-out company, Process Systems Enterprise (PSE), waslast night revealed as the winner of the Royal Academy of Engineering'sMacRobert Award, as announced at a dinner in London attended by HRHPrince Philip and addressed by Lord Browne of Madingley. The award, the UK's most prestigious for engineering, recognises the successfuldevelopment of innovative ideas in engineering by awarding a gold medal and aprize of £50,000 to the winning team members. In winning this award, PSE joinsan impressive roster of previous winners, including IBM, Rolls Royce and BPInternational. Process Systems Enterprise was selected for its innovative gPROMS(R) advancedprocess modelling software. gPROMS helps process industry companies to maximiseproduct quality, minimise production cost and control environmental impactthrough the use of high-accuracy predictive mathematical models of theirprocesses. It also enables them to innovate much faster, design more efficientprocesses, manage risk closely and integrate R&D and engineering disciplines. gPROMS has successfully entered the worldwide market, with 75% of PSE's revenuescoming from exports. The company's client base includes more than 60 of theworld's leading process industry companies, about 75% of which are Fortune 500organisations. gPROMS is also being used for teaching and research by more than200 universities worldwide. The company was formed in 1997 and is based on technology arising from theresearch of Professor Costas Pantelides and colleagues from the Centre forProcess Systems Engineering at Imperial College London. It is now part of theportfolio of Imperial Innovations. Prof. Costas Pantelides, MD of PSE, said, "We are delighted and honoured to havewon the MacRobert Award. As a company that not only innovates but also helpsothers to innovate, we value this recognition highly." Susan Searle, CEO of Imperial Innovations, said, "We are very pleased that PSEhas won the MacRobert award. This is validation of the significance of thecompany and its innovative technology". -Ends- For more information contact: Imperial InnovationsSusan Searle, Chief Executive Officer +44 (0)20 7594 6591Lucy Ahfong, Marketing Communications Executive +44 (0)20 7594 6644 M:CommunicationsEleanor Williamson +44 (0)20 7153 1539 JP Morgan Cazenove Steve Baldwin +44 (0)20 7588 2828 Notes to Editors About Imperial Innovations Imperial Innovations is one of the UK's leading technology transfer andcommercialisation companies. The company was founded in 1986 and its ordinaryshares admitted to trading on the AIM Market of London Stock Exchange plc inJuly 2006, raising £26 million. The company's integrated approach encompassesthe identification of ideas, protection of intellectual property, developmentand licensing of technology and formation, incubation and investment intechnology businesses. A wide range of technologies are commercialised withinthe areas of healthcare, energy, environment and emerging technology trends. Based at Imperial College London, the company has established equity holdings in70 technology businesses and has completed 116 commercial agreements. ImperialInnovations also commercialises technologies originating from outside ImperialCollege through incubation contracts with the Carbon Trust and WRAP and hasrelationships with a number of multinational corporations including BAE Systems. Imperial Innovations has invested in a range of spin-out companies, includingThe Acrobot Company Limited, BioCeramic Therapeutics Limited, Cardiak Limited,Circassia Holdings Limited, deltaDOT Limited, Equinox Pharma Limited, FutureWaves PTE Limited, HeliSwirl Technologies Limited, InforSense Limited, IXICOLimited, Lontra Limited, Midaz Lasers Limited, NanoBioDesign Limited, NexeonLimited, NovaThera Limited, Thiakis Limited and Veryan Medical Limited. Imperial Innovations currently holds shares in four technology businesses nowlisted on AIM including the fuel cell company, Ceres Power plc. www.imperialinnovations.co.uk About Process Systems Enterprise Ltd PSE is one of the world's foremost providers of Advanced Process Modellingsoftware and Model-Based Innovation services to the process manufacturingindustries. These apply high-accuracy mathematical models of process equipmentand phenomena to provide high-quality information for decision support inprocess innovation, design and operation. Use of PSE's technology and services results in faster innovation, improveddesigns of processes and products, enhancement of existing operations and moreeffective R&D and experimental programmes. Results are achieved with relativelylow investment compared to alternative approaches - where these exist - withrapid return on investment and transfer of modelling know-how to industry. PSE's global customer base of process manufacturing companies and theirtechnology suppliers is served by offices in the UK, USA, Germany and Japan, andagencies in China, India and Korea. www.psenterprise.com About gPROMS gPROMS(R) is the world's leading Advanced Process Modelling (APM) environment.It is used to provide high-quality information for decision support ininnovation, design and operation across all sectors of the process industries,with particular focus on modelling of complex operations such as reaction,crystallisation and polymerisation. Companies apply gPROMS to reduce time-to-market for new processes or products,improve designs, enhance production, reduce capital and operating expenditureand comply more effectively with safety, health and environmental requirements. gPROMS is applied across the 'process lifecycle', from laboratoryexperimentation, through process and detailed design, to online operation, andis central to the emerging technology of Model-Based Innovation. PSE iscommitted to maintaining gPROMS at the leading edge of modelling technology. About the MacRobert Award The MacRobert Award, first presented in 1969, honours the winning company with agold medal and the team members with a prize of £50,000. The presentation of theaward recognises the successful development of innovative ideas in engineering.It seeks to demonstrate the importance of engineering and the role of engineersand scientists in contributing to national prosperity and internationalprestige. Originally founded by the MacRobert Trusts, the award is now presented by TheRoyal Academy of Engineering, a prize fund having been established withdonations from the MacRobert Trusts, The Royal Academy of Engineering andBritish industry. http://www.raeng.org.uk/prizes/macrobert/ This information is provided by RNS The company news service from the London Stock Exchange