Geomerics - New Venture Co.

6 May 2005 07:00

Angle PLC06 May 2005 For Immediate Release 6 May 2005 ANGLE plc GEOMERICS: NEW VENTURE COMPANY ANGLE plc ("ANGLE"), the venture management and consulting company specialisingin the commercialisation of technology, is pleased to announce the launch of itslatest venture company, Geomerics Ltd ('Geomerics'). Geomerics has secured intellectual property in the field of geometric algebra.Geometric Algebra is a powerful new form of mathematics that vastly simplifiescomplex geometric calculations. Geometric Algebra has its origins in the ratheresoteric academic discipline of theoretical cosmology, but it has now beendeveloped for application in a wide variety of disparate commercial applicationssuch as computer graphics in computer games and electromagnetic modelling whichis used, amongst other things, for optimising the design of mobile phoneantennas and reducing the radar signature of ships and planes. One of the main differentiators between computer games is the speed and qualityof rendering of the graphics. With best-selling games generating severalhundred million dollars for their developers, the quest for better and fastergraphics engines is relentless. Geomerics' technology provides a step-changeimprovement over the competition, and is set to revolutionise the market.Overall the market for computer games is currently worth more than $30bn andgrowing rapidly, and the market for graphics within these games is worth over$600m per year. Current electromagnetic modelling techniques do not give the accuracy requiredin many applications, because the processing power required is prohibitive.Geomerics' technology has already been used to resolve complex electromagneticmodelling problems that rival systems have been unable to solve. Theelectromagnetic modelling market is worth in excess of $100m per year and thereis also considerable latent demand. This new approach in applying geometric algebra has been developed by a group offour leading academics from the University of Cambridge: Professor AnthonyLasenby (Professor of Astrophysics and Cosmology), Dr Mike Hobson (UniversityReader in Astrophysics), Dr Chris Doran (EPSRC Advanced Research Fellow) and DrJoan Lasenby (Lecturer in Engineering). Geomerics has also engaged ProfessorDavid Hestenes of Arizona State University (the original inventor of geometricalgebra) and Professor Alyn Rockwood of Colorado School of Mines (a geometricalgebra and computer graphics expert) in an advisory capacity. In accordance with ANGLE's Progeny(R) process for creating new ventures, ANGLE'splan is to build a strong commercial offering in each of the key marketssequentially, seeking a return on its investment in the medium term.Simultaneously, development work will continue on the geometric algebraplatform. ANGLE expects to spend up to £500,000 in the Progeny(R) venture, whichis presently wholly owned by ANGLE. Commenting on the collaboration with ANGLE, Professor Lasenby said: 'We have been developing the mathematics and technology behind Geomerics for anumber of years, and now is the perfect time to apply it to commercialapplications. We are delighted that ANGLE will be commercialising ourtechnology.' ANGLE's Chief Executive Andrew Newland said: 'Computer graphics and electromagnetic modelling are large, growing markets.Geomerics' technology is truly leading-edge and we believe it will revolutionisea wide range of fields. We are delighted to be working with such a high calibreof academic inventors.' For further information: ANGLE plcAndrew Newland, Chief Executive 01483 295830Stephen Bence, Associate Director - Ventures UK 01223 472745 Buchanan Communications 020 7466 5000Richard Darby, Suzanne Brocks Notes to Editors Founded in 1994, ANGLE is an international venture management and consultingcompany focusing on the commercialisation of technology and the development oftechnology-based industry. ANGLE creates, develops and advises technologybusinesses on its own behalf and for its clients. This information is provided by RNS The company news service from the London Stock Exchange