Frontier IP Group plc CamGraPhIC raises GBP1.6 million
30 Septiembre 2021 - 1:00AM
RNS Non-Regulatory
TIDMFIPP
Frontier IP Group plc
30 September 2021
Reach - a non-regulatory announcement
AIM: FIPP
30 September 2021
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - CamGraPhIC raises GBP1.6 million to accelerate
development of high-speed, low-energy graphene photonics
Frontier IP, a specialist in commercialising intellectual
property, today announces that portfolio company CamGraPhIC (the
"Company") has raised GBP1.6 million through an equity funding
round from existing and new investors.
The fundraising values University of Cambridge spin out
CamGraPhIC at GBP5.6 million pre-money. It brings total funds
raised by the Company to GBP3.4 million including the loan facility
announced by the Group on 8 July 2021. Of the money in the equity
funding round, GBP1.5 million was raised through investment
platform Wealth Club.
Frontier IP holds a 20.8 per cent equity stake valued at GBP1.5
million, holds GBP1.0 million of loan notes, the terms of which
were announced by Frontier IP on 8 July 2021, and has advanced
GBP0.2m under loan agreements entered into in 2019 and 2020.
Proceeds from the funding round will be used to accelerate
development and scale up of the CamGraPhIC's graphene-based
photonics technology for scalable, faster, cheaper and more energy
efficient optical transceivers.
These have the potential to become a core enabling technology
for the high-speed data and telecommunications needed for 5G
networks and beyond. Current versions of the technology have
indicated speeds of up to 100Gbps per lane, operation across
multiple wavebands and very low energy loss. Their speed is about
twice that achieved in laboratory conditions by equivalent
technologies, while they consume at least 75 per cent less
energy.
The underlying graphene-photonics technology, which has a host
of further applications, is being developed under licence from the
University of Cambridge.
Paul Mantle, Chief Executive Officer, CamGraPhIC, said:
"CamGraPhIC has the potential to meet the challenge of two pressing
global issues facing the data and telecommunication industries. Lab
tests have underlined just how much quicker the technology is than
those currently available - up to twice as fast. By cutting the
amount of energy used by optical transceivers by at least 75 per
cent, CamGraPhIC could play an important part in helping them
reduce their carbon emissions."
Neil Crabb, Frontier IP Chief Executive Officer, said: "We
believe CamGraPhIC could transform data and telecommunications. The
technology it is developing has the potential to become a core
enabler of the high-speed networks of the future."
ENQUIRIES
Frontier IP Group Plc T: 020 7332 2338
Neil Crabb, Chief Executive neil@frontierip.co.uk
Andrew Johnson, Communications & Investor M: 07464 546 025
Relations
andrew.johnson@frontierip.co.uk
Company website: www.frontierip.co.uk
Allenby Capital Limited (Nominated Adviser) T: 0203 328 5656
Nick Athanas / George Payne
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 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.
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