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IP Group invests in new technology uni spin-outs

IP Group invests in new technology uni spin-outs

Intellectual property commercialisation specialist IP Group (LON:IPO) has invested in a clean-tech business which has been spun out of the University of Cambridge. Amantys Ltd is developing new technology to improve the efficiency, reliability and the cost of wind turbine converters.

"We are very pleased to have completed this investment in Amantys, our first investment in a spin-out from the University of Cambridge”, IP Group chief executive Alan Aubrey commented. “We believe [that Amantys] has very exciting technology addressing a large market and is supported by a strong management team."

The IP investment company highlighted that Amantys' technology is based on Dr Patrick Palmer’s award-winning research and development work, and it is being led by an experienced ‘strong management team’ who have previously held senior positions at ARM Holdings (LON:ARM).

Amantys chairman Pete Magowan, was a previously a director of ARM, and Amantys MD Bryn Parry and Technical Director Mark Snook have also held senior management roles at ARM.

In a separate statement, IP Group announced another investment in Chamelic, a chemical products company which spun-out of the University of Leeds. The company participated in a £1m funding round alongside the investment arm of major agribusiness Syngenta, and members of the Chamelic mananement team.

The IP Group invested in the business both directly, and through its managed venture capital fund, the IP Venture Fund.

Chamelic has developed an invisible 'stay clean' surface treatment, which prevents the build up of dirt and dust on a wide range of surfaces.

“The treatment is invisible, easy to apply and reduces the amount of cleaning required. The hydrophilic nature of the surface treatment means that any dirt or dust is rinsed away easily and prevents the formation of drying marks on the surface while also being anti-fogging”, the IP Group stated.

This initial product is being sold for a bespoke application that “eliminates the need to replace glazing products” and according to the IP Group, it is proven to deliver cost savings and environmental benefits to its customers. 

The fundraising will support the development and launch additional products to provide efficiency, maintenance and cosmetic benefits across agricultural applications, solar panels, vehicles, household care products and architectural applications.

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IP Group Plc Timeline

Newswire
December 12 2016

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