Frontier IP Group PLC (LON:FIPP) has announced its first Portuguese spin out, NTPE, a company that is developing technology to print electronics on paper.
The AIM-listed investment firm, which specialises in commercialising university technology, said it would take a 31.8% stake in NTPE, whose Paper-E technology replaces the silicon in electronics with eco-friendly metal oxides and cellulose, to create "inks" that can be used in specially adapted printers.
WATCH: Frontier IP announces first Portugese spin out with paper electronics company
These inks can then be used to print electronic circuits, sensors and semiconductors onto any cellulose-based paper and have a wide range of applications, including paper-based diagnostic kits, smart packaging, logistics, and fraud prevention through the replacement of microchips.
NTPE is the product of Frontier’s formal relationship with the Universidade Nova de Lisboa Faculty of Science and Technology and had been created to develop and commercialise the work of a team led by Professors Rodrigo Martins and Elvira Fortunato.
Neil Crabb, chief executive of Frontier IP, said the Paper-E technology had already attracted “strong interest” from a wide range of potential partners, and that the company was pleased to take a stake in the development of a “ground-breaking technology”.
The announcement follows news last week that Frontier had partnered with the UK’s Department for International Trade to expand its presence in Portugal.
In mid-morning trading Tuesday, Frontier IP shares were up 3.4% at 75.5p.
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