Frontier IP Group Plc (LON:FIPP) is taking a 25% stake in Des Solutio, a green chemical products firm as part of a spin-out process.
The intellectual property (IP) commercialisation firm said Des Solutio’s research had already attracted interest from several groups including major cosmetic and pharmaceutical firms, with Frontier providing contract negotiation and other commercial services in return for its stake in the company.
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Des Solutio develops usage methods for Natural Deep Eutectic Solvents (NADES), naturally-derived replacements for toxic organic solvents such as ethanol which is currently used in a wide range of industries to extract natural ingredients from plants.
The technology has been developed from the research of Associate Professor Ana Rita Duarte and Dr Alexandre Paiva of NOVA University Lisbon.
The company is Frontier’s second spin out in Portugal, having previously spun out paper electronics firm NTPE in August.
Neil Crabb, chief executive of Frontier, said the spin out was a sign of the company’s “growing strength” in Portugal.