Frontier IP Group PLC’s (LON:FIPP) said its portfolio firm, Alusid has launched a new luxury brand of furniture, named Block, incorporating its surfaces made from recycled glass and ceramic waste.
The IP investor said the brand, which has been launched by Alusid through an exclusive Kickstarter campaign and in collaboration with design consultancy Collective HQ, will initially make small-to-medium-sized occasional tables.
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Alusid will manufacture the tabletops while Collective will be responsible for making the bases.
The company also said that Alusid has adapted its technologies for scale-up to mass production on industry-standard tile making equipment, increasing its production capacity from 4,000 square metres a year to 1,000 square metres a day, which it says is “opening up new markets for the company”.
"Alusid has made excellent progress this year, despite the uncertainty and delays caused by the [coronavirus] outbreak”, Frontier IP chief executive Neil Crabb said in a statement.
“It has successfully demonstrated that it can scale up to mass production on industry-standard tile making equipment and has won new customers. This Kickstarter project and Block shows the Company can meet the needs of different markets across a number of different price points", he added.
Shares in Frontier IP were steady at 65.5p in early deals on Thursday.