Frontier IP Group PLC (LON:FIPP) said its portfolio company, Pulsiv Solar Limited, is continuing to make “strong commercial and technical progress” with its energy efficiency and power generation technology.
The intellectual property (IP) investment firm said Pulsiv has started design work, funded by a major multinational, to incorporate its technology in a new product line, and is also in discussions with a number of other large firms about a range of further industrial applications.
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The investee, in which Frontier owns an 18.9% stake, is also in discussions with investors to raise further funding which, if completed, will be at a “significant premium” to the current book value, which will, in turn, be reflected in Frontier’s results for the year ending June 30, 2020.
Pulsiv has additionally filed two priority patent applications, on top of one filed late last year, meaning it now has eight separate patent families, five of which have been granted, across all major territories worldwide whit it said reflected a “significant amount of development undertaken and the strength of the intellectual property position underpinning it”.
The portfolio group is also working with part of German engineering giant Bosch to optimise the design of its energy-efficient solar microinverter prototype.
"Industry partnerships are vital for validating the technology developed by our portfolio companies and for providing the understanding of the potential markets in which they could operate. The range of businesses Pulsiv is now engaging with gives us high hopes for the future", Frontier IP chief executive Neil Crabb said in a statement.
Shares in Frontier IP rose 5% to 63p in late-morning trading on Monday.
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