Frontier IP Group PLC (LON:FIPP) said its portfolio firm AquaInSilico has won a €60,000 EIT RawMaterials grant to develop its software designed to optimise wastewater treatment.
The IP investor said the grant from the EU’s European Institute of Innovation and Technology will allow AquaInSilico to build on its collaboration with a leading European environmental, water and waste management group to commercialise its software tools.
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The group’s technology is designed to remove phosphorus from wastewater in a more environmentally friendly and effective way than existing methods, with the recovered phosphorus then sold for use in fertilisers.
"AquaInSilico has been making good progress in collaboration with its industry partners, progress reflected and validated by the award of this grant to commercialise the technology", Frontier IP chief executive Neil Crabb said in a statement.
AquaInSilico is a spin-out from Portugal's NOVA University and is the fourth spin-out resulting from Frontier IP's growing presence in the country.
Shares in Frontier IP were 4.7% higher at 66p in mid-morning trading on Tuesday.
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