Frontier IP Group PLC (LON:FIPP) said its portfolio company AquaInSilico, in which it owns a 29% stake, will receive a US$250,000 grant as an Ocean Innovator through the United Nations Development Programme’s Ocean Innovation Challenge.
The intellectual property investor said the two-year project, which will help protect and conserve the coastal marine environment around the Cape Verde archipelago in West Africa, will see AquaInSilico use its digital tools to design and implement improvements to wastewater treatment plants on the islands to reduce the amount of nutrients, such as nitrogen and phosphorus, entering the sea, and to improve the quality of water provided to Cape Verde's population.
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Frontier said the selection of AquaInSilico for the UN programme represented an “important validation” of its technology, which uses a mathematically modelled biological approach to improve phosphorus removal based on deep understanding and controlling the operating variables that result from biological and chemical processes, often allowing it to detect problems before they can be diagnosed by humans.
"We are delighted AquaInSilico is involved in this important United Nations Development Programme to conserve the marine environment around Cape Verde. The grant award represents a strong validation of the company's technology and the progress it has made”, Frontier IP chief executive Neil Crabb said in a statement.
Frontier shares were up 0.2% at 68.1p in early trading on Tuesday.