Frontier IP Group PLC (LON:FIPP) said its portfolio group, Pulsiv, has completed a fundraising and appointed a chief executive officer.
The AIM-listed specialist in commercialising intellectual property (IP) said Darrel Kingham has been appointed as chief executive of Pulsiv, a power conversion technology company.
Kingham, an electrical engineer, has previously held several senior roles at Arm Ltd, the British computer chip designer, and joins Pulsiv from Aixtron, where he was general manager.
Furthermore, associate professor Dr Zaki Ahmed has given up his post at the University of Plymouth to become chief strategy officer at Pulsiv while Tim Moore, an executive vice-president of Shark Robotics, has been appointed to the board of directors at Pulsiv as a non-executive director.
Pulsiv, which has shortened its name from Pulsiv Solar, has completed the second tranche of its equity funding round, raising a further £620,000, to bring the total of new money raised to £1.5mln.
"We are delighted to have attracted someone of Darrel's calibre as chief executive of Pulsiv. The company is now at an important stage and we believe Darrel is the right person to take it forward through the next phase of its development. Tim's deep understanding of the electronics industry will also prove invaluable to the company as it develops,” said Neil Crabb, the chief executive of Frontier IP.
Dr Tim Moore said Pulsiv's technology has the potential to make a difference across a wide range of electrical applications. Pulsiv, a spin-out from the University of Plymouth, has developed technology that improves power output and electricity conversion efficiency.