RCS - Frontier IP Group - Celerum launch first commercial product

Frontier IPAnnouncement

11/01/2022 07:05

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RNS Number : 9908X  Frontier IP Group plc  11 January 2022

Reach - a non-regulatory announcement

AIM: FIPP

11 January 2022

 

Frontier IP Group Plc

("Frontier IP" or the "Group")

 

 

Portfolio news - Celerum reaches significant milestone with launch of first
commercial product

 

Frontier IP, a specialist in commercialising intellectual property, notes the
following announcement that portfolio company Celerum Limited (the "Company")
has launched Truck Logistics System, its  first commercial product using
novel artificial intelligence based on Nature Inspired Computing.

 

The Company has also won a first order from a road haulier for the software.
The product uses artificial intelligence derived from natural processes and
behaviours to maximise resources across logistics networks, cutting costs,
carbon emissions and delivery times. Frontier IP holds a 33.8 per cent equity
stake in Celerum.

 

Neil Crabb, Frontier IP Chief Executive Officer, said:  "The launch of its
first commercial software is an exciting development for Celerum. The need for
companies to maximise the resource efficiency of their supply chains and
logistics has been underlined by recent concerns over lorry driver shortages
in the UK and the pressing need to minimise carbon emissions as part of
initiatives to tackle climate change."

 

 

Celerum statement begins:

 

 

Celerum launches AI-based Truck Logistics System to maximise efficiencies for
small to medium sized fleets

 

 

·    Celerum launches Truck Logistics System to cut road haulage costs,
carbon emissions and delivery times - making logistics faster, greener and
more efficient

 

·    Wins first customer for software using the company's novel artificial
intelligence based on Nature Inspired Computing

 

Celerum today announces the launch of its first commercially available product
based on its novel Nature Inspired Computing (NIC) artificial intelligence to
improve the efficiency of supply chains and logistics. The company's Truck
Logistics System has also won its first customer.

 

Truck Logistics System is aimed at companies operating small to medium-sized
truck fleets, such as road hauliers, suppliers and retailers. Such firms are
still typically dependent on manual processes or Excel spreadsheets to
organise their operations, lacking the resources to develop the bespoke
systems used by bigger companies.

 

Celerum's software is easy to implement. It is cloud based and runs on
standard computers with drivers able to interact with the system via their
smartphones. It allows controllers to plan more effectively and to manage
resources in real time, so they can optimise load capacity, drivers and route
selection in response to changing conditions. As a result, they can cut costs
and carbon emissions. The first customer is a road haulier operating a fleet
of about 75 trucks and 150 trailers in the north of the UK.

 

The technology is based on more than 25 years' research into NIC by Celerum
founder and chairman Professor John McCall, Head of Research at the National
Subsea Centre at Robert Gordon University, Aberdeen.

Nature Inspired Computing creates algorithms using lessons from the natural
world where evolution has overcome inefficiency. For example, bees and ants
are extremely good at finding the best routes to food sources or returning to
their nests.

 

A pilot project including Celerum organised by Highlands and Islands
Enterprise found that NIC-based artificial intelligence cut carbon emissions
by up to 40 per cent across food and drink supply chains when allied to
behavioural changes such as load sharing between producers and hauliers. A
wider ranging follow up project is now being planned.

 

Professor John McCall, Founder and Chairman of Celerum, said: "Truck Logistics
System has the potential to transform operational efficiency for hundreds of
companies currently running their van and truck fleets using manual processes
or spreadsheets. The fact it has already won a customer gives us every hope
for further success. However, TLS is only the first commercial application of
our NIC-based AI and we are confident it will be able to help solve a host of
other supply chain and logistics problems."

 

Celerum statement ends

 

 

 

ENQUIRIES

 

 Frontier IP Group Plc                                                      T: 020 7332 2338
 Neil Crabb, Chief Executive Officer                                        neil@frontierip.co.uk

 Andrew Johnson, Communications and investor relations                      M: 07464 546 025

 andrew.johnson@frontierip.co.uk (mailto:andrew.johnson@frontierip.co.uk)

 Company website: www.frontierip.co.uk (http://www.frontierip.co.uk/)

 Allenby Capital Limited (Nominated Adviser)

 Nick Athanas / George Payne                                                T: 0203 328 5656

ABOUT FRONTIER IP

Frontier IP unites science and commerce by identifying strong intellectual
property and accelerating its development through a range of commercialisation
services. A critical part of the Group's work is involving relevant industry
partners at an early stage of development to ensure technology meets real
world demands and needs.

The Group looks to build and grow a portfolio of equity stakes and licence
income by taking an active involvement in spin-out companies, including
support for fund raising and collaboration with relevant industry partners at
an early stage of development.

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