RCS - Frontier IP Group - Celerum supports development for PlanSea Solutions

Frontier IPAnnouncement

07/07/2020 07:00

RNS Number : 1824S
  
Frontier IP Group plc
  
07 July 2020
  
 

RNS Reach
AIM: FIPP
07 July 2020 
 
Frontier IP Group Plc
("Frontier IP" or the "Group")
 
Portfolio news - Celerum to support software development for PlanSea Solutions Limited. 
Frontier IP, a specialist in commercialising intellectual property, today announces that portfolio company Celerum Limited ("Celerum") has been sub-contracted to support software development for Aberdeen-based PlanSea Solutions Limited ("PlanSea"). 
Frontier IP holds a 33.8 per cent equity stake in Celerum.
The work builds on approaches proven in a number of projects undertaken by Celerum founder Professor John McCall, former Head of the School of Computing, Science and Digital Media at RGU. 
Professor McCall has more than 25 years research experience in nature-inspired computing ("NIC"). NIC looks to develop new software and AI algorithms based on natural processes and behaviours. The technology also has the potential to tackle a host of other complex scientific, engineering and industrial challenges. They include applications developed for the transport and the telecommunications sector.
Other examples of NIC include particle swarm optimisation, based on how birds and fish behave in flocks and schools, and genetic algorithms, software techniques based on natural selection and evolutionary genetics. 
PlanSea co-founder and CEO Jim Cargill said: "Innovation and new technology has a key part to play in the next chapter of our industry's future. We are looking forward to working with Celerum as one of our key service providers to deliver this important project for the sector."
 
 
Frontier IP Chief Executive Officer Neil Crabb said: "Industry engagement is a vital part of how we work with our portfolio companies, so we are delighted Celerum is involved in this important partnership with PlanSea."  
ENQUIRIES



Frontier IP Group Plc


T: 020 7332 2338




Neil Crabb, Chief Executive neil@frontierip.co.uk


neil@frontierip.co.uk 




Andrew Johnson, Communications and Investor Relations


M: 07464 546 025




Group website: www.frontierip.co.uk








Allenby Capital Limited (Nominated Adviser)


T: 0203 328 5656




Nick Athanas / Nicholas Chambers







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.
ABOUT PLANSEA SOLUTIONS LIMITED ("PSS")
 
PSS is a spin-out company from Robert Gordon University and holds the exclusive licence for the offshore vessel optimisation algorithms. PSS was established in 2017 specifically to focus on providing operational management control, fleet optimisation and vessel scheduling software for the offshore oil and gas marine support sector both in the UK and internationally.
 
For more information on PlanSea Solutions Limited visit www.plansea.co.uk or contact Jim Cargill jim@plansea.co.uk or on 07514088766
 
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