RCS - Frontier IP Group - Deakin Bio-Hybrid Materials raises £693,000

Frontier IPAnnouncement

23/09/2024 07:00

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RNS Number : 1127F  Frontier IP Group plc  23 September 2024

Reach - a non-regulatory announcement

AIM: FIPP

23 September 2024

 

Frontier IP Group Plc

("Frontier IP" or the "Group")

 

 

Portfolio news - Deakin Bio-Hybrid Materials raises £693,000 through initial
equity funding round

 

Frontier IP, a specialist in commercialising intellectual property, today
announces that portfolio company Deakin Bio-Hybrid Materials Limited
("DeakinBio" or the "Company") has raised £693,000 through an oversubscribed
equity funding round.

 

The proceeds will be used to accelerate development and scale up of the
Company's low-energy processes to produce advanced bio-based materials as
sustainable alternatives to ceramics. The fundraising valued DeakinBio at
£2.69 million post money. Following completion of the funding round,
 Frontier IP holds a 24.8 per cent equity stake in DeakinBio.

 

The fundraising was led by Green Angel Ventures, which is one of the UK's
leading specialists in early-stage climate related technology innovation
investments.  The syndicate provides excellent access to added value that an
investor can offer to an early stage or start-up company in this field.

 

DeakinBio's technology creates composites by recycling organic waste such as
chickpea broth or algae mixed with widely available waste minerals, such as
crushed limestone. The resulting materials look, feel and behave like
ceramics, but do not need to be fired or glazed at high temperatures. The
technology can be used on existing mass-manufacturing equipment.

 

Initial applications are to provide alternatives to decorative ceramic tiles,
helping to address the industry's significant challenges with high energy
prices and tighter emission regulations. Eliminating the energy consumption
and emissions associated with firing and using recycled materials reduces the
carbon footprint and reduces water consumption.

 

DeakinBio's solution has a carbon footprint 94 per cent. lower than
conventional tiles made on the same equipment and creates products with more
than 95 per cent. recycled content.

 

Further applications for DeakinBio's materials include a wide range of moulded
ceramic like materials.

 

The Company was founded by Chief Executive Officer, Dr Aled Roberts, who holds
a PhD in materials chemistry from the University of Liverpool.

 

Cam Ross, CEO of Green Angel Ventures, said: "We are delighted to complete
this investment in DeakinBio.  The commitment of our syndicate to
ground-breaking innovations in carbon reducing technologies is exemplified in
the process being introduced by DeakinBio.  It manages to recalibrate the
entire production model into a circular system while also cutting carbon
emissions."

 

 

Dr Aled Roberts, DeakinBio CEO, said: "We are excited to complete the
investment round with Green Angel Ventures.  The money will allow us to scale
up production with a tile manufacturer and begin commercial sales."

 

Frontier IP Chief Executive Neil Crabb said: "The investment from Green Angel
Ventures, a strong supporter of early-stage UK based climate tech, represents
a clear endorsement of DeakinBio's proposition and the rapid rate of
development of the technology. We look forward to seeing commercial sales and
production."

 

 

 

ENQUIRIES

 

 

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

 Andrew Johnson, Communications & Investor Relations                    M: 07464 546 025

 Company website: www.frontierip.co.uk (http://www.frontierip.co.uk/)
 Allenby Capital Limited (Nominated Adviser)                            T: 0203 328 5656

 Nick Athanas / George Payne

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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