RCS - Frontier IP Group - GraphEnergyTech collaboration & Innovate UK grant

Frontier IPAnnouncement

25/02/2025 07:00

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RNS Number : 2831Y  Frontier IP Group plc  25 February 2025

Reach - a non-regulatory announcement

AIM: FIPP

25 February 2025

 

Frontier IP Group Plc

("Frontier IP" or the "Group")

 

 

Portfolio news - GraphEnergyTech enters collaboration with Taiwanese partners
and Cambridge University in project backed by Innovate UK

 

 

Frontier IP, a specialist in commercialising intellectual property, today
announces the following developments at portfolio company GraphEnergyTech (or
the "Company"):

 

·    that it has entered into a collaboration with the Taiwan Perovskite
Solar Corporation, Taiwan's prestigious Industrial Technology Research
Institute, and the University of Cambridge to drive development of the next
generation of solar technology; and

·    that the project the four organisations have formed, called Graphene
Electrode Technology for Perovskite Solar Cells (or "GETPSC"), has secured a
£884,129 grant from Innovate UK.

The four partners will work together to advance solar technology by developing
commercial perovskite solar modules, based on Taiwan Perovskite Solar
Corporation's technology, integrating GraphEnergyTech's graphene electrodes.

 

The electrodes will be based on the Company's proprietary technology to
replace the metal electrodes currently used in nearly all solar cells.
Innovate UK's grant funding is split, with £591,250 assigned to
GraphEnergyTech, and the remaining £292,879 to the University of Cambridge.

 

Frontier IP holds a 23.97 per cent equity stake in GraphEnergyTech.

 

Graphene is more cost-effective and sustainable than metal electrodes and
offers better chemical stability. In addition, the University of New South
Wales has warned that the growth in solar installations globally threatens to
exhaust known resources of silver, the most widely used metal for electrodes,
by 2050.

 

Perovskite-based solar technologies match the efficiency of the silicon-solar
cells which dominate the market today and have the potential to surpass them.
However, they are more vulnerable to environmental degradation, because of the
poor stability of metallic electrodes in relation to the perovskite solar
material. GETPSC's main focus is to improve the reliability of the perovskite
solar cells to make them more viable commercially by replacing unstable metal
electrodes with graphene.

 

Perovskite solar technology also faces challenges in achieving cost-effective
manufacturing at scale, and GETPSC will work with Taiwan's semiconductor
manufacturing industry to help address this issue.

 

The Industrial Technology Research Institute has been credited with driving
the growth of several industries and startups, including semiconductor giants
UMC and TSMC.

 

The project's total value amounts to £1,137,522 in the UK and, in addition to
the £884,129 grant, includes a GraphEnergyTech contribution of £253,393.

 

In 2024 GraphEnergyTech raised £1 million through an investment round led by
Aramco Ventures, the corporate venturing arm of Aramco, the world's leading
integrated energy company.

 

More broadly, GraphEnergyTech's technology promises to make conventional
silicon solar cells cheaper to manufacture by replacing expensive metal
electrodes, particularly those made of silver, with graphene. Silver is the
most commonly used material for electrodes today, but the rising demand for
solar power means global reserves could be exhausted by 2050, according to
research from the University of New South Wales. It is expensive and mining
can cause devastating environmental harm.

 

Other potential applications for GraphEnergyTech's technology include printed
electronics, batteries, super capacitors, LED lighting and displays.

 

The Company was co-founded by Professor Michael Grätzel of the Ecole
Polytechnique Federale de Lausanne ("EPFL"), inventor of the dye-sensitised
solar cell, Professor Andrea Ferrari, founder and director of the University
of Cambridge Graphene Centre, and Frontier IP.  Professor Grätzel is ranked
among the world's most cited scientists across all fields and is behind more
than 120 patents resulting from his research.

 

Chen Lai-Ju, Taiwan Perovskite Solar Corp. Chairman, said: "We are eagerly
anticipating the research and economic value that this project will bring. It
will push the entire world one step closer to achieving zero-carbon
emissions."

 

Dr. Thomas Baumeler, GraphEnergyTech's CEO, said: "We are thrilled to embark
on this ambitious project which not only fosters international collaboration
in renewable energy, but also aligns seamlessly with GraphEnergyTech's vision.
The support from Innovate UK is instrumental in advancing our research and
driving innovative solutions to market."

 

Frontier IP Chief Executive Neil Crabb said: "We are very excited about
GraphEnergyTech's potential and the impact the Company could have on solar
technology. The collaboration with leading Taiwanese organisations and the
support from Innovate UK, provides strong validation for its technology and we
are looking forward to the results of this project."

 

ENQUIRIES

 

 Frontier IP Group Plc                                                  M: 07464 546 025
 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 GraphEnergyTech

GraphEnergyTech has developed and patented a novel process to integrate
graphene electrodes into solar cells replacing silver and other precious
metals while retaining or improving power conversion efficiencies and
reliability. The company works with partners to scale this technology and
bring the cost and performance benefits to all types of solar cells and
beyond.

 

Other potential applications of the technology include printed electronics
batteries, super capacitors, LED lighting and displays.

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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