RCS - Frontier IP Group - Portfolio – GraphEnergyTech £1 million investment

Frontier IPAnnouncement

05/08/2024 07:00

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RNS Number : 0296Z  Frontier IP Group plc  05 August 2024

Reach - a non-regulatory announcement

AIM: FIPP

05 August  2024

 

Frontier IP Group Plc

("Frontier IP" or the "Group")

 

 

Portfolio news - GraphEnergyTech secures £1 million pre-seed investment led
by Aramco Ventures

 

 

Frontier IP, a specialist in commercialising intellectual property, today
announces that portfolio company GraphEnergyTech (or the "Company") has raised
£1 million through the Company's first external equity funding round.

 

The fundraising was led by Aramco Ventures, the corporate venturing arm of
Aramco, the world's leading integrated energy and chemicals company. Frontier
IP, a GraphEnergyTech co-founder, now holds a 23.97 per cent equity stake.

 

Proceeds will be used to accelerate development and scale up of
GraphEnergyTech's advanced high-conductivity graphene electrodes.

 

The technology's initial application is for use in solar cells, where graphene
can replace silver electrodes. 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. GraphEnergyTech's electrodes also cost significantly less to manufacture
than silver electrodes.

 

Other applications for GraphEnergyTech's technology include 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.

 

Dr Thomas Baumeler, GraphEnergyTech's CEO, said: "We are very happy with the
results of the fundraising and the investment from Aramco Ventures. The money
will allow us to take development of our advanced graphene electrodes to the
next level. They have the potential to play a part in the development of the
next generation of solar cells."

 

Frontier IP Chief Executive Neil Crabb said: "The investment from Aramco
Ventures, a world leader in energy investments, represents a strong
endorsement of GraphEnergyTech's technology and the quality of its electrodes.
We are excited by the Company's potential."

 

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 Aramco Ventures

 

Aramco Ventures is the corporate venturing arm of Aramco, the world's leading
fully integrated energy and chemical enterprise. Headquartered in Dhahran
with offices in North America, Europe and Asia, Aramco Ventures' strategic
venturing programs invest globally in start-up and high growth companies with
technologies of strategic importance to its parent company, Aramco, primarily
supporting its operational decarbonization, new lower-carbon fuels businesses,
and digital transformation initiatives. Aramco Ventures also operates
Prosperity7, the company's disruptive technologies investment program.

 

For more information, please visit www.aramcoventures.com
(http://www.aramcoventures.com)

 

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 is now working 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 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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