RCS - Frontier IP Group - Pulsiv announces £1.5m fundraise

Frontier IPAnnouncement

08/11/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221108:nRSH5979Fa&default-theme=true

RNS Number : 5979F  Frontier IP Group plc  08 November 2022

Reach - a non-regulatory announcement

AIM: FIPP

08 November 2022

 

Frontier IP Group Plc

("Frontier IP" or the "Group")

 

 

Portfolio news - Pulsiv announces £1.5 million equity funding round

 

Frontier IP, a specialist in commercialising intellectual property, today
welcomes the following announcement from portfolio company Pulsiv Limited (or
the "Company") that it has completed a £1.5 million fundraising through an
equity funding round with new and existing investors to develop and scale up
its energy-efficient power conversion technology.

 

The fundraising values Pulsiv at £50 million pre money. Frontier IP invested
£273,000, and holds an 18.3 per cent equity stake in the Company following
this.

 

As previously announced by the Group, Pulsiv completed a first closing of its
fundraising in July 2022. The increase in the fair value of the Group's
holding in Pulsiv as a result of the fundraising was reflected in Frontier
IP's audited final results which were released on 27 October 2022.

 

Pulsiv believes its groundbreaking technology significantly improves the
energy efficiency of power supplies, battery chargers and LED lighting, and
extracts much more energy from photovoltaic solar cells. Because it uses fewer
components, it can be incorporated into more compact designs and is cost
effective for manufacturers.

 

The Company has made strong commercial progress. It has recently announced a
collaboration with Salom Europe, a leading manufacturer of power supplies for
consumer electronics. Pulsiv has also signed strategic distribution agreements
with Digikey, the world's fifth largest electronic components distributor, and
Astute Electronics, which will promote the technology to manufacturers in the
UK, Germany, Israel, Turkey and Australia. The Company has also announced a
pan-European representative agreement with ISMOsys Group, part of Astute.

 

 

Neil Crabb, Frontier IP Chief Executive Officer, said: "We believe Pulsiv will
become a major green company. Converting power more efficiently means less
energy is wasted, so the technology has the potential to cut carbon emissions,
reduce strain on national power grids and cut energy bills for consumers. We
are delighted with the results of this funding round. "

 

Pulsiv statement begins:

 

 

Pulsiv raises £1.5m in latest funding round

Cambridge 08 November 2022

Pulsiv Limited ("Pulsiv"), a UK-based cleantech company announces that it has
raised £1.5m through an equity funding round supported by existing
shareholders, including management and Frontier IP Group plc (a founder of the
business), and new angel investors. The round remains open.

Pulsiv's unique technology aims to conserve every watt of power that needs
converting when consumer devices are run from a mains supply, when batteries
are being charged, when LED lights are illuminated or when electricity is
generated from solar panels.

Products under the Pulsiv OSMIUM brand are designed for always-efficient power
supplies. Pulsiv HORIZON technology has been developed for advanced solar
micro-inverters and power optimizers. The company sells a range of system
controllers that intelligently manage power conversion. Our proven reference
designs will enable seamless integration by OEMs and accelerate industry
adoption.

The Pulsiv OSMIUM architecture can be used in a broad range of OEM products
that demand high efficiency, compact design and a low-cost bill of materials.
Pulsiv OSMIUM technology exceeds the highest Energy Star standards, eliminates
inrush current, reduces overall component cost/count and delivers consistent
performance from no-load through to full power. Our scalable solution promotes
a platform approach and economies of scale - most components remain unchanged
across different designs.

Pulsiv HORIZON employs patented methods for extracting more energy from solar
panels than alternative solutions, and our innovative prototype uses a unique
split architecture to maximize the power generated by solar micro-inverters
and power optimizers under all operating conditions. Standard reference
designs will create greater competition, ensuring that future solar
installations will generate maximum returns and accelerate the transition
towards renewable energy.

The investment raised during this round supports the commercialization of
Pulsiv OSMIUM and the ongoing development of Pulsiv HORIZON:

-     Pulsiv OSMIUM development systems are currently being manufactured
to support customer evaluations and product integration.

-     Pulsiv OSMIUM reference designs will simplify the customer journey
and drive mass-market adoption.

-     Pulsiv HORIZON reference designs will demonstrate our new
architecture for power optimiser and microinverters with best-on-class CEC/EU
efficiency and power delivery.

Pulsiv's original concept for more efficient power conversion between AC and
DC was developed  by Zaki Ahmed and spun-out of the University of Plymouth.
It is protected through multiple patent families and trademarks.

A global energy transition is underway to phase out fossil fuels and reduce
greenhouse gas emissions. IRENA (International Renewal Energy Agency) reports
that 90% of the required carbon reductions can be achieved by switching to
renewable energy sources and implementing a range of efficiency measures.
Rising energy prices, concerns about energy security and inflationary
pressures are also driving the need for Pulsiv technology.

Pulsiv CEO Darrel Kingham commented:

"We are delighted to have secured this funding given the challenging
fundraising environment and full credit goes to my leadership team and our
strategic partners. This shows confidence in our progress over the last 18
months, with Pulsiv OSMIUM far exceeding the original design goals and the
Pulsiv HORIZON prototype producing best-in-class results.  The many benefits
of our technology will challenge conventional thinking and give customers an
opportunity to differentiate their products in a number of markets."

 

Pulsiv statement ends

 

 

 

 

 

 

 

 

 

 

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 pulsiv

Pulsiv's unique technology is enabling the electronics industry to create
innovative power supply designs and best-in-class solar solutions. Using
patented techniques, our intelligent controllers and supporting reference
designs improve efficiency, optimize cost and maximize system performance.

We're helping the global transition to renewable energy and improving power
consumption for a more sustainable future.

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 Reach announcements

This is a Reach announcement. Reach is an investor communication service
aimed at assisting listed and unlisted (including AIM quoted) companies
to distribute media only / non-regulatory news releases into the public
domain. Information required to be notified under the AIM Rules for
Companies, Market Abuse Regulation or other regulation would be disseminated
as an RNS regulatory announcement and not on Reach.

 

 

 

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAEANFXESLAFFA