RCS - Frontier IP Group - UN awards $250,000 grant to AquaInSilico

Frontier IPAnnouncement

09/03/2021 07:00

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RNS Number : 6090R  Frontier IP Group plc  09 March 2021

REACH - non-regulatory announcement

AIM: FIPP

09 March 2021

 

Frontier IP Group Plc

("Frontier IP" or the "Group")

 

 

 

Portfolio news -  United Nations awards $250,000 grant to AquaInSilico to
help protect one of the world's most diverse marine environments

 

 

Frontier IP, a specialist in commercialising intellectual property ("IP"),
today announces that portfolio company AquaInSilico ("AquaInSilico" or the
"Company") has been selected to receive $250,000 as an 'Ocean Innovator'
through the United Nations Development Programme's Ocean Innovation Challenge.
 The two-year project will help protect and conserve the coastal marine
environment around the Cape Verde archipelago, West Africa.

 

AquaInSilico's role in the two-year project, called Phos-Value, will be to use
its digital tools to design and implement improvements to wastewater treatment
plants on the islands to reduce the amount of nutrients, such as nitrogen and
phosphorus, entering the sea, and to improve the quality of water provided to
Cape Verde's population.

 

If nutrient levels are too high in water, it causes excessive growth of algae,
including the growth of nuisance species, in a process called marine
eutrophication. This can result in less sunlight reaching the ocean floor and
reduced oxygen levels, affecting fish, shellfish and plant species. Cape Verde
is widely recognised as one of the most diverse marine environments in the
world, including a globally-important coral reef.

 

AquaInSilico's technology will be used to create wastewater treatment
processes to recycle nutrients as biofertilisers, as well as improving water
quality to the islanders. Partners in the project include a leading wastewater
company with experience in running projects in Cape Verde and other relevant
organisations.

 

The highly competitive selection of Phos-Value as a UNDP Ocean Innovator
represents important validation of the technology being developed by
AquaInSilico, a spin-off of NOVA University Lisbon, NOVA School of Science and
Technology ("FCT NOVA"). The Company received an EIT RawMaterials grant from
the European Union's European Institute of Innovation and Technology last year
to further develop its tools to optimise wastewater treatment.

 

The Company's software uses a mathematically modelled biological approach to
improve phosphorus removal, based on deep understanding and controlling the
operating variables that result from biological and chemical processes.
Because of this, its algorithms can detect problems, often before they can be
diagnosed by humans.

 

As a result, the technology has broad applicability, with the potential to
allow companies, such as oil groups, brewers, pulp, paper, steel makers, food
processing and waste recovery businesses, as well as wastewater treatment
plants, to tune and adapt their treatment systems more effectively. It is
expected to save them up to 25 per cent of their operating costs.

 

 

Frontier IP holds a 29 per cent equity stake in AqualnSilico. The Company was
established to develop and commercialise the research of Dr Jorge Santos, Dr
Mariana Matos and Professor Maria Ascensão Reis of FCT NOVA.  This team had
developed several research projects in environmental and industrial
bioengineering in collaboration with several worldwide industry players.

 

The UNDP Ocean Innovation Challenge was established last year to identify,
finance, advise and mentor innovative, entrepreneurial, and creative
approaches to ocean and coastal restoration and protection.

 

 

AquaInSilico co-founder Dr Jorge Santos said: " Our team is very excited to
be joining the United Nations Development Programme tackling ocean and coastal
restoration and contributing to the sustainable development of the Cape
Verde's wastewater industry with our digital tools and expertise. The motto
for Phos-Value project is: 'Together we can recycle wastewater and nutrients
to save oceans."

 

Frontier IP Chief Executive Officer Neil Crabb said: "We are delighted
AquaInSilico is involved in this important United Nations Development
Programme to conserve the marine environment around Cape Verde. The grant
award represents a strong validation of the Company's technology and the
progress it has made."

 

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 hands-on
commercialisation services. A critical part of the Group's work is involving
relevant industry partners at an early stage of development to ensure
technology is validated and 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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