CamGraPhIC raises Â£1.6 millionSource: RNS
Reach - a non-regulatory announcement
30 September 2021
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - CamGraPhIC raises £1.6 million to accelerate development of high-speed, low-energy graphene photonics
Frontier IP, a specialist in commercialising intellectual property, today announces that portfolio company CamGraPhIC (the "Company") has raised £1.6 million through an equity funding round from existing and new investors.
The fundraising values University of Cambridge spin out CamGraPhIC at £5.6 million pre-money. It brings total funds raised by the Company to £3.4 million including the loan facility announced by the Group on 8 July 2021. Of the money in the equity funding round, £1.5 million was raised through investment platform Wealth Club.
Frontier IP holds a 20.8 per cent equity stake valued at £1.5 million, holds £1.0 million of loan notes, the terms of which were announced by Frontier IP on 8 July 2021, and has advanced £0.2m under loan agreements entered into in 2019 and 2020.
Proceeds from the funding round will be used to accelerate development and scale up of the CamGraPhIC's graphene-based photonics technology for scalable, faster, cheaper and more energy efficient optical transceivers.
These have the potential to become a core enabling technology for the high-speed data and telecommunications needed for 5G networks and beyond. Current versions of the technology have indicated speeds of up to 100Gbps per lane, operation across multiple wavebands and very low energy loss. Their speed is about twice that achieved in laboratory conditions by equivalent technologies, while they consume at least 75 per cent less energy.
The underlying graphene-photonics technology, which has a host of further applications, is being developed under licence from the University of Cambridge.
Paul Mantle, Chief Executive Officer, CamGraPhIC, said: "CamGraPhIC has the potential to meet the challenge of two pressing global issues facing the data and telecommunication industries. Lab tests have underlined just how much quicker the technology is than those currently available - up to twice as fast. By cutting the amount of energy used by optical transceivers by at least 75 per cent, CamGraPhIC could play an important part in helping them reduce their carbon emissions."
Neil Crabb, Frontier IP Chief Executive Officer, said: "We believe CamGraPhIC could transform data and telecommunications. The technology it is developing has the potential to become a core enabler of the high-speed networks of the future."
Frontier IP Group Plc
T: 020 7332 2338
Neil Crabb, Chief Executive
Andrew Johnson, Communications & Investor Relations
Company website: www.frontierip.co.uk
M: 07464 546 025
Allenby Capital Limited (Nominated Adviser)
Nick Athanas / George Payne
T: 0203 328 5656
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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