18th Sep 2018 09:53
LONDON (Alliance News) - Intellectual property commercialisation firm Allied Minds PLC said Tuesday it formed a new unit called QuayChain to build connected digital infrastructure in transport hubs such as ports, rail and airports.
Simon Davidson, executive vice president of technology investments at Allied Minds, said: "We are excited to announce the formation of QuayChain. Smart Industrial Hubs have the potential to generate substantial efficiencies in supply chain management.
"We are well placed to execute given our expertise and network in next generation connectivity, gleaned in particular from our investment in Federated Wireless."
Federal Wireless pioneered technology for sharing citizens broadband radio service spectrum, which will by used by QuayChain.
Davidson will serve as interim president of QuayChain until an executive team is recruited. While Iyad Tarazi, chief executive officer of Federated Wireless, and logistics industry vetran Andrew Scott will be independent directors of the new firm.
Allied Minds shares were trading up 1.5% at 74.40 pence each.
Related Shares:
ALM.L