8th Jul 2021 15:16
Frontier IP Group PLC - London-based intellectual property commercialisation firm - Says portfolio company CamGraPhIC Ltd has agreed to a GBP1.5 million loan facility to accelerate its growth. Alongside the loan facility Frontier IP has subscribed to GBP842,810 in interest-bearing loan notes with a three-year term. The loan notes amount to the sum granted by Frontier IP to CamGraphIC between January 13 and June 24. To date Frontier IP has advanced GBP1.1 million to CamGraphIC.
Frontier holds a 27% stake in CamGraphIC, which aims to commercialise research from the University of Cambridge into graphene photonics technology, for high-speed data and telecommunications such as developing more efficient photonic chips for for data conversion and use with 5G technologies. Graphene is material that takes the form of a two dimensional hexagonal lattice of carbon atoms, which conducts heat and electricity very efficiently.
The company says: "CamGraphIC is making good progress both in executing its business plan and raising a larger equity funding round, having recently completed its first equity fundraising of GBP608,985 in June this year. The Covid-19 pandemic has highlighted the increasing need for robust data infrastructure and communications, emphasising the relevance of the [CamGraphIC]'s technology."
Current stock price: 100.94 pence, down 1.0% on Thursday afternoon
Year-to-date change: up 53%
By Scarlett Butler; [email protected]
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