1st Oct 2021 07:35
Frontier IP Group PLC - London-based intellectual property commercialisation company - Portfolio company CamGraPhIC raises GBP1.6 million to accelerate development of high-speed, low-energy graphene photonics. Notes that GBP1.5 million of the fundraise was through investment platform Wealth Club. Share sale values University of Cambridge spin out CamGraPhIC at GBP5.6 million pre-money. Brings total funds raised by CamGraPhIC to GBP3.4 million, including its loan facility. Frontier IP holds 21% stake in CamGraPhIC valued at GBP1.5 million, plus GBP1.0 million in loan notes.
CamGraPhIC Chief Executive Officer Paul Mantle says: "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."
Frontier IP current stock price: 110.95 pence
Year-to-date change: up 68%
By Scarlett Butler; [email protected]
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