29th Sep 2006 11:45
Imperial Innovations Group plc29 September 2006 Imperial Innovations Group plc ("Imperial Innovations") Investment in Lontra Limited Imperial Innovations Group plc (AIM: IVO), one of the leading technologytransfer and commercialisation companies in the UK, today announces that it hasinvested £150,000 in environmental technology developer Lontra Limited("Lontra"). This brings the total Imperial Innovations has invested in Lontrathis year to £250,000. NPl Ventures Limited has also invested £150,000, bringingthe seed funding round to a total of £400,000. Lontra has received incubation support from the Imperial Innovations Low CarbonIncubator, a facility co-funded by the Carbon Trust Incubator Programme, and isthe first company that originated from outside Imperial College to receiveImperial Innovations investment Imperial Innovations has also assisted Lontra in the identification of aChairman, whose appointment will be announced by Lontra in due course. Lontra has developed an innovative design for efficient engines, compressors andexpanders, with the potential to deliver significant fuel savings and emissionreductions. The principal benefit of the engine design is its efficiency,expected to be up to 37% more efficient than a traditional engine. Anothersignificant benefit of the design is its ability to dynamically vary thecapacity of the machine with little or no loss in efficiency. This gives theengine high efficiencies at all speeds, and enables compressors to have variableloading without the need for high cost variable speed motors. The investment will enable the company to develop and test a prototype for acompressor. Susan Searle, CEO of Imperial Innovations, said, "We are delighted to see a Carbon Trust Incubator company reach this stage ofdevelopment. NPI Ventures' readiness to co-invest alongside Imperial Innovationsconfirms the value of the Incubator programme and the quality of the technologyit seeks to promote." Simon Hombersley, Business Development Director of Lontra, said, "We are pleased to have the continued support of Imperial Innovations. Theirinvestment, together with the financial support of NPI Ventures, will make ameaningful contribution to the further development of our unique technology aswe test its industrial applications." -Ends- For more information contact: Imperial Innovations Susan Searle, Chief Executive Officer +44 (0)20 7594 6591Lucy Ahfong, Marketing Communications Executive +44 (0)20 7594 6644 M:Communications Eleanor Williamson +44 (0)20 7153 1539 Notes to Editors About Imperial Innovations Imperial Innovations is one of the UK's leading technology transfer andcommercialisation companies. The company was founded in 1986 and its ordinaryshares admitted to trading on the AIM Market of London Stock Exchange plc inJuly 2006, raising £26 million. The company's integrated approach encompassesthe identification of ideas, protection of intellectual property, developmentand licensing of technology and formation, incubation and investment in spin-outcompanies. A wide range of technologies are commercialised within the areas ofbioscience and technology and engineering. Based at Imperial College London, the company has established equity holdings in58 spin-out companies and has completed 90 commercial agreements. ImperialInnovations also commercialises technologies originating from outside ImperialCollege through incubation contracts with the Carbon Trust and WRAP and hasrelationships with a number of multinational corporations. Imperial Innovations has invested in a range of spin-out companies including TheAcrobot Company Limited, Cardiak Limited, deltaDOT Limited, Future Waves PTELimited, HeliSwirl Technologies Limited, InforSense Limited, Lontra Limited,Midaz Laser Limited, NanoBiodesign Limited, Nexeon Limited, NovaThera Limited,Photobiotics Limited, Thiakis Limited and Veryan Medical Limited. Imperial Innovations currently holds shares in three spin-out companies nowlisted on AIM; fuel cell company, Ceres Power plc, and ParOS plc, a provider ofenergy-saving advanced control solutions, as well as Nanoscience plc, adeveloper of low power integrated circuits and silicon chips, following itsacquisition of spin-out company Toumaz Technology Limited. Website: www.imperialinnovations.co.uk About Lontra Lontra was established in 2004. Based in London, the company develops andcommercialises environmental technologies based on its patented LindseyEngineTM. The company is working with leading engineering consultancy MahlePowertrain (formerly Cosworth Technology) and has benefited from grant supportfrom the DTI and London Development Agency, together with the Carbon TrustIncubator Scheme. Website: www.lontra.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Imperial Innovations Group