1st Aug 2007 17:31
Imperial Innovations Group plc01 August 2007 Imperial Innovations Group plc ("Imperial Innovations") Investment in Nexeon Ltd Imperial Innovations Group plc (AIM: IVO) today announces that it has invested£1.95 million in Nexeon Ltd ("Nexeon"), a company developing batteries with ahigh energy density. The investment in Nexeon is part of a £4.25 million fundinground that also included a £250,000 investment from Paul Atherton, non-executivedirector of both Imperial Innovations and Nexeon, as well as investments fromTudor Group and PUK Ventures. Nexeon is refining novel battery technology to enable greater energy storage andwill use the funds raised to develop their second generation Lithium-Ion batterytechnology. The company is based on the research of Emeritus Professor MinoGreen at the Department of Electrical Engineering at Imperial College London. Alongside Professor Green and Paul Atherton, the board comprises Robin Neat, CEOand other non-executive directors, Russ Cummings, Chief Investment Officer atImperial Innovations and Chris McComb, Head of Investments at PUK Ventures. Susan Searle, CEO, Imperial Innovations, said, "We are delighted that Nexeon has successfully raised these funds and we lookforward to supporting them through their next stage of development". Robin Neat, CEO, NEXON said, "We are grateful for the support we have received from Imperial Innovations andthe other investors. Second generation Lithium-ion battery technology is nowemerging into a US$4 billion market to which I am confident Nexeon will make asignificant contribution". -Ends- For more information contact: Imperial InnovationsSusan Searle, Chief Executive Officer +44 (0)20 7594 6591Lucy Ahfong, Marketing Communications Executive +44 (0)20 7594 6644 M:Communications +44 (0)20 7153 1539Patrick d'Ancona / Eleanor Williamson JPMorgan Cazenove (NOMAD to Imperial +44(0)20 7588 2828Innovations)Steve Baldwin 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 £25 million at an offer price of 165p and £1m by means of apublic offer. The company's integrated approach encompasses the identification of ideas,protection of intellectual property, development and licensing of technology andformation, incubation and investment in technology businesses. A wide range oftechnologies are commercialised within the areas of healthcare, energy,environment and emerging technology trends. Based at Imperial College London, the company has established equity holdings in70 technology businesses and has completed 116 commercial agreements. ImperialInnovations also commercialises technologies originating from outside ImperialCollege through incubation contracts with the Carbon Trust and WRAP and hascommercialisation contracts with a number of multinational corporationsincluding BAE Systems. www.imperialinnovations.co.uk About PUK Ventures PUK Ventures invests in high-growth opportunities which have originated from theUK public sector, or have received significant UK public sector financing. PUKVentures has a £25m fund to invest in early stage technology companies, maturepublic sector assets or in funds which focus on such areas. For more informationcontact Chris McComb at Partnerships UK on 020 7270 8386 or visitwww.pukventures.com About Tudor Group The Tudor Group, which consists of Tudor Investment Corporation and itsaffiliates, is involved in active trading, investing and research in the globalequity, debt, currency and commodity markets. Founded in 1980 by Paul Tudor Jones II, the firm's investment strategies includeglobal macro trading, fundamental equity investing in the U.S. and Europe,emerging markets, venture capital, commodities, event driven strategies andtechnical trading systems. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Imperial Innovations Group