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FIPP Frontier Ip Group Plc

43.50
0.00 (0.00%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Frontier Ip Group Plc LSE:FIPP London Ordinary Share GB00B63PS212 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 43.50 42.00 45.00 43.50 43.50 43.50 38,935 07:30:56
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 372k -3.24M -0.0580 -7.50 24.32M

Frontier IP Group plc Fieldwork Robotics wins Innovate UK ISCF grant

01/04/2019 7:01am

RNS Non-Regulatory


TIDMFIPP

Frontier IP Group plc

01 April 2019

1 April 2019

Frontier IP Group Plc

("Frontier IP" or the "Group")

Portfolio news - Fieldwork Robotics wins GBP547,250 Innovate UK ISCF grant to accelerate raspberry-picking robot development

Frontier IP, a specialist in commercialising university intellectual property, today announces portfolio company Fieldwork Robotics (the "Company" or "Fieldwork") has won a UK government Innovate UK Industrial Strategy Challenge Fund ("ISCF") grant to accelerate development of its raspberry-harvesting robot system.

Innovate UK, the UK's innovation agency, has awarded the University of Plymouth spin out grant funding of GBP547,250 towards a GBP671,484 project to create a multi-armed mobile robot prototype. The other project partners include the University of Plymouth and the National Physical Laboratory.

Frontier IP holds a 27.5 per cent stake in the Company. Frontier IP provides Fieldwork with support for engineering and software development, fundraising and industry partnerships. The Company was incorporated to develop and commercialise the work of Dr Martin Stoelen, Lecturer in Robotics at the University's School of Computing, Electronics and Mathematics.

The government grant builds on the industry backing Fieldwork gained in August 2018 through a collaboration agreement with a leading UK soft-fruit grower, Hall Hunter Partnership. Hall Hunter supplies Marks & Spencer, Tesco and Waitrose.

Fieldwork is focused initially on raspberries because they are hard to pick. They are more delicate, more easily damaged than other soft fruits, and grow on bushes with complex foliage and berry distribution. Once the system is proved to work with raspberries, then it can be adapted readily for other soft fruits and vegetables.

Farmers around the world are increasingly interested in robot technology to address long-term structural decline in labour, an issue which has been brought into sharper focus in the UK by Brexit. Fieldwork is developing proof-of-concept robots for other crops following interest from leading agribusinesses.

The Innovate UK ISCF grant is one of several to be awarded to Dr Stoelen's work. A project to develop robot systems to harvest cauliflowers is supported by Agri-Tech Cornwall, an initiative part funded by the European Regional Development Fund with match-funding from Cornwall Council. Dr Stoelen is also working on a tomato-picking project run in partnership with Shanghai Jiao Tong University.

To support further development of its flexible and adaptable robotics technology, Fieldwork Robotics is expected to seek further funding from institutional and private investors during 2019.

Fieldwork Robotics founder and director Dr Martin Stoelen said: "We are delighted with this grant award from Innovate UK and the Industrial Strategy Challenge Fund, which will help us bring forward the day when our robot system will be harvesting berries in the field."

Frontier IP chief executive officer Neil Crabb said: "The government has identified robotics and artificial intelligence as key sectors to support as part of its industrial strategy launched last year. Fieldwork Robotics' technology has the potential to play an important role in improving agricultural productivity. We're very pleased with this award, which provides further validation of the technology it is developing."

ENQUIRIES

 
 Frontier IP Group Plc                         T: 0131 240 1251 
 Neil Crabb, Chief Executive 
  Andrew Johnson, Communications & Investor      M: 07464 546 025 
  Relations 
  Company website: www.frontierip.co.uk 
 Allenby Capital Limited (Nominated Adviser    T: 0203 328 5656 
  and Broker) 
 Nick Athanas / Nicholas Chambers (Corporate 
  Finance) 
  Amrit Nahal (Equity Sales) 
 

ABout frontier IP

Frontier IP unites science and commerce by identifying strong intellectual property and accelerating its development through a range of commercialisation services. A critical part of the Group's work is involving relevant industry partners at an early stage of development to ensure technology meets real world demands and needs.

The Group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.

Frontier IP is the commercialisation partner for the University of Plymouth.

ABOUT INNOVATE UK

Innovate UK is the UK's innovation agency. It works with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy. For further information visit www.innovateuk.gov.uk

ABOUT THE UNIVERSITY OF PLYMOUTH

The University of Plymouth is renowned for high quality, internationally-leading education, research and innovation.

With a mission to Advance Knowledge and Transform Lives, Plymouth is a *top 50 research university with clusters of world class research across a wide range of disciplines including marine science and engineering, medicine, robotics and psychology. A twice winner of the Queen's Anniversary Prize for Higher Education, the University of Plymouth continues to grow in stature and reputation.

It has a strong track record for teaching and learning excellence and has one of the highest numbers of National Teaching Fellows of any UK university. With 21,000 students, and a further 17,000 studying for a Plymouth degree at partner institutions in the UK and around the world, and over 100,000 alumni pursuing their chosen careers globally, it has a growing global presence.

http://www.plymouth.ac.uk

*Research Fortnight Research Power League Table 2014.

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END

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(END) Dow Jones Newswires

April 01, 2019 02:01 ET (06:01 GMT)

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