Frontier IP Group plc Increased Equity Holding in Fieldwork Robotics

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Frontier IP Group plc

09 April 2018

RNS REACH

AIM: FIPP

09 April 2018

Frontier IP Group Plc

("Frontier IP" or the "Group")

Increased Equity Holding in Fieldwork Robotics

Frontier IP, which specialises in commercialising intellectual property, has agreed to provide extra development and engineering support to portfolio company Fieldwork Robotics ("Fieldwork") in return for an increased stake in Fieldwork from 21 per cent to 27.5 per cent.

The move will enable Fieldwork to accelerate development of its agricultural robots following interest from the industry.

Fieldwork, a spin-out company from the University of Plymouth, has been incorporated to develop and commercialise the work of Dr Martin Stoelen, Lecturer in Robotics, and his team. The technology consists of a soft, adaptable robot arm and highly sensitive grippers able to handle delicate items.

Frontier IP's increased support will allow Fieldwork to develop a proof-of-principle, field-test ready prototype robot for harvesting vegetables, such as cauliflower. Frontier IP's technology team will help plan the project and work on design, software and electronics.

The project demonstrates the flexibility of the Fieldwork system, where the grippers and tools at the end of the arms can be changed for different applications. Work is well advanced on a soft-fruit picking robot, which has attracted considerable interest from leading producers.

Three patents have been applied for and Fieldwork has a licence from the University of Plymouth to use the intellectual property relating to the system's robotics.

The agricultural sector is increasingly interested in robotic applications to overcome problems in recruiting labour, reducing wastage and improving margins.

Frontier IP Group Chief Executive Neil Crabb said: "This positive development further validates our approach to plugging the gap between universities and industry. By providing Fieldwork with additional hands-on support, we are ensuring the company can respond swiftly and nimbly to an exciting opportunity."

Fieldwork Robotics founder and director Dr Martin Stoelen said: "We're delighted with the additional resources from our partner, Frontier IP. Speeding up the development of a field-ready prototype brings forward the day when the technology can be fully commercialised."

ENQUIRIES

 
 Frontier IP Group Plc                        T: 0131 240 1251 
 Neil Crabb, Chief Executive 
  Andrew Johnson, Communications                M: 07464 546 
  & Investor Relations                          025 
  [e-mail] 
  Company website: www.frontierip.co.uk 
 Cenkos Securities plc (Nominated             T: 0131 220 6939 
  Adviser and Joint Broker) 
 Neil McDonald / Beth McKiernan 
 Peterhouse Corporate Finance                 T: 020 7469 0935 
  Limited (Joint Broker) 
 Lucy Williams 
 Kreab (Financial PR)                         T: 020 7074 1800 
 Robert Speed / Matthew Jervois 
  NOTES TO EDITORS 
  Frontier IP aims to close the 
  gaps between universities, investors 
  and industry. The Group helps 
  institutions and companies commercialise, 
  exploit, and scale up their 
  intellectual property through 
  formal and informal relationships 
  with sources of exploitable 
  IP; mainly universities. It 
  looks to build and grow a portfolio 
  of equity stakes and licence 
  income from companies founded 
  on strong, commercially-focused 
  IP by taking an active involvement 
  in them, including help with 
  fund raising and collaborating 
  with relevant industry partners 
  at an early stage of development. 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 09, 2018 03:26 ET (07:26 GMT)