Ip Share Discussion Threads

[p1nkfish] 06/8/2022 17:42

10.7% held by IP Group.
No news out of IP yet? Slow out of the traps, NEXEON 3rd August.

[p1nkfish] 06/8/2022 14:40

Good q bb2, it got the 2nd longest answer.
Suggesting it would happen over time, a weasely answer.
What time frame ?

[bamboo2] 06/8/2022 13:45

p1nk, The question about aligning management incentives with shareholder interests via NAV, AND the share price was from me. I am not sure they gave a good answer.

Yes, some of the constituents look really good.

Once they have their financing in place, I hope to see dilution of the FLF holding. I'd rather not see IPGroup put in more cash if possible.

[p1nkfish] 06/8/2022 12:42

Watched IMC, noted the question on remuneration.

Patience needed, the quality of some of the portfolio vs valuation of the Group is a major source of frustration.

Some truly excellent constituents.

[p1nkfish] 05/8/2022 13:30

Doesn't look like a positive close likely this week at >= 88.8p.

This bunch need to be bonused on share price performance and total shareholder returns, ASAP.

The incentives are not aligned with us. No doubt they are happy with that situation else they would change it.

[palisz] 04/8/2022 12:44

Edison research piece.hxxps://www.edisongroup.com/publication/public-market-falls-largely-priced-in/31181/
long term attractive.

[p1nkfish] 04/8/2022 12:01

Price levels of most interest to me.

A) weekly close over 88.6 - 88.8p
B) monthly close over 115p. Could really run well when through this one.

[p1nkfish] 04/8/2022 11:44

The institutions are making it clear, they want debt income from IPO, not equity in IPO.
The management, imo, are trying to ride more than one horse at a time with a single ass.
Issuing equity to raise cash might have cost more in dilution - I don't know - but with this bunch my suspicion is it's a club for "friends" and "friends" will come out better than us.

The buyback was to offer liquidity for exits, perhaps even by the same institutions??
Transparency of holdings not a strong point.

At such a discount and coming off a bottom, now would be a time to buyback but there might well have been reasons they did it when they did to help "friends".

Some interesting price levels to cross and at least one close in, weekly close over 89p would be useful.

Really interested in the likes of ONT, FLF etc but jury out on the new bus driver.

I've become increasingly sceptical, you can probably tell.

[palisz] 04/8/2022 10:29

pinkfish This is where I have an issue. Company happy to increase investments to current portfolio at NAV as calc by honest bankers (sarcasm) But so far have not initiated another share buy back where they are effectively buying the same companies at a massive 70% + discount. Really not sensible, they have way too much cash, are borrowing more, but won't buy back the shares. They say will buy back when they make more realisations, which in this market may be tough.

[bamboo2] 03/8/2022 21:47

Slides from presentation.



Hysata CEO Paul Barrett

[bamboo2] 03/8/2022 17:53

Re FLF, news could be quite exciting. To see plans for a working Fusion reactor with energy gain would be fantastic!

Re ONT, I wondered if management gave a tip that there was to be another upgrade, as I know that since listing, they have only upgraded guidance three times, rather than the four times mentioned at the presentation.

[p1nkfish] 03/8/2022 15:25

This is better EI.

[essentialinvestor] 03/8/2022 14:55

lol at the last sentence ! - I read your posts which is probably scant consolation.

Try not to be so hard on yourself Mr p1nk.

[p1nkfish] 03/8/2022 14:48

Headlines like this don't help, also references debt issuance and difficult market backdrop. More negatives in the Proactive release than there are positives mentioned imho.

"IP Group swings to loss due to life sciences write-down"

Still not convinced by this management, few people read my posts. Thousands read Proactive Investors.

[p1nkfish] 03/8/2022 14:37

We need to work flat-out to get into the Fusion-Age. All subsequent ages will depend upon it.

All previous ages have been dependent on the Carbon-Age. From wood to coal to coke to oil and gas.

Fission ok for now,
Fusion better.

Good luck FLF.

[bamboo2] 03/8/2022 13:29

Nuclear pioneer First Light Fusion ignites plan for £400m fundraising

The Oxford-based nuclear fusion company is working with bankers at UBS to raise one of the biggest-ever funding rounds by a British energy start-up, Sky News learns.


Mark Kleinman
City editor @MarkKleinmanSky

Tuesday 2 August 2022 12:28, UK

An Oxford-based company behind a pioneering approach to generating clean fusion power is kicking off a £400m capital-raising that would be among the largest by a UK energy start-up.

Sky News has learnt that First Light Fusion began approaching prospective investors about the funding injection in recent weeks.

The company, which has been endorsed by Sir Patrick Vallance, the government's chief scientific adviser, is targeting completion of its mammoth fundraising in the coming months.

First Light Fusion announced this year that it had combined atomic nuclei - a crucial step towards generating nuclear fusion power and meeting soaring global demand for clean energy.

The company, which was spun out of Oxford University, was founded in 2011 by Nick Hawker, its chief executive.

Its prospective valuation if the new funding round succeeds was unclear on Tuesday, although one source suggested that it would be at or close to unicorn status - referring to a business worth at least $1bn.

First Light Fusion intends to use the new money to accelerate its commercialisation, according to people close to the company. continues...

[bamboo2] 03/8/2022 09:58

Dividend

The Board has declared an interim dividend in respect of the period from 1 January 2022 to 30 June 2022 of 0.50p per ordinary share.

The Interim Dividend will be payable on or around 19 September 2022. The ex-dividend date will be 11 August 2022 with a record date of 12 August 2022.

[bamboo2] 03/8/2022 07:56

Use co website for the detailed half year report. Quite a bit of new info.



Dose-Ranging Phase 2b Study trial of Itesso MBS-2320 only 12 weeks long, so early findings known reasonably quickly. If they are good it could be extended. Main trial completion after 22 weeks.

[bamboo2] 03/8/2022 07:19

FOR RELEASE ON 03 August 2022

("IP Group" or "the Group" or "the Company")

Half-yearly results

Significant progress in key portfolio companies, well financed, commitment to continued shareholder returns

IP Group plc (LSE: IPO), which develops world-changing science and technology businesses across life sciences, deeptech and cleantech , today announces its financial results for the six months ended 30 June 2022.

Half-year highlights

-- Significant progress in key companies including fusion result at First Light Fusion, Istesso preparing to commence a Phase 2b trial for its lead drug MBS2320 in rheumatoid arthritis, and multiple upgrades to revenue projections at Oxford Nanopore

-- Launch of dedicated cleantech platform Kiko Ventures to support transformative climate technology

-- Strong balance sheet and liquidity to support follow-on investment in the portfolio with gross cash and deposits at 30 June 2022 of GBP 235.7 m (HY21: GBP308.9m; FY21: GBP321.9m)

-- NAV 1F [1] of GBP1,414.0m or 136.7 pence per share (HY21: GBP1,439.8m or 135.4 pence per share; FY21: GBP1,738.1m or 167.0pps)

-- Loss of GBP309.8m (HY21: Profit of GBP116.5m; FY21: Profit of GBP449.3m), driven by reversal of gains on Oxford Nanopore reflecting public market declines for life science tools companies

-- Profit of GBP35.6m excluding fair value movement on Oxford Nanopore (HY21: Profit of GBP116.5m; FY21: Profit of GBP152.3m)

-- Our private portfolio company valuations remained robust with considerably more (92%) of our companies raising money in the current period at or above previous funding round valuations

-- Interim dividend of 0.50p per share (HY21: 0.48pps; final dividend: 0.72pps); completion of GBP35m share buyback

Portfolio highlights

-- Investment into portfolio: GBP52.0m into 22 companies across all our key thematic areas (HY21 GBP69.5m; FY21: GBP103.7m) including significant allocations into Istesso Ltd (GBP10m) and Bramble Energy Ltd (GBP9.5m)

-- Total portfolio: GBP1,265.5m (HY21: GBP1,263.5m; FY21: GBP1,507.5m)
-- Net portfolio loss of GBP291.1m (HY21: GBP140.4m gain ; FY21: GBP499.2m gain), with quoted portfolio losses of GBP395.4m and private portfolio gains of GBP104.3m. Oxford Nanopore contributed a loss of GBP345.5m (HY21: nil, FY21: GBP297.1m gain)

-- Total funds raised by portfolio companies: approximately GBP330m (HY21: c.GBP1.0bn; FY21: c.GBP2.4bn) including Nexeon (GBP60m), Microbiotica (GBP40m), MoA Technology (GBP35m) and Bramble Energy Ltd (GBP32m)

-- Realisations of GBP2.1m, reflecting market conditions (HY21: GBP111.9m; FY21 GBP213.9m)
Post period-end update

-- Agreement to issue long maturity private loan notes to UK institutional investors, making an additional GBP105m available for future drawdown for ESG investment to support portfolio companies and new investments

-- The fair value of the Group's holdings in listed companies experienced a net fair value increase of GBP30.2m in the period since 30(th) June

-- Hysata, our novel electrolyser business, completes AUD$43m round including AUD$19m from IP Group, to fund pilot plant

Greg Smith, Chief Executive of IP Group, said: "I am pleased to report strong progress in the first half of the year in our leading private portfolio companies. First Light Fusion achieved a world-first fusion result which was externally validated by the UK Atomic Energy Authority and we anticipate that Istesso's Phase 2b study in rheumatoid arthritis for its lead drug MBS2320 will start shortly. Our deepening thematic focus was demonstrated by the launch of our dedicated cleantech platform, Kiko Ventures.

Having acted to ensure that the Group has a strong level of liquidity, IP Group ended the period with gross Cash of GBP235.7m. This financial strength enabled the Group to continue to invest into our leading companies over the period as well as continuing to return a proportion of all exits to shareholders via dividends and share buybacks. In addition, we have arranged a private market debt issue to provide additional funding flexibility in what may be difficult market conditions.

The Group, including Parkwalk, is one of the largest investors in university and other research-based companies in the world and has both a maturing portfolio and an exciting pipeline of opportunities. While the Group continues to plan for reduced realisations this year, given the current market backdrop which has resulted in a first half loss, we continue to believe that the prospects for our portfolio are compelling. Given our strong cash and credit facilities, maturing portfolio and deep sector expertise, IP Group is well placed to navigate the current economic and geopolitical conditions and generate significant returns to shareholders."

Webinar : IP Group will host a webinar for analysts and investors today, 10:00 GMT. For more details or to register as a participant please visit www.ipgroupplc.com/events .

[bamboo2] 02/8/2022 11:14

After investing £10.9m, IPGroups stake in Hysata is valued at £19m

Prior to this series A funding, in 2021 IPGroup was part of the seed funding of $5m AUS.

We do not know what percentage of the co is held by IPGroup. I would guess at 20-30% for this stage of Hysata's development.

There is a presentation of the six-monthly figures tomorrow morning at 10am.
You can ask for clarification then, or in advance by email.

[jojaken] 02/8/2022 07:58

Is it just me or does this maths not work?

"IP Group committed a total of A$19m (GBP10.9m*). Following completion, the Group's stake in Hysata is valued at approximately GBP19.0m. IP Group has recorded a net unrealised fair value gain of approximately GBP8.4m."

Was IP's stake worth "a net unrealised fair value" of -GBP0.3 before this investment?

[bamboo2] 02/8/2022 07:42

FOR RELEASE ON 02 August 2022

IP Group plc - Portfolio company Hysata completes oversubscribed series A funding round to develop pilot manufacturing facility

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which develops world-changing science and technology businesses across life sciences, technology and cleantech , notes that portfolio company Hysata Pty Ltd ("Hysata" or "the Company") has raised $A42.5m (GBP24.3m*) to help develop a pilot manufacturing facility aimed at delivering the world's lowest cost green hydrogen.

Hysata, an Australian electrolyser company developing a completely new type of electrolyser featuring the world's most efficient electrolysis cell, launched last year having spun out of the University of Wollongong. The Hysata electrolyser operates at 95% system efficiency (41.5 kWh/kg), delivering a leap in performance and cost over incumbent technologies, which typically operate at 75% or less. This high efficiency, coupled with the simple approach to mass manufacturing and low supply chain risk puts the company on a path to delivering the world's lowest cost green hydrogen .

IP Group committed a total of A$19m (GBP10.9m*) to the funding round (A$9m(GBP5.1m*) from IP Group Australia and A$10m (GBP5.7m*) from our cleantech platform, Kiko Ventures). Following completion, the Group's stake in Hysata is valued at approximately GBP19.0m. IP Group has recorded a net unrealised fair value gain of approximately GBP8.4m.

Greg Smith, Chief Executive Officer of IP Group , said: "Hysata has made excellent technical progress with research in Nature Communications, the scientific journal, confirming its efficiency earlier this year and we're delighted to see Hysata attract such strong interest in this round. This is a great example of IP Group's model where our Australian team have worked closely with our cleantech team in the UK to find, fund and support this exciting hydrogen technology."

The full release follows below.

*GBP equivalent using 1.75 AUD/GBP

For more information, please contact:


IP Group plc www.ipgroupplc.com
[phone]/+44 (0)
Liz Vaughan-Adams, Communications 7967 312125
Charlotte Street Partners
David Gaffney [phone]
Andrew Wilson [phone]

Notes for editors

About IP Group

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech (through Kiko Ventures). The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc, and has one of the most exciting portfolios of high-growth businesses in Europe. The Group also owns Parkwalk, the UK's largest growth EIS fund manager which backs world-changing technologies emerging from the UK's leading universities and research institutions. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.

For more information, please visit our website at www.ipgroupplc.com .

S
Green hydrogen company Hysata's Series A funding exceeds $40 million

The Clean Energy Finance Corporation, Kiko Ventures, IP Group Australia, Vestas Ventures, and Hostplus are among the top-tier investors supporting Hysata's Capillary-Fed Electrolyser

(Sydney, Australia) Tuesday 2 August 2022

Australian company Hysata's world-leading hydrogen electrolyser technology has been supported by renowned global investors, as the organisation closes its oversubscribed Series A funding round of $42.5 million AUD. Virescent Ventures led the funding round on behalf of the Clean Energy Finance Corporation (CEFC) (Aus), with participation from Kiko Ventures (UK), IP Group Australia, Vestas Ventures (Denmark), Hostplus (Aus) and BlueScope (via its ventures arm BlueScopeX (TM) ) (Aus).

Assembling such a high profile and high impact list of investors underlines the significance of the transformation that Hysata is bringing to the green hydrogen industry. The Hysata electrolyser operates at 95% system efficiency (41.5 kWh/kg), delivering a giant leap in performance and cost over incumbent technologies, which typically operate at 75% or less. This high efficiency, coupled with the simple approach to mass manufacturing and low supply chain risk puts the company on a path to delivering the world's lowest cost green hydrogen.

Funding from the Series A round will be used to grow the Hysata team and develop a pilot manufacturing facility.

"Our mission is to redefine the economics of green hydrogen production through our innovative proprietary electrolyser technology. The support of this international syndicate of clean energy practitioners and investors validates our core technology and our approach to scaling and mass manufacture," said Paul Barrett, CEO of Hysata.

"Green hydrogen is a vital energy vector on the world's path to net zero, critical to decarbonising the hard-to-abate, yet vital, sectors of our economy such as steelmaking, heavy transport, and the chemical industry. The extensive end use cases for green hydrogen translate to a greater than trillion-dollar market opportunity.

"Over the last 12-18 months, Hysata has been interacting with dozens of major customers globally. The impact our efficiency and system simplicity delivers to customers' project economics truly moves the needle. We look forward to continuing to work with our shareholders and customers to bring this much needed technology to market as soon as possible."

The CEFC invested $10 million into the Series A funding round, building on its initial $750,000 investment in the early commercial development of Hysata's research. CEFC CEO Ian Learmonth said that backing a company like Hysata and its cutting-edge electrolyser technology is vital in helping to grow Australia's clean technology ecosystem.

"The CEFC is proud to continue our support for Hysata, which is set to be a major player in the global electrolyser industry. Green hydrogen will be essential to addressing the hardest to abate sources of emissions, and we're excited to see Australian ingenuity providing the technology solutions that will help this industry reach scale. The CEFC has a strong focus on hydrogen related investments through both our Innovation and Advancing Hydrogen Funds and we are delighted to see Hysata continue to advance hydrogen to help meet future energy needs and reduce emissions in more sectors of the Australian economy," Mr Learmonth said.

The CEFC investment is via its specialist Clean Energy Innovation Fund, which is managed by Virescent Ventures. Virescent Ventures Partner Blair Pritchard said: "Hysata continues to make rapid progress and we are pleased to support such an innovative company with an outstanding team. The continued growth of Hysata is an important pointer to the enormous potential of hydrogen to our net zero future."

Kiko Ventures' Founding Partner, Robert Trezona, said Hysata has real potential to become a major global clean technology player.

"Having assessed scores of electrolyser technologies in my 20 years in cleantech, Hysata's technology stands out as a true breakthrough. The company has redefined the core cell architecture for alkaline electrolysis, producing a practical and scalable solution with game changing efficiency. Hysata has the potential to be a globally significant company in the hydrogen economy and we look forward to supporting its growth, especially here in Europe." Dr Trezona said.

IP Group Australia's Managing Director, Michael Molinari, added: "Hysata have assembled a world-class team to bring their revolutionary capillary-fed electrolyser to market. We're proud to have supported the company from before inception at the University of Wollongong to now redefining the economics of green hydrogen with their electrolyser that is set to scale."

Todd O'Neill, CEO of Vestas Ventures, said: "As the venture capital arm of the world's leading renewable technology provider, Vestas Ventures foresees great potential in combining wind power with electrolysers for green hydrogen production. We are delighted to have been invited to invest in Hysata. Nurturing disruptive renewable technologies is central to our investment strategy and we look forward to following Hysata's success over the coming years."

BlueScopeX(TM) 's General Partner, Michael Quinn, agreed that Hysata's technology could play a significant role in the development of commercially viable hydrogen production.

"BlueScopeX(TM) is pleased to be investing in Australian technologies coming out of our local communities, with Hysata being born in the Illawarra. Our industry requires smart, affordable technologies like Hysata's to help progress the broader goal of decarbonisation, and we are excited to be supporting them on their path to commercialisation," he said.

S
About Hysata

Hysata is an Australian electrolyser company which is developing a completely new type of electrolyser, featuring the world's most efficient electrolysis cell coupled with a simplified balance of plant. Electricity makes up most of the cost of green hydrogen and therefore, the most efficient electrolyser will deliver the lowest cost hydrogen. The Hysata founding team comprises electrolyser industry veterans, with deep expertise in the design and scale-up of novel electrolysers. Building on that foundation we are growing a world-class engineering, manufacturing, and commercial team with a footprint on multiple continents. Backed by leading global investors, Hysata is moving rapidly towards manufacturing at the multi-gigawatt scale needed to address climate change. For more information visit www.hysata.com

About the CEFC

The CEFC has a unique mission to accelerate investment in Australia's transition to net zero emissions. We invest to lead the market, operating with commercial rigour to address some of Australia's toughest emissions challenges. We're working with our co-investors across renewable energy generation and energy storage, as well as agriculture, infrastructure, property, transport and waste. Through the Advancing Hydrogen Fund, we're supporting the growth of a clean, innovative, safe and competitive hydrogen industry. And as Australia's largest dedicated cleantech investor, we continue to back cleantech entrepreneurs through the Clean Energy Innovation Fund. With $10 billion to invest on behalf of the Australian Government, we work to deliver a positive return for taxpayers across our portfolio.

About Virescent Ventures

Virescent Ventures was born out of the Clean Energy Innovation Fund , part of the Clean Energy Finance Corporation . Virescent invests in pre-seed to late-stage growth capital, and makes investments that address the largest, hardest to abate sources of emissions. For more information visit www.virescent.vc

About Kiko Ventures

Kiko Ventures is a US$450m venture investor that supports transformative climate tech and is the world's first evergreen cleantech VC. Launched in 2022 by the FTSE 250 listed investment firm IP Group plc, Kiko Ventures was founded to create new possibilities for a regenerative future. It is a highly flexible investment platform using IP Group's balance sheet capital and aims to be a long-term partner to leading climate tech innovators.

For more information visit www.kiko.vc

About IP Group Australia

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech. The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc. In Australia and New Zealand, IP Group works in close partnership with the Go8 Universities and the University of Auckland to identify ground-breaking technologies rooted in hard science, which have the most promising commercial potential. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. For more information visit www.ipgroupanz.com

About Vestas Ventures

Vestas Ventures is the corporate venture capital arm of Vestas Wind Systems, the world's leading renewable technology provider. Vestas Ventures invests in startups that support Vestas' vision to be the global leader in sustainable energy solutions. For more information visit www.vestas.com/ventures

About Hostplus

Hostplus has grown to be one of the largest industry super funds in Australia. With over 1.5 million members, more than 269,000 employers and $86.6 billion in funds under management (as at 30 June 2022), our scale and ongoing growth allows for low member costs and a broad range of investment opportunities.

For more information visit www.hostplus.com.au

About BlueScopeX(TM)

BlueScope is one of the world's leading manufacturers steel coated products and commercial steel buildings. BlueScope is publicly listed on the Australian Stock Exchange, with an approximate market cap of $10b and >14,000 employees globally.

BlueScopeXTM is the ventures arm of BlueScope, dedicated to investing in and accelerating start-ups and businesses developing technologies and solutions in the decarbonisation space, and efficiency improvements in the built environment. For more information visit www.bluescope.com

[bamboo2] 01/8/2022 17:00

Latest valuation from Imperial [ICL] dated 30/4/2022 has direct holding in IPGroup valued at £27,788,904

From this valuation, it's evident that they remain holding 2.99% or 31,859,416 shares.

[bamboo2] 01/8/2022 14:41

Re:infer IP Group holding 23.0%

UiPath Acquires Re:infer Bringing Natural Language Processing to Enhance Everyday Customer Conversations Through Automation
August 1, 2022

New Communications Mining capability enables UiPath software robots to understand email context and semantics, online chats, and voice sessions, delivering superior customer service interactions

NEW YORK, NY– August 1, 2022 – Leading enterprise automation software company, UiPath (NYSE: PATH), today announced it has acquired Re:infer, a London-based natural language processing (NLP) company for unstructured documents and communications. Founded in 2015 by Ph.D. scientists from the AI research lab at University College London, Re:infer uses machine learning (ML) technology to mine context from communication messages and transform them into actionable data with speed and accuracy.

“Automation and AI are a powerful and natural pair that together empower the vision of the fully automated enterprise™,” said Ted Kummert, Executive Vice President, Products & Engineering at UiPath. “Our customers are awash in documents, communications, and data that they need to understand the meaning of and process efficiently. Combining Re:infer’s NLP technology with our Document Understanding and AI products expands the breadth of our current AI-powered automation capabilities and unlocks new automation opportunities for our customers.”

“Automating the interpretation of documents and communications data bridges the gap between humans and information technology systems, and structured and unstructured data to supercharge digital transformation efforts in the enterprise,” said Dr. Ed Challis, CEO and Co-Founder of Re:infer. “We have spent the last seven years building an innovative technology and believe UiPath will take us to another level. We couldn’t be more excited to access UiPath’s power of scale and introduce Re:infer to a new global audience. We’re joining the leader in enterprise automation and it’s an incredible day for us.”

Re:infer allows users to deploy custom machine learning models to analyze documents and communications data generated by a typical business each day – data previously lost or ignored due to processing limitations. Their no-code interface allows business users to train their own AI models for greater specificity and flexibility. The self-learning capability continuously improves model accuracy to assist customers in identifying bottlenecks and inefficiencies. Today, this is helping many of the world’s leading enterprises – including large banking, insurance, and e-commerce organizations – scale their services, enhance customer experience, and drive process improvement. This includes UBS, Deutsche Bank, Hiscox Ltd., and Farfetch.

“By using UiPath and Re:infer together, we have driven significant business impact through automation, enabling automated cataloguing, triaging, and responding to tens of thousands of email-based requests per month,” said Marco Rodriguez, Head of Automation at Hiscox Ltd. “With UiPath and Re:infer, our insurance brokers get instant, automated responses to email requests. Our service-level agreements have been reduced from days to just hours, and we have true, organizational visibility into business conducted over email.”

“Businesses are increasingly turning to platforms that combine intelligent automation technologies and solutions to resolve entrenched business problems. Mining for value in the thousands of interactions between a business and its customers each day is an attractive proposition for organizations that want to enrich customer experience, generate new revenue streams, and optimize operational efficiencies,” said Sneha Kapoor, Senior Research Manager, Analyst, and Technology Advisor for IDC Financial Insights.

Re:infer’s product capabilities are available to UiPath customers in private preview. Further details will be announced at the UiPath FORWARD 5 conference taking place at the Venetian Resort in Las Vegas September 27-29, 2022. To register for the conference, please visit: hxxps://www.uipath.com/events/forward/register.

Read more about the acquisition on the UiPath Blog.

Terms of the acquisition were not disclosed.

[bamboo2] 25/7/2022 23:14

Oxford, UK – First Light Fusion, the Oxford-based fusion energy pioneer, has entered a long-term collaboration agreement with IDOM, one of the world’s largest and most well-renowned engineering firms, to develop engineering plans for a critical part of its pilot power plant.

First Light is working with the engineering services leaders on the design of a fusion reactor chamber, as part of its plans to design and build a pilot fusion energy power plant, based on its unique target and projectile technology. IDOM will work closely with First Light’s experimental physics and engineering teams to scope the design and provide detailed design analysis and options for the reactor head, the reactor vessel, and its components.

Designing the reactor chamber forms a vital step in First Light’s plan to launch a pilot plant in the next decade, as part of the company’s roadmap for delivering commercial fusion by the 2040s. Once finalised, the kind of reactor being designed with the collaboration of IDOM will be the first of its kind, built specifically for a First Light commercial power plant.

First Light has successfully worked with IDOM over the last 12 months on specific project work. This longer-term agreement to develop a fusion reactor chamber will stretch over several years. Headquartered in Spain, IDOM is one of the most respected firms of its kind in the global fusion industry and has worked on a number of other significant fusion projects for public and private clients. This collaboration is led by IDOM UK based in Manchester.

The partnership follows First Light’s announcement in April, when it confirmed to have achieved fusion for the first time using its unique projectile approach. The company achieved fusion having spent less than £45 million, with a rate of performance improvement faster than any other fusion scheme in history.

After demonstrating fusion earlier this year, First Light’s plans for a ‘gain’ demonstrator – whereby the amount of energy generated outstrips that used to spark the reaction – are advancing rapidly. First Light believes that once it has achieved gain, the next major problem to solve commercial fusion becomes an engineering, rather than a physics one – and is working with IDOM on solving a number of those challenges.

First Light is working towards a pilot plant producing ~150 MW of electricity and costing less than $1 billion in the 2030s. The company’s power plant design involves the target being injected into the reaction chamber, and the projectile launched downwards through the same entrance, so it catches up with and impacts the target at the right moment (see: hxxps://firstlightfusion.com/technology/power-plant).

First Light differs from other players by taking a simple approach to fusion, which it believes will accelerate the journey to commercial fusion. This is because it can leverage a large amount of existing engineering to realise its proposed plant design, sidestepping some of the most difficult issues of fusion engineering.

Dr Nick Hawker, Co-Founder & CEO of First Light Fusion, said: “We are delighted to be collaborating long term with IDOM, which is well-renowned worldwide for its capabilities and expertise in fusion. Bringing together our teams will accelerate our progress, enabling us to deliver a pilot power plant in the next decade. The reactor chamber is a critical piece of the jigsaw puzzle for bringing commercial fusion to the market. Designing and developing a commercial fusion power plant is a great challenge, but our approach is all about simplicity, and we believe our projectile technology offers the fastest path to power generation from fusion.”

David Zaragoza, Manager of the Fusion Business of IDOM, said: “First Light have proven their unique projectile technology has the potential to deliver fusion. We are excited to work together to design a reactor chamber. This is in line with our mission to support the development of new approaches to fusion and deliver a fusion power plant to the grid as quickly as we can.”

ENDS