Frontier IP Group plc Increased Equity Holding in Fieldwork Robotics
09 April 2018 - 5:26PM
RNS Non-Regulatory
TIDMFIPP
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
andrew.johnson@frontierip.co.uk
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
END
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