Reach - a non-regulatory announcement
AIM: FIPP
24
May 2024
Frontier IP Group
Plc
("Frontier IP" or the
"Group")
Portfolio news - Topps
Group's Parkside arm launches Alusid floor tile
range
Frontier IP, a specialist in
commercialising intellectual property, today announces that
portfolio company Alusid Limited ("Alusid" or the "Company") has
launched its first range of floor tiles through Parkside
Architectural Tiles ("Parkside"), the commercial arm of Topps Tiles
Plc ("Topps Group" or "Topps").
Called Mas, the range is made from
between 95 per cent and 98.5 per cent recycled content, depending
on the colour, and has one of the lowest carbon footprint of tiles
in the market*. This is an important consideration for a
construction industry and its customers facing carbon taxes and
tougher environmental regulations, and having to meet their own
sustainability targets. Topps is expected to launch the range to
retail customers later this year.
Floor tiles represent about 60 per
cent of the total tile market. Mas tiles have been extensively
tested, are hardwearing and have porcelain grade breaking strength.
They are mass manufactured on industry-standard equipment, and
production is sub-contracted.
Earlier this month, the Alusid-made
Principle range, launched into the Topps retail chain last year,
was named Wall Tile of The Year by The Tile Association at its
annual awards.
Alusid raised £1.13 million from new
and existing investors in January 2024, including a £500,000
investment from Octopus Investments through its Octopus AIM VCT 1
plc and Octopus AIM VCT 2 plc funds. The Company is now progressing
with plans for an initial public offering later this
year.
Other Alusid customers include
Starbucks EMEA, H&M, Pret a Manger and the BBC. The Company is
in discussions with potential distributors in Northern Europe to
expand into new territories.
Topps Group Buying Director Tim Tatlock
said: "Mas achieves market leading
levels of innovation in recycled content floor tiles and has been
enabled by the Alusid and Topps Group partnership. We are on a
journey to place more sustainable tiling products into the market,
something we are incredibly excited about as part of The Topps
Group's strategic commitment to Environmental Leadership in our
sector."
Alasdair Bremner, Alusid's CEO, said:
"Launching Mas
is a major milestone for Alusid and is the result of nearly two
years of hard work from our R&D team in the UK and our
production partners in Spain, we are proud to be bringing this
range to the market and to have achieved such a considerable
reduction in the carbon footprint of our first floor
tile."
Frontier IP Chief Executive Neil Crabb said:
"We are
delighted that Alusid has successfully developed and launched its
first range of floor tiles, which form a major part of the overall
tile market. This is a big step forward for the Company and is sure
to strengthen its appeal to investors as it explores an initial
public offering."
*Mas carbon footprint is 5.90kg per
m2 and is 45% lower carbon compared to the average
Spanish tile as established by the Spanish Tile Manufacturers
Association EPD. Alusid's carbon footprint was established by the
Materials Processing Institute who independently conducted a Life
Cycle Analysis on Alusid's dry granulation process. The
Environmental Product Declaration (EPD) produced is currently
proceeding through verification and is expected to be published by
July 2024.
ENQUIRIES
Frontier IP Group Plc
|
T: 020 7332 2338
|
Neil Crabb, Chief
Executive
Andrew Johnson, Communications &
Investor Relations
Company website: www.frontierip.co.uk
|
neil@frontierip.co.uk
M: 07464 546 025
|
Allenby Capital Limited (Nominated Adviser)
Nick Athanas / George
Payne
|
T: 0203 328 5656
|
ABOUT ALUSID
Alusid creates beautiful,
premium-quality tiles and architectural surfaces by recycling
industrial waste ceramics, glass and other materials much of which
would otherwise end in landfill.
The company's Sustainable Tile ranges
are distributed in the UK by Topps Tiles and Parkside Architectural
Tiles. Sequel Vibe was named Wall Tile of The Year in The Tile
Association's prestigious awards in 2020.
Alusid also makes its own surface
products under the brand name SilicaStone distributed in the UK by
Panaz. Customers include COS, part of H&M, Christian Dior,
Nando's, Harrods, Selfridges, Amazon UK and
Pret-a-Manger.
About Reach announcements
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