Geomerics - New Venture Co.

Angle PLC 06 May 2005 For Immediate Release 6 May 2005 ANGLE plc GEOMERICS: NEW VENTURE COMPANY ANGLE plc ('ANGLE'), the venture management and consulting company specialising in the commercialisation of technology, is pleased to announce the launch of its latest venture company, Geomerics Ltd ('Geomerics'). Geomerics has secured intellectual property in the field of geometric algebra. Geometric Algebra is a powerful new form of mathematics that vastly simplifies complex geometric calculations. Geometric Algebra has its origins in the rather esoteric academic discipline of theoretical cosmology, but it has now been developed for application in a wide variety of disparate commercial applications such as computer graphics in computer games and electromagnetic modelling which is used, amongst other things, for optimising the design of mobile phone antennas and reducing the radar signature of ships and planes. One of the main differentiators between computer games is the speed and quality of rendering of the graphics. With best-selling games generating several hundred million dollars for their developers, the quest for better and faster graphics engines is relentless. Geomerics' technology provides a step-change improvement over the competition, and is set to revolutionise the market. Overall the market for computer games is currently worth more than $30bn and growing rapidly, and the market for graphics within these games is worth over $600m per year. Current electromagnetic modelling techniques do not give the accuracy required in many applications, because the processing power required is prohibitive. Geomerics' technology has already been used to resolve complex electromagnetic modelling problems that rival systems have been unable to solve. The electromagnetic modelling market is worth in excess of $100m per year and there is also considerable latent demand. This new approach in applying geometric algebra has been developed by a group of four leading academics from the University of Cambridge: Professor Anthony Lasenby (Professor of Astrophysics and Cosmology), Dr Mike Hobson (University Reader in Astrophysics), Dr Chris Doran (EPSRC Advanced Research Fellow) and Dr Joan Lasenby (Lecturer in Engineering). Geomerics has also engaged Professor David Hestenes of Arizona State University (the original inventor of geometric algebra) and Professor Alyn Rockwood of Colorado School of Mines (a geometric algebra and computer graphics expert) in an advisory capacity. In accordance with ANGLE's Progeny(R) process for creating new ventures, ANGLE's plan is to build a strong commercial offering in each of the key markets sequentially, seeking a return on its investment in the medium term. Simultaneously, development work will continue on the geometric algebra platform. ANGLE expects to spend up to £500,000 in the Progeny(R) venture, which is presently wholly owned by ANGLE. Commenting on the collaboration with ANGLE, Professor Lasenby said: 'We have been developing the mathematics and technology behind Geomerics for a number of years, and now is the perfect time to apply it to commercial applications. We are delighted that ANGLE will be commercialising our technology.' ANGLE's Chief Executive Andrew Newland said: 'Computer graphics and electromagnetic modelling are large, growing markets. Geomerics' technology is truly leading-edge and we believe it will revolutionise a wide range of fields. We are delighted to be working with such a high calibre of academic inventors.' For further information: ANGLE plc Andrew Newland, Chief Executive 01483 295830 Stephen Bence, Associate Director - Ventures UK 01223 472745 Buchanan Communications 020 7466 5000 Richard Darby, Suzanne Brocks Notes to Editors Founded in 1994, ANGLE is an international venture management and consulting company focusing on the commercialisation of technology and the development of technology-based industry. ANGLE creates, develops and advises technology businesses on its own behalf and for its clients. This information is provided by RNS The company news service from the London Stock Exchange