Business
Pulsiv announces £1.5m fundraise
Pulsiv announces £1.5m fundraise.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n \n \n Reach - a non-regulatory announcement\n \n \n AIM: FIPP\n \n \n 08 November 2022\n \n \n \n \n \n Frontier IP Group Plc\n \n \n (\"Frontier IP\" or the \"Group\")\n \n \n \n \n \n \n \n \n Portfolio news - Pulsiv announces £1.5 million equity funding round\n \n \n \n \n \n Frontier IP, a specialist in commercialising intellectual property, today welcomes the following announcement from portfolio company Pulsiv Limited (or the \"Company\") that it has completed a £1.5 million fundraising through an equity funding round with new and existing investors to develop and scale up its energy-efficient power conversion technology.\n \n \n \n \n \n The fundraising values Pulsiv at £50 million pre money. Frontier IP invested £273,000, and holds an 18.3 per cent equity stake in the Company following this. \n \n \n \n \n \n As previously announced by the Group, Pulsiv completed a first closing of its fundraising in July 2022. The increase in the fair value of the Group's holding in Pulsiv as a result of the fundraising was reflected in Frontier IP's audited final results which were released on 27 October 2022.\n \n \n \n \n \n Pulsiv believes its groundbreaking technology significantly improves the energy efficiency of power supplies, battery chargers and LED lighting, and extracts much more energy from photovoltaic solar cells. Because it uses fewer components, it can be incorporated into more compact designs and is cost effective for manufacturers.\n \n \n \n \n \n The Company has made strong commercial progress. It has recently announced a collaboration with Salom Europe, a leading manufacturer of power supplies for consumer electronics. Pulsiv has also signed strategic distribution agreements with Digikey, the world's fifth largest electronic components distributor, and Astute Electronics, which will promote the technology to manufacturers in the UK, Germany, Israel, Turkey and Australia. The Company has also announced a pan-European representative agreement with ISMOsys Group, part of Astute.\n \n \n \n \n \n \n \n \n \n Neil Crabb, Frontier IP Chief Executive Officer, said:\n \n \n \"We believe Pulsiv will become a major green company. Converting power more efficiently means less energy is wasted, so the technology has the potential to cut carbon emissions, redu...