Frontier IP Group PLC has announced that its portfolio company, GraphEnergyTech, has successfully raised £1 million in its first external equity funding round. The investment was led by Aramco Ventures, the corporate venturing arm of Aramco, a leading integrated energy and chemicals company. The funds will be utilized to expedite the development and scaling up of GraphEnergyTech's advanced high-conductivity graphene electrodes, with initial applications in solar cells, where graphene can replace silver electrodes. This is significant as the demand for solar power is rising, and global reserves of silver could be exhausted by 2050. The technology also offers a more cost-effective and environmentally friendly alternative to silver electrodes.
GraphEnergyTech's technology has potential applications in various sectors, including batteries, supercapacitors, LED lighting, and displays. The company was co-founded by renowned scientists, Professor Michael Grätzel and Professor Andrea Ferrari, along with Frontier IP. Professor Grätzel, in particular, is recognized for his significant contributions to the field and holds numerous patents resulting from his research.
Dr. Thomas Baumeler, CEO of GraphEnergyTech, expressed satisfaction with the fundraising results, emphasizing that the investment from Aramco Ventures will propel the development of their advanced graphene electrodes. Frontier IP's Chief Executive, Neil Crabb, highlighted the significance of the investment from Aramco Ventures, stating that it represents a strong endorsement of GraphEnergyTech's technology and its electrode quality, underscoring the company's potential.
Frontier IP Group PLC specializes in commercializing intellectual property and plays a pivotal role in identifying strong intellectual property and accelerating its development through various commercialization services. The company actively involves relevant industry partners at an early stage of development to ensure that the technology meets real-world demands and needs. Additionally, Frontier IP looks to build and grow a portfolio of equity stakes and license income by taking an active involvement in spin-out companies, including support for fundraising and collaboration with relevant industry partners at an early stage of development.
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