IP Group leads funding round

RNS Number : 0982R

IP Group PLC

16 August 2010

 



16 August 2010

IP Group plc leads funding round in University of Cambridge cleantech spin-out

IP Group plc (LSE: IPO) ("IP Group"), the developer of intellectual property based businesses, is pleased to announce that it has led a funding round in University of Cambridge clean technology spin-out company Amantys Limited ("Amantys" or "the Company").

Amantys is developing power electronics products that are suitable for numerous clean technology markets, offering energy efficiency with increased reliability and reduced costs. Amantys' first product will be focused on increasing reliability and reducing cost in wind turbine converters. The technology is based on award-winning research and development work carried out by Dr Patrick Palmer at the University of Cambridge's Department of Engineering.

Alan Aubrey, Chief Executive of IP Group,said: "We are very pleased to have completed this investment in Amantys, our first investment in a spin-out from the University of Cambridge, which we believe has very exciting technology addressing a large market and is supported by a strong management team."

Amantys is chaired by Pete Magowan, who was a main board director of ARM Holdings plc, while its two other directors, Bryn Parry, Managing Director, and Mark Snook, Technical Director, also held senior management roles within ARM.

Further information will be disclosed in due course.

For more information, please contact:

IP Group	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer	[phone]
Liz Vaughan-Adams, Communications	[e-mail] [phone] /[phone]
Financial Dynamics
Ben Atwell, John Dineen	[phone]

About IP Group

IP Group is an intellectual property (IP) commercialisation company that specialises in commercialising university technology. Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. It has made two acquisitions to date - Techtran, a company set up to commercialise university intellectual property under a long term contract with the University of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early stage technology venture capital funds, in 2004.

IP Group has formed long-term partnerships with ten universities - the University of Oxford, King's College London, CNAP/University of York, the University of Leeds, the University of Bristol, the University of Surrey, the University of Southampton, Queen Mary (University of London), the University of Bath and the University of Glasgow.

The Company's portfolio is diverse with exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, thirteen portfolio companies have listed on the AIM market of the London Stock Exchange, one on PLUS Markets and there have been four trade sales.

For more information, please visit our website at www.ipgroupplc.com.

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