Pulsiv appoints Adam Westcott as CFO

RNS Number : 8553B

Frontier IP Group plc

15 June 2021

 

Reach - a non-regulatory announcement

AIM: FIPP

15 June 2021

Frontier IP Group Plc

("Frontier IP" or the "Group")

Portfolio news - Pulsiv appoints Adam Westcott from AMTE Power as Chief Financial Officer

Frontier IP, a specialist in commercialising intellectual property, today announces that portfolio company Pulsiv (or the "Company") has appointed Adam Westcott as Chief Financial Officer.

Adam has more than 20 years' experience in finance at senior levels for both entrepreneurial growth businesses and in investment banking, where he advised small and large companies working on equity, debt and mergers and acquisitions.

He is joining Pulsiv from AMTE Power plc, ("AMTE Power"), an AIM-quoted developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets, where he was Chief Financial Officer for more than three years. AMTE Power listed earlier this year through a successful and oversubscribed placing. Prior to this, he has held a number of finance director roles with entrepreneurial growth companies and previously worked in investment banking where he advised on a significant number of IPOs and M&A transactions. Adam is qualified by the Chartered Institute of Management Accountants and has a Master of Engineering degree from the University of Oxford.

Adam will join Pulsiv later this year when he has completed his notice period for AMTE.

Adam is the latest in a series of senior management appointments Pulsiv has made in moves to accelerate development, prepare for scale up and deploy its unique power conversion technology. The Company has recently announced the appointments of Darrel Kingham as Chief Executive Officer and Dr Zaki Ahmed as Chief Strategy Officer, who joined full time from his post as Associate Professor at the University of Plymouth. Dr Tim Moore, Executive Vice President of Shark Robotics, part of SharkNinja, has also joined the Pulsiv Board of Directors as a non-executive director.

With a mission to "Make the most efficient use of electricity wherever it is converted", Pulsiv solutions will enhance a broad range of mains-powered products, battery chargers, lighting applications and also extract more power from photovoltaic solar cells. The Company is collaborating with Bosch on a solar microinverter.

Darrel Kingham, Pulsiv Chief Executive Officer, said: "Adam is a welcome and valuable addition to my leadership team. His financial credentials, operational experience and strategic mindset will help to deliver commercial success and support our global ambitions."

Neil Crabb, Frontier IP Chief Executive Officer, said: "Adam has a very strong background in finance and involvement in entrepreneurial early-stage companies, from an investment perspective as well as being a board member. His decision to join Pulsiv at such an important stage in its development provides strong validation of the Company's technology and the strategy Darrel has put in place."

ENQUIRIES

Frontier IP Group Plc	T: 020 3968 7815
Neil Crabb, Chief Executive Andrew Johnson, Communications & Investor Relations Company website: www.frontierip.co.uk	[e-mail] M: 07464 546 025
Allenby Capital Limited (Nominated Adviser) Nick Athanas / George Payne	T: 0203 328 5656

ABout frontier IP

Frontier IP unites science and commerce by identifying strong intellectual property and accelerating its development through a range of commercialisation services. A critical part of the Group's work is involving relevant industry partners at an early stage of development to ensure technology meets real world demands and needs.

The Group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.

Frontier IP is the commercialisation partner for the University of Plymouth.

ABOUT THE UNIVERSITY OF PLYMOUTH

The University of Plymouth is renowned for high quality, internationally leading education, research and innovation.

With a mission to Advance Knowledge and Transform Lives, Plymouth is a *top 50 research university with clusters of world class research across a wide range of disciplines including marine science and engineering, medicine, cybersecurity and psychology. A three-time winner of the Queen's Anniversary Prize for Higher and Further Education, most recently in 2020 in respect of its pioneering research on microplastics pollution in the oceans and its impact on the environment and changing behaviour, the University continues to grow in stature and reputation.

It has a strong track record for teaching and learning excellence and has one of the highest numbers of National Teaching Fellows of any UK university. With over 19,000 students, and a further 9,500 studying for a Plymouth degree at partner institutions in the UK and around the world, and over 135,000 alumni pursuing their chosen careers globally, it has a growing global presence.

http://www.plymouth.ac.uk

* Research Fortnight Research Power League Table 2014.

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