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Fusion IP PLC (FIP)

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Wednesday 18 September, 2013

Fusion IP PLC

Portfolio Update

RNS Number : 2052O
Fusion IP PLC
18 September 2013
 



18 September 2013

 

FUSION IP PLC

("Fusion" or the "Company")

Fusion portfolio company Perlemax announces agreement with AECOM

to develop energy saving technology

 

 

Fusion IP (AIM: FIP), the university commercialisation company that turns world-class research into business, is pleased to announce that its portfolio company, Perlemax, a spin-out from the University of Sheffield, has entered into a licence agreement with AECOM. 

 

The agreement is to develop Perlemax's micro bubble energy-saving technology in the municipal waste water market. Waste water treatment accounts for 2% of the UK's electricity consumption, and the Perlemax technology has the potential of delivering energy savings of between 20 and 40% to each plant on which it is installed.

 

Perlemax's micro bubble generation is able to produce small bubbles using no additional energy and consequently improves the transfer of oxygen to the waste water. The technology has been on trial at two sites in the British Isles with highly encouraging results. The licence agreement enables AECOM to use its significant global reach to market and implement the technology with water treatment companies.

 

The financial terms of the agreement were undisclosed.

 

Brenda Franklin, Global Technologist for AECOM commented:

"AECOM values the longstanding relationship we have with Perlemax and the University of Sheffield and we are excited to now be at the stage to take this innovative energy saving technology to market. It will help our customers reduce their energy usage and carbon emissions which is an important goal for all of us."

 

Graeme Hitchen, Managing Director of Perlemax Ltd said:

"AECOM has been working with our technology for many years firstly through Sheffield University Enterprises Ltd then through Perlemax. They have been very supportive recognising the considerable potential our technology will make to their markets. It is an excellent example of the impact university-derived technologies can make to UK, global industry and the environment."

 

David Baynes, CEO of Fusion IP, commented:

"Perlemax is a business at an early stage of development, but is typical of the quality of the technologies emerging from our partner universities. Fusion IP is able to monitor and assist these new businesses in their early stages, making them ready for a larger investment at a later date."

 

Fusion owns a 35% shareholding in Perlemax.

 

For further information please contact:

Fusion IP plc

David Baynes, CEO

+44 (0) 114 275 5555

Stuart Gall, Director

 

 

Cenkos Securities plc

Elizabeth Bowman, Bobbie Hilliam (Corporate Finance)

+44 (0) 20 7397 8900

Julian Morse (Sales)

 

 

Media enquiries:

Allerton Communications

Peter Curtain

+44 (0) 20 3137 2500

 

About Fusion IP

 

Fusion IP plc (Fusion) was established in 2002 to commercialise university-generated intellectual property. It has long-term exclusive agreements with two of the UK's leading research-intensive universities, the University of Sheffield and Cardiff University, giving it exclusive access to all the IP generated by their research departments. These exclusive agreements enable Fusion to identify world class IP and turn it into a commercial opportunity, either through the creation of a start-up company or a licence.

 

Fusion IP currently owns shareholdings in over 20 portfolio companies, including significant shareholdings in Seren, Magnomatics, Phase Focus, MedaPhor, Asalus and Diurnal.

 

In 2012 Fusion IP announced its first major exit, when it sold its portfolio company Simcyp, a research-based business providing a modelling and simulation platform for predicting the fate of drugs in virtual populations, to US based Certara LP for $32 million, a 200-fold return on its original investment.

 

In March 2013 Fusion announced that it had raised £20 million through a Placing to existing and new institutional shareholders. Fusion also announced that it had signed agreements with two additional universities - the University of Nottingham and Swansea University.

 

For more information, visit www.fusionip.co.uk

 

About AECOM

 

AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation and technical excellence in delivering solutions that create, enhance and sustain the world's built, natural, and social environments. A Fortune 500 company, AECOM serves clients in more than 140 countries and had revenue of $8.2 billion during the 12 months ended March 31, 2013.

 

More information on AECOM and its services can be found at www.aecom.com.

 

About Perlemax's Professor Zimmerman

 

Professor Will Zimmerman holds the Chair of Biochemical Dynamical Systems at the University of Sheffield and is the founder of Perlemax Ltd., a spinout company from the University of Sheffield created to exploit the IP generated from his research program. He is a graduate of Princeton and Stanford universities in Chemical Engineering, the author of over 80 scientific publications, past Director of the M Sc in Environmental and Energy Engineering, and a winner in US and UK national competitions of four prestigious fellowships: 2005-6 Royal Academy of Engineering Senior Research Fellow; 2000-5 EPSRC Advanced Research Fellow; 1994-99 Royal Academy of Engineering; and Zeneca Young Academic Fellow. He received the 2010 Royal Society Innovation Award for energy efficient microbubbles by fluidic oscillation. He has been principal or co-investigator in research projects worth over £4.2 million since 1994 and supervised over 40 researchers directly. His Royal Academy of Engineering Self Review Framework, entitled Systems Biology and Chemical Engineering, has laid down a protocol for optimal experimentation for bioreactor model-building via inverse methods.

 

 


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