Reach - a non-regulatory announcement

AIM: FIPP

09 May 2023

Frontier IP Group Plc

("Frontier IP" or the "Group")

Portfolio news - Topps Tiles launches first Alusid-made wall tile range

Frontier IP, a specialist in commercialising intellectual property, today announces that portfolio company Alusid Limited ("Alusid" or the "Company") has launched its first range of mass-produced wall tiles made from its sustainable materials with Topps Tiles, the retail arm of Topps Tiles Plc (or "Topps Group"), the UK's no.1 tile specialist.

A first range of wall tiles has already been launched exclusively in UK retail by Topps Tiles and is now available in four colours online and in store. Called Principle, the tiles are made on industry-standard mass production equipment from a minimum of 91 per cent recycled industrial waste, one of the highest levels in the global tile industry.

The industrial waste used includes tile dust, tableware production sludge, glass and ceramics and much of this has no other use and is sent to landfill. Using recycled material also means fewer raw materials, such as clay, feldspar and quartz, need to be mined. Each square metre of Principle tiling saves 8kg of waste from landfill and 14kg of raw material from extraction.

Because Alusid's patented recipes and methods remove processing stages during manufacture, the Principle tiles are made using 23 per cent less gas during production than the processes used to make the equivalent type of tile.

Alusid's products have attracted significant industry interest. Following a collaboration with Imerys, a global leader in speciality minerals, the Company is now trialling mass production of hard-wearing floor tiles, which comprise some 60 per cent of the total tile market in the UK, according to MTW Research.

As well as Topps Tiles, customers of Alusid include Starbucks, Pret a Manger, H&M, the BBC and the Stonehenge Visitor Centre, run by English Heritage. The Topps Tiles agreement builds on the existing relationship with Parkside, the commercial arm of Topps Group, which is also selling Principle and a hand-made range, Sequel.

Frontier IP holds a 37.5 per cent equity stake in the Company.

Tim Tatlock, Buying Director Topps Tiles, said: "The Alusid-made Principle range combines high-quality and good looks with a level of recycled content among the highest in the industry. We believe they will prove popular with our customers. Backing innovative suppliers, such as Alusid, to support recycling and circularity, is an important part of our goals to achieve environmental leadership in the sector and our aim to be carbon neutral in 2030 with regards to scope 1 and 2 as set out in the Greenhouse Gas Protocol. This is only the start of our relationship with Alusid, and we look forward to developing new products with the company in the years to come."

Alasdair Bremner, Alusid's CEO said: "The launch of Principle with Topps Tiles is a huge step forward for Alusid into mass production and scalability and is the result of many years hard work from our team. We're excited about the potential this unique partnership with the UK's leading tile retailer holds in the coming years, and to working with the company to reduce the environmental impact of the ceramic tile industry."

Frontier IP Chief Executive Neil Crabb said: "Alusid's agreement with Topps Tiles represents strong validation of the Company's technology and the high quality of the tiles produced - and at industrial scale. We are very excited by the company's potential, given the size of the global tile market, successful trials of mass-made floor tiles and the unique nature of the patented technology."   

ENQUIRIES

ABOUT TOPPS GROUP

Topps Tiles' retail omni-channel brand is the UK's number one tile specialist with more than 300 stores across the UK. The brand has seen another record-breaking sales year alongside a customer sentiment growth of 1.2% (now averaging a leading OSAT score of over 90%) and a market share of 19%. The brand is firmly on track to reach the Group's strategic goal of 1 in 5 by 2025 whilst working to become carbon neutral by 2030.

For more information, please visit http://www.toppstiles.co.uk.

ABOUT ALUSID

Alusid creates beautiful, premium-quality tiles and architectural surfaces by recycling industrial waste ceramics, glass and other materials much of which would otherwise end in landfill.

The company's Sequel ranges are distributed exclusively by Parkside Architectural Tiles, the commercial arm of Topps Tiles. Sequel Vibe was named Wall Tile of The Year in The Tile Association's prestigious awards in 2020.

Alusid also makes its own products under the brand name SilicaStone distributed in the UK by Panaz. Customers include COS, part of H&M, Christian Dior, Nando's, Harrods, Selfridges, Amazon UK and Pret-a-Manger.

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.

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