Reach - a non-regulatory announcement

AIM: FIPP

23 October 2023

Frontier IP Group Plc

("Frontier IP" or the "Group")

Portfolio news - new portfolio company Deakin Bio-Hybrid Materials

Frontier IP, a specialist in commercialising intellectual property, today announces it has taken a 32.8 per cent equity stake in Deakin Bio-Hybrid Materials Limited, ("DeakinBio" or the "Company").

DeakinBio has developed a technology, termed BioSintering®, to produce advanced bio-based materials from organic waste such as chickpea broth or algae, along with widely available inorganic powders such as crushed limestone. The bio-based materials have compositions similar to natural materials such as seashells and pearl. Initial applications are as sustainable alternatives to ceramic tiles, with the potential to reduce the carbon footprint of tile manufacture by up to 90 per cent.

Traditional ceramic tiles have a high carbon footprint because they need to be fired at high temperatures to harden (sinter) and glaze the products. Making one square metre of tiles can emit up to 16 kg of carbon dioxide. DeakinBio's BioSintering and BioGlazing processes remove the need for firing and glazing, and the ambition is to produce tiles with similar strength and functionality to their conventional equivalents but with a much lower carbon footprint - currently calculated at 0.92 kg of CO₂e emissions per square metre according to an independent Life Cycle Assessment. It is intended to make the tiles on industry-standard production lines.

BioSintering® and BioGlazing have been used to date to make materials based on the principles of combining biopolymers, water, and calcium carbonate particles to produce a biocomposite material after undergoing low-temperature processing. The inorganic material is currently powdered limestone, although DeakinBio is exploring the use of crushed seashells, a waste product from the seafood industry, as a source of calcium carbonate in the future.

The Company's first material, Fabalith®, combines calcium carbonate with a binder made from chickpea broth, a waste product from the food industry.

DeakinBio was founded in June 2021 by BioSintering® and BioGlazing inventor Dr Aled Roberts who is based at the Manchester Institute of Biotechnology, University of Manchester where he is a Research Fellow. Dr Roberts holds a PhD in Materials Chemistry from the University of Liverpool. He was lead researcher on the project to create StarCrete® - a new concrete-like material made from extra-terrestrial dust, potato starch and a pinch of salt, which could one day be used to build infrastructure in space.

The Company is also exploring the feasibility of new materials made from bio-manufacturing waste streams, such as microbial waste, after winning a £92,364 grant from Innovate UK.

DeakinBio won the £50,000 first prize in the University of Manchester's Eli Harari Graphene Enterprise Awards for 2022.

With its focus on developing new materials, partly made from organic waste streams, DeakinBio fits into Frontier IP's Materials, and Food and Agritech clusters. It is expected that there will be opportunities for the Company to share expertise with other portfolio companies, including: Alusid, which has developed complementary technology for sustainable building materials using recycled industrial waste, and; Nandi Proteins, which has extensive connections in the food industry and with potential sources of chickpea waste. Alusid's first mass-produced wall tile range, Principle, has recently been launched by Topps Tiles, the UK's no. 1 tile specialist, through its retail outlets.

More information is available on the Company's website: https://www.deakinbio.com/

DeakinBio Founder Dr Aled Roberts said: "We are delighted to be partnering with Frontier IP to help us accelerate the commercialisation of our exciting technologies. With their proven track record of success and expertise in technology transfer, we are confident that this collaboration will help us bring our cutting-edge solutions to the market and create real-world impact."

Neil Crabb, Frontier IP Chief Executive Officer, said: "We are excited about the potential of DeakinBio and its novel biocomposites, not just in the tile industry, but in other sectors too. The company fits very well into our Materials, and Food and Agritech clusters and is already sharing expertise and knowledge with other companies in our portfolio. We are looking forward to working with Aled and the DeakinBio team and supporting them to future success. "

ENQUIRIES

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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