Reach - a non-regulatory announcement

AIM: FIPP

15 December 2025

Frontier IP Group Plc

("Frontier IP" or the "Group")

Portfolio news - Alusid raises £500,000 through pre-IPO funding round

Frontier IP, a specialist in commercialising intellectual property, today announces that portfolio company Alusid Limited ("Alusid" or the "Company") has raised £500,000 through a pre-IPO equity funding round.

The fundraising values the Company at £10 million and investors included existing backer, Octopus Investments ("Octopus"), through its Octopus AIM VCT plc and Octopus AIM VCT 2 plc funds, and the University of Lancashire. As part of the round, Frontier IP converted loans of £250k into equity. The Group now holds a 36.16% per cent equity stake in the Company.

Proceeds from the round will support the Company as it prepares for a potential IPO on AIM. They will also be used to accelerate development of further product ranges, expansion of its international distribution network and continued development of Alusid's proprietary low carbon tile manufacturing technology. This includes the Company's patented dry granulation process, which eliminates spray drying and delivers significant CO2 and water use reductions.

Alusid's sustainable tiles typically use more than 95 per cent recycled materials and its novel recipes and processes mean they have one of the lowest carbon footprints in the global ceramics industry.

The Company is also developing new product categories to broaden target markets and further strengthen its proposition ahead of an IPO. It is innovating to branch into moulded surface products, including shower trays, basins and architectural components using a novel mineral and alkali geopolymer based binder system designed to be made from UK waste streams. These new categories will broaden Alusid's addressable market and strengthen its proposition ahead of an IPO.

Market demand for Alusid's products continues to grow across both retail and commercial channels at home and abroad.

To date, Topps Tiles plc has launched two Alusid-made ranges, Principle and Mas through its UK retail chain of more than 300 stores, and a third called Ashton will launch early in 2026. The Company has also signed three international distribution agreements with Dutch sustainable materials specialist FRONT Materials BV, Italian firm 3D Wall Panels Italia, and most recently with one of Sweden's largest tile suppliers Kakelspecialisten, a subsidiary of Saint-Gobain.

Other customers include Starbucks EMEA and Topps Tiles plc in the UK, Topps Tiles commercial arm, Parkside Architectural Tiles, recently launched the Alusid-make Luca range, the first of the Company's products to use its own recycled glaze delivering its most recycled product yet at 99% recycled.

Dominic Weller, Fund Manager, Octopus Investments said: "We are proud to continue to support Dr Alasdair Bremer and the Alusid team as they build on their progress to date. Their mission to make sustainable tiles from recycled waste the industry standard remains compelling, and we look forward to supporting their next phase of growth."

Alasdair Bremner, Alusid's CEO said: "Closing this round marks another important step towards bringing Alusid to the public markets. We are seeing strong and growing demand from retailers and distributors across Europe for genuinely low-carbon tile ranges, and this investment will allow us to accelerate new product development and scale our distribution network with confidence. Our ambition is to demonstrate that sustainability and commercial performance can go hand in hand, and we are now well-positioned for the next stage of growth."

Frontier IP Chief Executive Neil Crabb said: "Alusid continues to go from strength to strength as the strong support from investors for this funding round shows. The Company is powering ahead internationally and in developing new branches of products as it continues to explore options for an IPO."

University of Lancashire, Deputy Vice-Chancellor, Ruth Connor said: "We're delighted that the University's first spin-out company has seen considerable success in its first 10 years and with this latest investment round we look forward to seeing the next stage of its growth."

ENQUIRIES

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 up in landfill.

The company's Sustainable Tile ranges are distributed in the UK by Topps Tiles and Parkside Architectural Tiles. Its products have garnered widespread industry acclaim and have won multiple awards over the years. The Mas floor tile range, launched last year, was shortlisted for Interior Surface of the Year at the Surface Design Awards 2025.

As well as Topps Tiles plc and Starbucks EMEA, Alusid's customers also include Amazon, Nando's, Pret A Manger, Selfridges, Harrods and the BBC.

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