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03 June 2009
A unique University spin-out company developing technology which will improve the efficiency of communications devices and help cut CO2 emissions has received a £1M equity cash boost.
Finance Wales plc and Fusion IP plc are each investing £375,000 in equity alongside £250,000 from the ERA Foundation into Mesuro Ltd, a spin-out company from the University’s School of Engineering.
Mesuro Ltd is an early stage company which develops new approaches for the mobile communications industry. Mesuro's technology has been developed as a result of over a decade’s research at the University's High Frequency and Communications Engineering Research Group at the School of Engineering.
The research group works with many of the leading companies in the communications field to address significant technical challenges through fundamental research.
Richard Emsley, Chief Executive Officer of Mesuro Ltd said: "Given the tough economic climate we are delighted to receive such a significant cash injection. This funding will enable Mesuro to utilise the knowledge and expertise from Cardiff University."
Modern mobile phones contain a number of wireless applications, such as Bluetooth, WiFi and the phone itself. All these technologies rely on power amplifiers to broadcast the signal and are notoriously power hungry components. Mesuro’s technology allows the mobile phone manufacturer to make their power amplifiers operate closer to theoretical maximum efficiency, something which has not previously been possible.
Richard Emsley added: "For the mobile phone user this new technology could mean increased battery life and the ability to put new applications on the same device without an excessive drain on power. For the mobile phone companies it means reduced power consumption and lower electricity bills, and for the planet it means lower CO2 emissions."
In January 2007, Fusion IP completed a long-term exclusive agreement with the University, to commercialise the University's research-generated Intellectual Property (IP). Fusion IP also has a Memorandum of Understanding with Finance Wales, the provider of commercial funding to Wales-based SMEs, which outlines a strategy of co-investment in opportunities arising from the University agreement.
Dominic Griffiths, Commercial Manager at Fusion IP said: "Being the first spinout from Engineering since the deal with Fusion was signed in 2007, this is a significant landmark. Our strong relationship with Finance Wales is also helping us establish businesses rapidly and provide meaningful funding from day one.
"We first identified this opportunity in November 2008, and within six months have a new company with £1m funding and a product that will be launched in June. We hope that this will stimulate interest from other academics at the University who have great technologies that could become great businesses".
Dr Johannes Benedikt, School of Engineering and Chief Technology Officer for Mesuro Ltd said: "Already within the short time frame we have established links between University research and spin-out activity.
"We've been surprised by the unprecedented levels of interest from internationally leading companies to push new scientifically-accredited technology into the market which is also acting as a catalyst for new research collaborations."
Picture caption: (Left to right) Dr Johannes Benedikt, School of Engineering and Chief Technology Officer Mesuro Ltd, Richard Emsley – Chief Executive Officer, Mesuro Ltd, Dominic Griffiths - Commercial Manager, Fusion IP and Ann Casey - Investment Executive, Finance Wales plc
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