UK intellectual property commercialisation firm Frontier IP has taken a 30% stake in a newly formed spin-out company from the University of Central Lancashire, a UK university.
Frontier IP also expects to receive licensing income from the business. The unnamed companyis being formed out of the university’s Silicate Research Unit.
David Binns, from the Silicate Research Unit, said: "We are delighted our innovative research is being taken out into the wider world. Our new products have the potential to make a real difference in the sustainable use of previously problematic waste materials."
Professor Margaret Bruce, from UCLan, said: "By working together we will be able to bring innovative products to market."
Neil Crabb, chairman of Frontier IP, said: "This collaboration with the University of Central Lancashire represents an exciting new opportunity for Frontier IP. We have in-depth experience in commercialising university IP and we look forward to working with UCLan to maximise the potential of the Silicate Research Unit’s cutting-edge product.
