Frontier IP Group (FIPP)

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 39.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 56.00p
  • 52 Week Low: 29.00p
  • Currency: UK Pounds
  • Shares Issued: 56.17m
  • Volume: 2,561
  • Market Cap: £21.91m

Frontier IP investment completes initial trials of raspberry-picking robot

By Josh White

Date: Tuesday 28 May 2019

LONDON (ShareCast) - (Sharecast News) - University intellectual property commercialisation specialist Frontier IP Group announced on Tuesday that its portfolio company, Fieldwork Robotics, has completed initial field trials of its robot raspberry harvesting system.
The AIM-traded firm said it holds 27.5% of Fieldwork Robotics.

It said data from the trials would be used to refine and improve the prototype system before further field trials were held later this year.

If the trials were successful, then manufacturing of a commercial system was expected to begin in 2020.

The trials were held in West Sussex at a farm owned by Fieldwork's industry partner, UK soft-fruit grower Hall Hunter Partnership, which supplies Marks & Spencer, Tesco and Waitrose.

It said the move followed University of Plymouth spin-out Fieldwork being awarded a £547,250 Innovate UK grant earlier this year towards a £671,484 project to develop a multi-armed robot prototype.

Other partners included the University of Plymouth and the National Physical Laboratory.

Frontier IP provided Fieldwork with support for engineering and software development, fundraising and industry partnerships.

The company was incorporated to develop and commercialise the work of Dr Martin Stoelen, lecturer in robotics at the university's School of Computing, Electronics and Mathematics.

Fieldwork was reportedly focussed initially on raspberries because they were hard to pick, being more delicate, more easily damaged than other soft fruits, and growing on bushes with complex foliage and berry distribution.

Once the system was proven to work with raspberries, then it could be adapted readily for other soft fruits and vegetables.

"We are delighted with the progress Fieldwork is making in developing a raspberry-harvesting robot system," said Frontier IP chief executive officer Neil Crabb .

"Completing these field trials is an important milestone in commercialising the technology, and we are looking forward to the next round of tests in the autumn."

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FIPP Market Data

Currency UK Pounds
Share Price 39.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 56.00p
52 Week Low 29.00p
Volume 2,561
Shares Issued 56.17m
Market Cap £21.91m

FIPP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
34.36% above the market average34.36% above the market average34.36% above the market average34.36% above the market average34.36% above the market average
40.66% above the sector average40.66% above the sector average40.66% above the sector average40.66% above the sector average40.66% above the sector average
Price Trend
37.78% below the market average37.78% below the market average37.78% below the market average37.78% below the market average37.78% below the market average
48.98% below the sector average48.98% below the sector average48.98% below the sector average48.98% below the sector average48.98% below the sector average
Income Not Available
Growth
94.03% above the market average94.03% above the market average94.03% above the market average94.03% above the market average94.03% above the market average
93.68% above the sector average93.68% above the sector average93.68% above the sector average93.68% above the sector average93.68% above the sector average

FIPP Dividends

No dividends found

Trades for 06-Sep-2024

Time Volume / Share Price
13:57 125 @ 39.96p
10:10 5 @ 39.96p
08:04 2,031 @ 40.00p
08:02 400 @ 40.00p

FIPP Key Personnel

CEO Neil Crabb
CFO Jo Stent

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