Frontier IP Group (FIPP)

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 41.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 59.00
  • 52 Week Low: 33.00
  • Currency: UK Pounds
  • Shares Issued: 56.17m
  • Volume: 38,020
  • Market Cap: £23.31m

Frontier IP subsidiary wins grant for raspberry-picking robot

By Duncan Ferris

Date: Monday 01 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Frontier IP's portfolio company Fieldwork Robotics on Monday won a UK government Innovate UK Industrial Strategy Challenge Fund grant to accelerate development of its raspberry-harvesting robot system.
The portfolio company, which is a spin out from the University of Plymouthm was awarded grant funding of £547,250 towards its £671,484 project to create a multi-armed mobile robot prototype, which is intended to be adapted readily for other soft fruits and vegetables after optimisation for raspberries is achieved.

Martin Stoelen, founder and director of Fieldwork Robotics, said: "We are delighted with this grant award from Innovate UK and the Industrial Strategy Challenge Fund, which will help us bring forward the day when our robot system will be harvesting berries in the field."

A statement from Frontier IP said robot technology is attracting increasing interest from agriculture businesses to address long-term structural decline in labour, an issue which has been brought into sharper focus in the UK by Brexit.

AIM traded outfit Frontier IP holds a 27.5% stake in the Fieldwork Robotics, which has also received backing for the project through a collaboration agreement with UK soft-fruit grower, Hall Hunter Partnership, a supplier to Marks & Spencer, Tesco and Waitrose.

Neil Crabb, chief executive of Frontier IP, said: "The government has identified robotics and artificial intelligence as key sectors to support as part of its industrial strategy launched last year. Fieldwork Robotics' technology has the potential to play an important role in improving agricultural productivity. We're very pleased with this award, which provides further validation of the technology it is developing."

Fieldwork Robotics is expected to seek further funding from institutional and private investors during 2019.

Frontier IP's shares were down 1.95% at 80.40p at 1544 GMT.

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FIPP Market Data

Currency UK Pounds
Share Price 41.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 59.00
52 Week Low 33.00
Volume 38,020
Shares Issued 56.17m
Market Cap £23.31m

FIPP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.06% above the market average36.06% above the market average36.06% above the market average36.06% above the market average36.06% above the market average
53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average
Price Trend
46.38% below the market average46.38% below the market average46.38% below the market average46.38% below the market average46.38% below the market average
61.22% below the sector average61.22% below the sector average61.22% below the sector average61.22% below the sector average61.22% below the sector average
Income Not Available
Growth
93.28% above the market average93.28% above the market average93.28% above the market average93.28% above the market average93.28% above the market average
93.94% above the sector average93.94% above the sector average93.94% above the sector average93.94% above the sector average93.94% above the sector average

FIPP Dividends

No dividends found

Trades for 24-May-2024

Time Volume / Share Price
16:39 25,000 @ 40.00p
12:08 3,000 @ 40.65p
11:58 20 @ 42.70p
10:35 10,000 @ 41.88p

FIPP Key Personnel

CEO Neil Crabb
CFO Jo Stent

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