Pulsiv Solar Limited (“Pulsiv” or the “Company”) has continued to make strong commercial and technical progress with its patented technology to improve the energy efficiency of the power converters used in a host of everyday products.
The Company, in which Frontier IP holds an 18.9 per cent equity stake, also announces that it is presently in discussions with investors to raise further funding which, if completed, would be at a significant premium to the current book value at which it is held by the Group.
It is expected that any increase in the Company’s book value will be reflected in the Group’s results to 30 June 2020. This potential fundraising has been launched following successful demonstrations of the Company’s technology for use in a wide range of industrial applications.
- Started design work funded by a major multinational to incorporate the technology into a new product line
- Engaged in discussions with a number of other large multinational companies about a wide range of further industrial applications
- Filed a further two priority patent applications on top of the one filed late last year. The Company now has eight separate patent families, five of which have progressed to grant, across all major territories worldwide, reflecting the significant amount of development undertaken and the strength of the intellectual property position underpinning it.
The step change in industrial engagement follows the Company, a spin out from the University of Plymouth, successfully developing a series of demonstration products which show the technology not only improves energy efficiency but has the potential to reduce costs.
Technology with a wide range of applications
Pulsiv’s technology has very broad applicability because it improves the efficiency with which alternating current, AC, is converted into direct current, DC, and vice versa. Power conversion is a ubiquitous requirement in electrical products. While electricity supply is AC, the electronics in most devices and household goods operate using DC at a number of different voltages; conversely, in power generation, photovoltaic solar cells generate DC electricity, but this needs to be converted into AC to be exported onto the grid or used in the home.
The demonstration products have included an LED driver to demonstrate mains AC being converted to device DC, a power tool battery charger, and solar microinverter for use with photovoltaic solar cells.
Robert Bosch Limited, part of Bosch, has been working with Pulsiv to optimise the design of the Company’s energy-efficient solar microinverter prototype. When the prototype moves into full-scale commercial production, it will allow Pulsiv to market microinverters as “Engineered by Bosch”.