TIDMTEK
RNS Number : 0692W
Tekcapital plc
14 August 2015
Tekcapital plc
("Tekcapital" or "the Company")
Acquisition of licencing rights to air conditioning efficiency
patents
Tekcapital plc (AIM: TEK), an international provider of
technology and intellectual property services, announces that it
has acquired the exclusive worldwide licencing rights to a
portfolio of nine patents for the improvement of air conditioning
efficiency from the University of Central Florida. The technology
is aimed at improving the efficiency of central air conditioning
systems and is designed to achieve up to a 25% efficiency
improvement in condenser fan operations, compared with existing air
conditioning units.
The system incorporates a condenser fan design that is based on
aircraft propeller design elements. The blades can also include an
air-foil for improving the airflow efficiency and can also be
configured to reduce noise. This technology portfolio has the
potential to be incorporated into both new and existing air
conditioning systems.
This intellectual property portfolio was developed and tested at
the Florida Solar Energy Center (FSEC), a research institute of the
University of Central Florida. The Center is staffed with world
renowned researchers and scientists with expertise in engineering,
energy research, building science, energy and policy analysis, and
education and training.
The Directors believe that this technology portfolio represents
an important, energy efficiency enhancement for air conditioning
systems with the potential for market adoption via
out-licensing.
Industry potential
According to the Air Conditioning, Heating, and Refrigeration
institute, there were 4,499,660 central air-conditioning units sold
in the United States in 2014.
The Directors believe that the central air conditioning energy
efficiency improvements contemplated in the licensed portfolio may
become the condenser fan design of choice, and could gradually
replace the relatively flat blade design that is currently used
globally.
Svetlana Shtrom, Ph.D., Director, Office of Technology Transfer,
University of Central Florida, added:
"We are pleased to have licensed this excellent portfolio of
energy efficient air conditioning patents to Tekcapital, an
international provider of technology and intellectual property
services. We are very excited about the potential for this
technology to improve existing central air conditioning systems and
empower the next generation of improved products."
Commenting on the announcement, Clifford M. Gross, Ph.D.,
Executive Chairman of Tekcapital plc, said:
"We are excited to have agreed to acquire the exclusive license
to this important portfolio of patents from the University of
Central Florida. We look forward to working towards commercializing
this technology with leading, forward thinking technology companies
that can benefit from improving their products with these advanced
energy efficient, air conditioning technologies."
Tekcapital will issue 69,800 new ordinary shares of 0.4p each
("Consideration Shares") to the University of Central Florida
Research Foundation as the consideration for the acquisition of the
exclusive license to this portfolio of nine patents.
Application will be made for the Consideration Shares to be
admitted to trading on AIM, which is expected to become effective
on or around 21 August 2015. The Consideration Shares will rank
pari passu with the Company's existing ordinary shares in
issue.
Following the issue of the Consideration Shares later this
month, Tekcapital will have in issue 34,748,339 ordinary shares of
0.4p each with one voting right each ("Ordinary Shares"). The
Company does not hold any Ordinary Shares in treasury. Therefore
the total number of Ordinary Shares and voting rights in the
Company will be 34,748,339. This figure may be used by shareholders
in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest
in, or a change to their interest in, the share capital of the
Company under the FCA's Disclosure and Transparency Rules.
About Tekcapital - The World's Largest University Network for
Open Innovation
Tekcapital helps clients profit from new, university-developed
intellectual properties. With our proprietary discovery search
engine, linked to 4,000+ universities in 160 countries, coupled
with expert scientific review, we provide a turn-key service to
make it easy for clients to find and acquire the IP they need to
create a competitive advantage. Tekcapital plc is listed on the AIM
market of the London Stock Exchange (AIM: symbol TEK) and is
headquartered in Oxford, in the UK. For more information, please
visit www.tekcapital.com
About the University of Central Florida
The University of Central Florida is the second-largest
university in the U.S. With more than 60,000 students, it has grown
in size, quality, diversity and reputation, and today the
university offers more than 200 degree programs at its main campus
in Orlando and more than a dozen other locations. Known as
"America's Leading Partnership University(R)", UCF is an economic
engine attracting and supporting industries vital to the region's
success now and into the future. For more information, visit
http://today.ucf.edu.
Notes
----------------------------------------------------
1. List of Exclusively Licensed Patents
1. High Efficiency Air Conditioner Condenser Fan 7,014,423
2. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 510,998
3. High Efficiency Air Conditioner Condenser Fan with Performance Enhancements 7,249,931
4. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 539,413
5. High Efficiency Air Conditioner Condenser Fan DIV 7,568,885
6. High Efficiency Air Conditioner Condenser Fan with Performance Enhancements 7,618,233
7. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 555,782
8. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 566,263
9. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 566,829
2. Cited Reference
http://www.ahrinet.org/site/496/Resources/Statistics/Historical-Data/Central-Air-Conditioners-and-Air-Source-Heat-Pumps
For further information please contact:
Tekcapital Plc +1 305 200 3450 Ext 305
Clifford M. Gross, Ph.D. info@tekcapital.com
Allenby Capital Limited (Nominated Adviser
& Joint Broker) +44 (0)20 3328 5656
Jeremy Porter / Alex Brearley
Optiva Securities Limited (Joint Broker) +44 (0) 20 3137 1904
Jeremy King / Vishal Balasingham jeremy.king@optivasecurities.com
Walbrook PR Ltd +44 (0) 20 7933 8780
Paul Cornelius / Paul McManus tekcapital@walbrookpr.com
University of Central Florida +1 407 882 0593
Narasimha Nagaiah, Ph.D. raju@ucf.edu
This information is provided by RNS
The company news service from the London Stock Exchange
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