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Frontier IP takes 24% stake in Cambridge Material Testing Solutions

CMTS is developing software and hardware that can quickly, easily and more cost efficiently measure the strength and remaining work life of a metal component

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If you operate an oil rig, it’s important to know if your nuts and bolts are close to failing

University technology incubator Frontier IP Group Plc (LON:FIPP) has taken a 24% stake in Cambridge Material Testing Solutions.

CMTS is developing new software and hardware to measure the material characteristics of critical metal components, such as how hard or stiff they are and their remaining working life.

Existing test equipment is bulky and can only be used in a laboratory, so CMTS is building customised systems which allow for mobile and remote testing on site.

READ: Strong growth in portfolio value for Frontier IP

It is also developing a suite of software tools which can process data generated by existing test equipment and convert it into easily understood information about a metal component’s strength.

The technology has a wide range of applications in several sectors, including in the aerospace, nuclear, and oil and gas industries where the degradation and component life assessment of something as simple as a bolt is critically important.

“Frontier IP is delighted to be working with Dr James Dean [CMTS’s chief technology officer] and his team to help accelerate the commercialisation of this exciting technology,” said Frontier IP chief executive Neil Crabb.

“We believe Cambridge Material Testing Solutions could prove invaluable to companies in critical sectors which need to ensure the materials they use are safe and robust.”

No financial details of the acquisition were given.

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Price: 55.5 GBX

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