IP GROUP 
By November 20, 2012, Cambridge UK: Azuri is pleased to announce that it has raised capital from IP Group plc (LSE: IPO) ("IP Group") to continue the expansion of its Indigo pay-as-you-go home solar system in emerging markets.
IP Group, which commercialises intellectual property from universities, adds Azuri to its strong and diversified portfolio of holdings in 66 companies with a combined fair value of £168m (as at 22 October 2012). The investment highlights the burgeoning renewable energy market and potential for growth of Cambridge-based technology companies.
The investment comes three months after the Indigo pay-as-you-go solar technology, originally developed at Cambridge University spin-out Eight19, was formally separated into Azuri. Azuri was recently named 'Nobel Sustainability supported Clean Tech company 2012' - a title granted only to the most outstanding companies and initiatives within clean technology and sustainable energy. The company has also been named as one of 23 global "Technology Pioneer" companies by the World Economic Forum.
Azuri will use the investment to scale-up the deployment of its award-winning Indigo technology to bring power at scale to off-grid customers worldwide, providing basic needs that are regarded as routine in developed countries.
Robert Trezona, Business Development Director, IP Group said: "This is the second Cambridge start-up that we have backed, and we believe that Azuri could become one of the UK's leading renewable energy companies. The company's ingenious business model and talented and experienced team give strong reasons to believe in that future success."
Simon Bransfield-Garth, CEO Azuri, said: "We are delighted
to welcome IP Group as a shareholder of Azuri. IP Group
brings a tremendous depth of experience of funding
successful university spin-out companies and we look
forward to a long and fruitful partnership."
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Notes to Editors
About, Azuri (www.azuri-technologies.com)
Azuri Technologies is a product and service company that delivers affordable solar power in emerging markets. By combining solar and mobile phone technology, the company's Indigo product family enables users to benefit from clean renewable energy and simultaneously reduce their energy spend by as much as half. Azuri's objective is to bring power at scale to off-grid customers worldwide, providing basic needs that are regarded as routine in developed countries.
1.3 billion people worldwide lack access to electricity and are forced to burn fossil fuels for basic needs such as lighting. Historically the high up-front costs of solar have prohibited wider uptake of small solar systems in many parts of Africa and Asia. By combining solar and mobile phone technology, Indigo enables solar electricity to be delivered as a service using scratchcards for payment. Users begin with a system capable of 8 hours of fume-free lighting for two rooms and mobile phone charging, whilst immediately cutting their weekly spend on kerosene and mobile phone charging fees. Customers are able to grow their Indigo system over time to deliver lighting, media, communications and information, enabling families to access progressively more electricity and ultimately reach full home electrification.
For further information about Azuri please
contact:
Wanda Halbert, Marketing Manager, wanda.halbert@azuri-technologies.com
About IP Group plc (www.ipgroupplc.com)
IP Group is a leading UK intellectual property
("IP") commercialisation company, developing
technology innovations primarily from its research
intensive partner universities. The Group offers more than
traditional venture capital, providing its companies with
access to business building expertise, networks,
recruitment and business support.
The Company's portfolio comprises holdings in over 60
companies including Oxford Nanopore Technologies, the DNA
sequencing development company, Revolymer, best known for
its removable chewing gum and Xeros, which has received
many accolades for its revolutionary clothes washing
techniques with a much reduced requirement for water.
The portfolio includes early stage to mature businesses and
has exposure to five main sectors - Energy & Renewables,
Medical Equipment & Supplies, Pharma & Biotech, IT &
Communications and Chemicals & Materials. To date, fourteen
of the portfolio companies IP Group has backed have listed
on the AIM market of the London Stock Exchange and one on
PLUS Markets.
Founded in 2001, IP Group listed on AIM in October 2003 and
moved to the Official List in June 2006. The Group now has
long-term partnerships with twelve core universities
including those under its commercialisation agreement with
Fusion IP plc.
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