Update re Investee Company
Frontier IP Group Plc has announced that the European Commission has approved a €211 million Italian government grant for CamGraPhIC, an SME and wholly owned subsidiary of Frontier IP's portfolio company, 2D Photonics SpA. This significant grant will support the development of photonic optical transceivers based on graphene, a technology that could positively impact Frontier IP's valuation and future prospects. The company expects to provide further market updates shortly regarding this development.
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Frontier IP, a specialist in commercialising intellectual property, notes the movement in its share price and confirms that it has become aware that the European Commission has approved, under EU State aid rules, a €211 million Italian measure to support the development of photonic optical transceivers based on graphene by CamGraPhIC, an Italian SME. Camgraphic is a wholly owned subsidiary of Frontier IP's portfolio company, 2D Photonics SpA.
The decision has been published here https://ec.europa.eu/commission/presscorner/detail/en/mex_26_787 and Frontier IP expects to update the market shortly with further details.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.