Reach - a non-regulatory announcement

AIM: FIPP

24 May 2024

Frontier IP Group Plc

("Frontier IP" or the "Group")

Portfolio news - Topps Group's Parkside arm launches Alusid floor tile range

Frontier IP, a specialist in commercialising intellectual property, today announces that portfolio company Alusid Limited ("Alusid" or the "Company") has launched its first range of floor tiles through Parkside Architectural Tiles ("Parkside"), the commercial arm of Topps Tiles Plc ("Topps Group" or "Topps").

Called Mas, the range is made from between 95 per cent and 98.5 per cent recycled content, depending on the colour, and has one of the lowest carbon footprint of tiles in the market*. This is an important consideration for a construction industry and its customers facing carbon taxes and tougher environmental regulations, and having to meet their own sustainability targets. Topps is expected to launch the range to retail customers later this year.

Floor tiles represent about 60 per cent of the total tile market. Mas tiles have been extensively tested, are hardwearing and have porcelain grade breaking strength. They are mass manufactured on industry-standard equipment, and production is sub-contracted.

Earlier this month, the Alusid-made Principle range, launched into the Topps retail chain last year, was named Wall Tile of The Year by The Tile Association at its annual awards.

Alusid raised £1.13 million from new and existing investors in January 2024, including a £500,000 investment from Octopus Investments through its Octopus AIM VCT 1 plc and Octopus AIM VCT 2 plc funds. The Company is now progressing with plans for an initial public offering later this year.

Other Alusid customers include Starbucks EMEA, H&M, Pret a Manger and the BBC. The Company is in discussions with potential distributors in Northern Europe to expand into new territories.

Topps Group Buying Director Tim Tatlock said: "Mas achieves market leading levels of innovation in recycled content floor tiles and has been enabled by the Alusid and Topps Group partnership. We are on a journey to place more sustainable tiling products into the market, something we are incredibly excited about as part of The Topps Group's strategic commitment to Environmental Leadership in our sector."

Alasdair Bremner, Alusid's CEO, said: "Launching Mas is a major milestone for Alusid and is the result of nearly two years of hard work from our R&D team in the UK and our production partners in Spain, we are proud to be bringing this range to the market and to have achieved such a considerable reduction in the carbon footprint of our first floor tile."

Frontier IP Chief Executive Neil Crabb said: "We are delighted that Alusid has successfully developed and launched its first range of floor tiles, which form a major part of the overall tile market. This is a big step forward for the Company and is sure to strengthen its appeal to investors as it explores an initial public offering."   

*Mas carbon footprint is 5.90kg per m²  and is 45% lower carbon compared to the average Spanish tile as established by the Spanish Tile Manufacturers Association EPD. Alusid's carbon footprint was established by the Materials Processing Institute who independently conducted a Life Cycle Analysis on Alusid's dry granulation process. The Environmental Product Declaration (EPD) produced is currently proceeding through verification and is expected to be published by July 2024.   

ENQUIRIES

ABOUT ALUSID

Alusid creates beautiful, premium-quality tiles and architectural surfaces by recycling industrial waste ceramics, glass and other materials much of which would otherwise end in landfill.

The company's Sustainable Tile ranges are distributed in the UK by Topps Tiles and Parkside Architectural Tiles. Sequel Vibe was named Wall Tile of The Year in The Tile Association's prestigious awards in 2020.

Alusid also makes its own surface products under the brand name SilicaStone distributed in the UK by Panaz. Customers include COS, part of H&M, Christian Dior, Nando's, Harrods, Selfridges, Amazon UK and Pret-a-Manger.

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