02/06/2009

£1million co-investment secures development of green communication technology in Wales

A Cardiff-based early stage company developing a revolutionary approach to helping the mobile communications industry design highly efficient communications systems has successfully raised £1million through its first equity funding round.


Mesuro Ltd, a spin-out from Cardiff University, has received co-investment from Finance Wales plc, Fusion IP and the ERA Foundation to commercialise technology that enables the energy efficient operation of base stations in mobile communication networks and mobile phones by using less power, so reducing CO2 emissions.

Mesuro’s technology ensures the efficient design and operation of power amplifiers, a key component within mobile phone networks. Its product could lead to massive economic and environmental benefits for the communications industry globally.

Richard Emsley of Mesuro Ltd, explained why their product development was unique. “Modern mobile phones contain a number of wireless applications such as, Bluetooth, WiFi and the phone itself. All these technologies rely on power amplifiers to broadcast the signal and are notoriously power hungry components. Mesuro’s technology allows the mobile phone manufacturer to make their power amplifiers operate closer to theoretical efficiency, something which has not previously been possible. For the mobile phone user this means increased battery life and no more hot ears after long phone calls (hot phones are a sign that the power amplifier is not working efficiently, as it is creating heat not signal). For the mobile phone companies it means reduced power consumption and lower electricity bills, and for the planet it means lower CO2 emissions.”

Finance Wales plc and university investment group, Fusion IP plc, are each investing £375,000 in equity alongside £250,000 from the ERA Foundation.

Advisors on the deal were Hugh James (legals), Sagentia (commercial due diligence) and IP Pragmatics (IP review).

Mesuro Ltd is one of Fusion IP’s first spin out companies from Cardiff University. Fusion IP owns the rights to 100 per cent of the university-owned research generated at Sheffield University and Cardiff University.

Steve Smith, Director of Early Stage Investments at Finance Wales plc, said “Our backing of Mesuro Ltd reflects Finance Wales’s commitment to invest in early stage businesses that have novel technologies, robust intellectual property (IP) and the capacity to break into global markets Through our partnership with Fusion IP, we quickly identified that Mesuro had developed pioneering technology for the rapid design and development of test and measurement systems for users of high frequency power amplifiers. Working in partnership with the company and our co-investment partners we were able to structure an investment package that affords Mesuro the opportunity to complete its product development and achieve its all important first sales.”

Another co-investor is the ERA Foundation which specialises in providing finance for early-stage technology companies through its co-investment venture capital fund.

Commenting on its investment in Mesuro Ltd, Sir Alan Rudge, Chairman of the ERA Foundation, said: “We are very pleased to be making this investment in a spin-out from Cardiff University. There is an urgent need for the nation to return to a balanced economy with industry playing a more important role. The ERA Foundation is committed to providing what support we can to the electro-technology sector of industry – and we are excited by the technology Mesuro has produced.”