TIDMNSCI
NetScientific PLC
29 November 2022
Reach: 07.00, 29 November 2022
NetScientific plc
("NetScientific" or the "Company")
EMV Capital leads GBP4.2m investment round in Scottish 5G and
SATCOM leader
Sofant Technologies also announces contract with Fortune Global
500 defence company
London, UK - 29 November 2022: NetScientific plc (AIM: NSCI),
the active international holding company which invests in,
develops, and commercialises life sciences/healthcare,
sustainability, and technology companies, announces that it has
joined an investment round led by its subsidiary EMV Capital Ltd
("EMVC"), together with Scottish Enterprise, Kelvin Capital
Limited, and The Future Fund, in Edinburgh based Sofant
Technologies Ltd ("Sofant"). The final close took the total joint
investment round to GBP4.2m. This utilises the Company's capital
light investment model, including c. GBP0.3m of investment from
NetScientific through convertible loans converting at a discount
into this round, and GBP1.6m of investment from investors
introduced by EMVC, including both direct equity and convertible
loans.
Sofant has also announced a contract with a Fortune Global 500
defence company to support the development of a next-generation
tactical communication system.
Sofant will use the proceeds from this investment round to build
a satellite communications terminal which targets mobile
applications during the first half of 2023, and with commercial
sales expected to begin later in the year. During the past year,
Sofant has doubled the size of its team and achieved several
significant technical and commercial milestones which have cleared
the pathway to market.
Sofant is building a proprietary, highly efficient radio
platform that directly addresses the most difficult challenges
facing future wireless communication systems. While Sofant is
targeting satellite communications and terrestrial fifth-generation
(5G) telecommunications where power consumption is reduced by more
than 70%, it has now also demonstrated the relevance of its
technology to national security applications.
Dr Ilian Iliev, CEO of NetScientific and Sofant Board member,
said that:
"We are delighted with Sofant's tremendous progress in their
development roadmap. They continue to make a key contribution to
the UK's space tech and telecoms sectors by developing a key
component for increased resilience and energy efficiency in SatComs
and other telecommunications systems.
"We also congratulate Sofant on their first commercial agreement
with a leading defence contractor, as global awareness of the
critical importance of communications to national security
increases. We expect Sofant to play a significant role in future
communication systems and are very pleased that its value is
already recognised by industry leaders."
David Wither, CEO of Sofant, added:
"We are very pleased to have investors who understand the
disruptive nature of Sofant's technology. When Sofant closed the
previous funding round we told our investors we would demonstrate
our core technology, which occurred in June of 2022. Sofant will
use the proceeds from this investment round to build a satellite
communications terminal which targets mobile applications, with
commercial sales expected to begin later in the year."
This investment will result in the direct equity holding in
Sofant by NetScientific of 1.8% at an aggregate value of GBP0.4m
based on this funding round, in addition to EMVC's Capital Under
Advisory representing 27.2%.
-Ends-
For more information, please contact:
NetScientific
Ilian Iliev, CEO Via Belvedere Communications
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel / Enzo Aliaj +44 (0)20 7220
1666
Belvedere Communications
John West / Llew Angus +44 (0) 203 008 6864
Email: langus@belvederepr.com
About NetScientific
NetScientific Plc ("NSCI") is an active holding Company that
proactively invests in a global portfolio of companies across the
healthcare, life science, ESG, and deep technology sectors.
NetScientific delivers shareholder returns through a proactive and
hands-on management approach to its portfolio companies;
identifying, investing in, and helping to build game-changing
companies. The Group targets value inflection points and the
release of value through partial or full exits from trade sales,
public listings, or equity sales. The Company has a strong
Trans-Atlantic and growing international presence, providing
attractive expansion prospects.
The Company differentiates itself by employing a capital-light
investment approach, making use of its wholly owned subsidiary, EMV
Capital's network of private, corporate, and institutional
investors. By syndicating investment and making minimal use of its
balance sheet, the Company is able to secure direct stakes, as well
as carried interest stakes, in its portfolio. This ultimately
creates a structure that can support a large portfolio with a
limited balance sheet.
NetScientific is headquartered in London, United Kingdom, and
was admitted to trading on AIM, a market operated by the London
Stock Exchange, in 2013.
www.netscientific.net
About Sofant Technologies
Sofant Technologies is a leading-edge radio technology company
based in Edinburgh, Scotland. The company is applying its
proprietary RF MEMS technology to develop an extremely low power,
low-cost platform which solves power consumption and heat problems
in satellite communications and 5G antenna systems. Sofant employs
a fabless semiconductor business model which enables it to leverage
long established high-volume, low-cost production methods. This
positions Sofant to offer its customers game-changing performance
at a highly competitive price and guaranteed scalability.
www.sofant.com
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