Press Release

Warwick Audio Technologies Receives Funding into Innovative Loudspeaker TechnologySynergis Logo

 

 

19th July 2007

Synergis Technologies Ltd. and the Mercia Technology Seed Fund (MTSF) have committed to an investment of £500,000 into Warwick Audio Technologies Limited (WAT), a spin out company from the University of Warwick. The company has developed an innovative mid-range loudspeaker that is ultra-thin, lightweight, flexible, and inexpensive to manufacture.

At less than 0.5 mm in depth it is thinner than any other flat panel loudspeaker currently available, and can be made in any shape or size, from a few millimeters to several meters. The loudspeaker works on electrostatic principles, and unlike the ‘flat panel’ loudspeakers currently available, it operates without the need for external excitation devices (such as a conventional moving coil device or piezoelectric element).

This technology demonstrates several key and unique advantages for the future design of sound systems. The actual speakers are so thin and lightweight that the physical space needed is minimal, ideal for applications where space is at a premium. The speakers are also extremely flexible, meaning they can be easily contoured to fit complex shapes. The company is also able to make large multi-element speakers that allow sound to be directed where required.

The potential applications for this technology are numerous. Not only could the speakers replace existing conventional applications, but new uses have been identified, such as using the speakers as wallpaper and as part of in-car entertainment systems. In both cases, the speakers can be incorporated into materials during the manufacturing process. The technology can also be used as a potential advertising tool. Posters could incorporate the speakers, bringing them ‘to life’.

Some three billion loudspeakers are sold every year. In nearly all these applications, the Warwick Audio Technologies' flat and flexible technology could easily be used, but this current volume takes no account of the additional sales and price premiums to be generated by innovative applications previously restricted by old technology. Fashion and practical apparel, advertising, concerts, PA systems, security, defence, home and in car entertainment are all markets where new and exciting applications with real end user benefits can be realised.

Terry Swainbank, Investment Director, Synergis Technologies stated: “This is an exciting investment and we look forward to being a part of the continued development of this next generation technology. With such a large potential market to tap into, the commerical viability for this technology is enormous and has the ability to change the face of loudspeaker systems as we know it.”

Duncan Billson, Chairman of WAT Limited said: “This investment will allow WAT to take the technology to market, opening up a wide range of opportunities for radically new products. We are particularly pleased with the investment from both Synergis and Mercia as they bring extra value to the company at board level in terms of their management expertise.” 

Tim Hazell, Senior Investment Manager at the MTSF commented: “This investment illustrates the funding available in the region for those early stage companies which have exciting new technologies with the potential to make  significant market impact.”

David Calvert, University of Warwick Business Development Manager for this project, added: “This investment in WAT is great news, and enables another of the many novel ideas coming from the University to be developed and commercialised.

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For further information on Synergis Technologies Ltd. and all other media enquiries, please contact:
Shimi Shah, Interim CEO or Elizabeth Martens, PR Manager
Tel: +44 (0) 207 932 0727
Email: pr@synergistechnologies.com
www.synergistechnologies.com

For further information on Warwick Audio Technologies Ltd. please contact:
Dr Duncan Billson, Chairman 
Tel: + 44 (0) 2476 528026
Email: info@warwickaudiotech.com
www.warwickaudiotech.com

For further information on MTSF please contact:
The investment team (Dr Mark Payton, Dr Mark Bowman or Tim Hazell)
Tel: + 44 (0) 121 236 8855.  
Email: mail@merciafund.co.uk 
www.merciafund.co.uk

For further information on the University of Warwick and Warwick Ventures contact:
David Calvert
Tel: + 44 (0) 24 7657 5481
Email: d.j.calvert@warwick.ac.uk
www.ventures.warwick.ac.uk

NOTES TO EDITORS
Synergis Technologies Ltd. is as an investment vehicle providing seed and early stage funds to help turn innovative research from universities and leading Public Sector Research Establishments (PSRE's) into significant commercial value. Many aspects of the commercialisation process are difficult and new, from setting strategy to obtaining secure funding. Synergis provides funds to bridge this gap, and through proactive portfolio management helps build strategic value in the businesses it invests in. In addition Synergis is almost unique in its ability to provide access to follow on funding through its parent company, Porton Capital. The financing capability of Synergis and Porton Capital means that the companies in which they invest can grow without funding constraints.

With its head offices in London, Synergis offers early stage and follow on funding for start-ups. With a dedicated team made up of former scientists, investment professionals, commercialisation directors and entrepreneurs, Synergis understands the challenges faced by start-ups.

Mercia Technology Seed Fund is a £12.8million fund which looks to invest in opportunities that are post proof of concept, often pre-revenue, but with demonstrable commercial interest in the technology under development. The fund invests in companies who are, or will be, based in the West Midlands region and typically invests between £50k and £250k (with the potential to invest up to £750k). The fund, although not exclusively, is looking to invest in businesses in the following sectors in particular:

The Mercia Technology Seed Fund is managed by experienced fund manager, WM Enterprise.

The University of Warwick is internationally recognised as an innovative and entrepreneurial centre of knowledge and technology transfer to business and the public sector.

Warwick Ventures was created in 2000 to build on the research successes of the University of Warwick.It ensures the intellectual property resulting from the University's research spend is properly protected and commercialised for the benefit of the researchers, the University, the region and the nation.

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