IP Group leads Amantys funding round

Intellectual property commercialisation outfit the IP Group has led a funding round in Cambridge University spin-out Amantys, a company developing power electronics products that are suitable for numerous clean technology markets.

Amantys was established this year to bring power electronics technology developed by Dr Patrick Palmer at Cambridge University’s Department of Engineering to market.

The company is developing power electronics products that have a high level of programmability, closely controlling the switching of power transistors leading to higher reliability and more efficient converters.

Its patented technology allows the power transistors to be constructed in a series topology, which makes it easier to construct systems to switch medium and high voltages. Its first product will be focused on increasing reliability and reducing cost in wind turbine power converters.

Amantys is chaired by Pete Magowan, who was a main board director of ARM Holdings, while its managing director Bryn Parry and technical director Mark Snook also held senior management roles within ARM.

Founded in 2001, IP Group listed on AIM in October 2003 and has made two acquisitions to date – Techtran, a company set up to commercialise university intellectual property under a long-term contract with Leeds University in 2005, and Top Technology Ventures, an investment adviser to early stage technology venture capital funds in 2004.