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Imperial Innovations Spinout wins MacRobert Award


6 June 2007 -- Further to the release of 5 June 2007, Imperial Innovations Group plc (AIM: IVO), the technology commercialisation and investment company, announces that an Imperial Innovations spin-out company, Process Systems Enterprise (PSE), was last night revealed as the winner of the Royal Academy of Engineering's MacRobert Award, as announced at a dinner in London attended by HRH Prince Philip and addressed by Lord Browne of Madingley.

The award, the UK's most prestigious for engineering, recognises the successful development of innovative ideas in engineering by awarding a gold medal and a prize of £50,000 to the winning team members. In winning this award, PSE joins an impressive roster of previous winners, including IBM, Rolls Royce and BP International.

Process Systems Enterprise was selected for its innovative gPROMS® advanced process modelling software. gPROMS helps process industry companies to maximise product quality, minimise production cost and control environmental impact through the use of high-accuracy predictive mathematical models of their processes. It also enables them to innovate much faster, design more efficient processes, manage risk closely and integrate R&D and engineering disciplines.

gPROMS has successfully entered the worldwide market, with 75% of PSE's revenues coming from exports. The company's client base includes more than 60 of the world's leading process industry companies, about 75% of which are Fortune 500 organisations. gPROMS is also being used for teaching and research by more than 200 universities worldwide.

The company was formed in 1997 and is based on technology arising from the research of Professor Costas Pantelides and colleagues from the Centre for Process Systems Engineering at Imperial College London. It is now part of the portfolio of Imperial Innovations.

Prof. Costas Pantelides, MD of PSE, said, 'We are delighted and honoured to have won the MacRobert Award. As a company that not only innovates but also helps others to innovate, we value this recognition highly.'

Susan Searle, CEO of Imperial Innovations, said, 'We are very pleased that PSE has won the MacRobert award. This is validation of the significance of the company and its innovative technology'.

-Ends-

For more information contact:

Imperial Innovations
Susan Searle, Chief Executive Officer; +44 (0)20 7594 6591
Lucy Ahfong, Marketing Communications Executive; +44 (0)20 7594 6644

M:Communications; Eleanor Williamson; +44 (0)20 7153 1539
JP Morgan Cazenove; Steve Baldwin; +44 (0)20 7588 2828


About Imperial Innovations
Imperial Innovations is one of the UK's leading technology transfer and commercialisation companies. The company was founded in 1986 and its ordinary shares admitted to trading on the AIM Market of London Stock Exchange plc in July 2006, raising £26 million. The company's integrated approach encompasses the identification of ideas, protection of intellectual property, development and licensing of technology and formation, incubation and investment in technology businesses. A wide range of technologies are commercialised within the areas of healthcare, energy, environment and emerging technology trends.

Based at Imperial College London, the company has established equity holdings in 70 technology businesses and has completed 116 commercial agreements. Imperial Innovations also commercialises technologies originating from outside Imperial College through incubation contracts with the Carbon Trust and WRAP and has relationships with a number of multinational corporations including BAE Systems.

Imperial Innovations has invested in a range of spin-out companies, including The Acrobot Company Limited, BioCeramic Therapeutics Limited, Cardiak Limited, Circassia Holdings Limited, deltaDOT Limited, Equinox Pharma Limited, Future Waves PTE Limited, HeliSwirl Technologies Limited, InforSense Limited, IXICO Limited, Lontra Limited, Midaz Lasers Limited, N


Publisher Contact Information:

Imperial College Innovations Limited
+44 (0)20 7594 6644
-

Company profile of Touchstone Innovations (formerly Imperial Innovations)
Past press releases of Touchstone Innovations (formerly Imperial Innovations).

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