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MarketScreener Homepage  >  Equities  >  Xetra  >  Williams Grand Prix Holdings PLC    WGF1   DE000A1H6VM4

WILLIAMS GRAND PRIX HOLDINGS PLC (WGF1)
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Williams Grand Prix : Foresight Williams Technology EIS Fund makes £2.1m investment into Oxford Space Systems Limited

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06/14/2018 | 12:33pm CEST

• Oxford Space Systems is a space technology business developing a new generation of light-weight unfurlable boom arms and foldable antennae
• Synergies with Williams Advanced Engineering's light-weight materials and structures expertise
• The Fund supports the commercialisation of disruptive technologies with high-performance engineering capability and proven investment management

Foresight Group ('Foresight',) announces the investment of £2.1 million into Oxford Space Systems Limited ('OSS' or the 'Company') from the Foresight Williams Technology EIS Fund ('the Fund').

OSS is an award-winning space technology business that is pioneering the development of a new generation of deployable antennae and boom arms for nanosatellites that are lighter, less complex and lower cost than existing solutions. Designed to address the technical challenges of delivering high and consistent performance, these new systems also meet the needs of packaging, weight, durability, time to market and cost in the extreme operating conditions of space.

OSS technology is highly compatible with Williams Advanced Engineering's capabilities in advanced light-weight materials and structures. Potential areas of support include design, analysis and prototype manufacture of specialist composite components as well as access to lightweight structures specialists.

John Holden, Principal, Foresight Group said: 'Oxford Space Systems is a highly innovative and market-leading business with a unique, differentiated product offering. We are delighted to be entering this partnership with OSS and to have the opportunity to be involved in their growth and development over the upcoming years.' Foresight's investment will support the development and commercialisation of OSS's products, alongside the expertise of Foresight's experienced investment management team.

Matthew Burke, Head of Technology Ventures, Williams Advanced Engineering said: 'We are delighted that the Fund has invested in Oxford Space Systems and we look forward to supporting the growth of the company. There is a good fit between OSS technologies and Williams Advanced Engineering's expertise and it is great to be able to explore additional ways in which we can work together on new discoveries and applications alongside the investment.'

This is the Fund's sixth investment, following investments into Southampton-based Utonomy, a ground-breaking intelligent gas grid solutions provider; Codeplay, an Edinburgh-based software developer focused on autonomous vehicles; The Salford Valve Company ('Salvalco'), a manufacturer of ecologically sustainable aerosol valves; Geospatial Insight, a Midlands based leading provider of satellite imagery analysis for the insurance, investment and corporate sectors; and Mirico, a Harwell-based manufacturer of a novel Laser Dispersion Spectroscopy based gas analyser.

Disclaimer

Williams Grand Prix Holdings plc published this content on 14 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 June 2018 10:32:03 UTC

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