Innovative Audio ultra thin loudspeaker tech
Market Sector | Consumer Electronics
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Product | Innovative Audio ultra thin loudspeaker Technology | |||
Business Stage | Pre-Revenue - anticipates commercialisation final qtr 2009 - sales pipeline evidenced | |||
Patents | 2 patents Filed on the core technology | |||
Investment | £200k of £800k call | |||
EIS Tax Relief | Yes | Valuation | Post money £1.8m |
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Location | Coventry | |||
Introduction
The company a spin out company from the University of Warwick has developed an innovative and revolutionary loudspeaker technology, which is ultra-thin, <0.25mm, flexible, lightweight, has exceptional directionality and is inexpensive to manufacture.
Thin film sound panels have multiple potential applications replacing conventional speakers and be designed into areas previously un-associated with audio reproduction thereby redefining how sound is used.
They have completed the main thrust of its research and development work and are now ready to take the product to market via initial specific identified applications and are at advanced discussions are underway with some of the key players in the sector.
Two patents are filed on the FFL technology and an extensive patent clearance/infringement search has been successfully conducted in respect of the Company's intellectual property in Europe and the USA.
Market Position
The world market for loudspeakers is projected to reach US$ 4.2 billion by the year 2010 partly driven by the need to keep pace with other technology developments in entertainment & lifestyle dominated by digital advancement and products like the I-POD, PC Multimedia, Wii's etc. The look and sound of speakers are integral to this move in technology.
Product
Their technology is thinner than any other flat panel speaker currently being marketed, and can be made in, virtually, any shape and size up to several square metres in area. It is highly flexible, lightweight, and easy to conceal or may be printed upon and finished in decorative coverings. Consuming low power the speaker produces planar sound waves that give evenly distributed sound levels that do not fall away rapidly as you stand further from the speaker.
The speakers are ideal for use in public spaces as PA speakers for flat and column-wrap applications; in board rooms and auditoriums as free hanging picture sound panels; in digital signage and point of sale displays, exhibits, notice boards and advertising posters to provide smart audio messages; in automotive headlining applications where low weight apart from size is an attractive feature.
Opportunity
They have been featured on a number of technology programmes and recently on a BBC Radio show. They have an extensive blue chip enquiry pipeline and are currently building prototype speaker systems to specific requirements with licensing a clear option to market.
Financials:
Existing Investors and a new fund have made an offer covering £600k of the current £800k call that the board are now considering the company looking for the balance of £200k from Angel investment.
Financial Forecast
| FY 09/10 | FY 10/11 | FY 11/12 | FY 12/13 | FY 13/14 |
Sales ‘000s | 977 | 3794 | 8838 | 15066 | 30720 |
Profit & Loss |
(210) |
(601) |
2253 |
4967 |
11974 |
Cash flow | (406) | (680) | (249) | 1496 | 5294 |