Amantys Limited, a University of Cambridge cleantech spin-out, has completed a funding round of undisclosed amount.
The round was led by IP Group plc (LSE: ipo), a UK developer of intellectual property based businesses.
Amantys develops power electronics products that are suitable for numerous clean technology markets. Its first product will be focused on increasing reliability and reducing cost in wind turbine converters. The technology is based on research and development work carried out by Dr Patrick Palmer at the University of Cambridge’s Department of Engineering.
The company is chaired by Pete Magowan, who was a main board director of ARM Holdings plc. The two other directors, Bryn Parry, Managing Director, and Mark Snook, Technical Director, also held senior management roles within ARM.