Fusion IP invests in university spin-out

The Sheffield company said along with Finance Wales and the ERA foundation, it has invested 350,000 into Mesuro, which sells advanced radio frequency testing and measurement systems to the communications industry.

It means Fusion now owns 45 per cent of Mesuro, which was spun out of Cardiff University.

David Baynes, chief executive of Fusion said: "There is considerable global interest in Mesuro's technology as it enables the energy efficient operation of base stations in mobile communication networks and mobile phones and by using less power, it reduces CO2 emissions.

"Mesuro's product could lead to massive economic and environmental benefits for the communications industry globally. This funding will help the company move towards breakeven, with the first US sales expected before the end of the year."