- Frontier IP Group
- 24 May 2024 13:14:34
Source: Sharecast
The AIM-traded firm said the new range, dubbed ‘Mas’, is made from 95% to 98.5% recycled content, varying by colour, with one of the lowest carbon footprints in the market.
That was aligned with the construction industry's increasing focus on sustainability amid carbon taxes and stricter environmental regulations.
Topps Tiles reportedly planned to introduce the Mas range to retail customers later in the year.
Floor tiles constitute about 60% of the total tile market.
Frontier IP said the Mas tiles, which had been extensively tested, were durable with porcelain-grade breaking strength.
They are produced using industry-standard equipment and mass-manufactured through subcontracting.
In addition to the Mas range, Alusid's Principle range, launched in the Topps retail chain last year, was recently named Wall Tile of The Year by the Tile Association.
Alusid secured £1.13m from new and existing investors in January, including a £0.5m investment from Octopus Investments.
The company was also planning an initial public offering later this year.
Other notable Alusid clients included Starbucks EMEA, H&M, Pret a Manger and the BBC.
The company was currently in discussions with potential distributors in Northern Europe to expand its market reach.
“We are delighted that Alusid has successfully developed and launched its first range of floor tiles, which form a major part of the overall tile market,” said Frontier IP chief executive officer Neil Crabb.
“This is a big step forward for the company and is sure to strengthen its appeal to investors as it explores an initial public offering.”
At 1208 BST, shares in Frontier IP Group were down 2.05% at 40.65p.
Reporting by Josh White for Sharecast.com.