- Intellectual property commercialisation company Powerhouse Ventures (PVL) is investing in CourseLoop and Firmus Grid
- CourseLoop is a provider of course management software (CMS) platform to universities which allows them to manage courses thoroughly
- Firmus is an emerging ultra-efficient, low power-usage-effectiveness data centre developer and operator that uses intellectual property relating to immersion cooling
- The investments consisted of $435,000 for a 1.4 per cent ownership stake in CourseLoop and $250,000 in convertible notes and warrants in Firmus
- Powerhouse ended Wednesday 1.01 per cent in the red at 9.8 cents
Intellectual property commercialisation company Powerhouse Ventures (PVL) has invested in two companies, CourseLoop and Firmus Grid.
These investments provide Powerhouse exposure to the new Web 3.0 marketplace for data.
CourseLoop
CourseLoop is a provider of course management software (CMS) platform to universities across Australia, the United States and the United Kingdom.
Its software allows universities to manage their courses thoroughly from content management through to accreditation auditing.
This platform typically replaces in-house systems or word and excel documents.
For a consideration of $435,000, Powerhouse will soon hold a 1.4 per cent stake in CourseLoop.
Firmus
Firmus is an emerging ultra-efficient, low power-usage-effectiveness (PUE) data centre developer and operator that uses intellectual property (IP) relating to immersion cooling.
Its data centres are 100 per cent compatible with industry standards for air-cooled servers and can host the most demanding lodes for artificial intelligence and machine learning workloads.
Firmus has an existing 20-megawatt data hall in Tasmania and will double its footprint to 40 megawatts with a second 20-megawatt data hall planned for completion in mid-2022.
Powerhouse’s investment in Firmus consisted of $250,000 in convertible notes and warrants.
Non-Executive Director Joshua Baker said both investments were incredibly worthwhile.
“PVL views the investments into CourseLoop and Firmus as compelling from both a financial and strategic perspective, bolstering PVL’s network amongst the university community and our technical know-how in the commercialisation of distributed energy resources respectively,” Mr Baker said.
“Further, by being later-stage investments with nearer-term potential liquidity events, we are seeking to broaden the maturity profile of the PVL investment portfolio with the aim of delivering a more consistent and predictable value set for our shareholders.”
Powerhouse has ended Wednesday 1.01 per cent in the red with shares trading at 9.8 cents in a $9.28 million market cap.