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Seed Capital Solutions #SCSP – Annual Financial Report for financial year ended 30 June 2024

Seed Capital Solutions plc (LON: SCSP), a Company formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, is pleased to announce its audited annual financial results for the financial year ended 30 June 2024.

The Company was incorporated on 18 December 2017. At the date of preparation of these accounts, the Company does not have any current operations / principal activities, no products are sold or services performed by the Company, the Company does not operate or compete in any specific market, and the Company has no subsidiaries. The Company has been formed for the purpose of acquiring a business or businesses operating in market sectors that display strong environmental, social and governance (“ESG”) credentials, thereby benefitting from the current trend of superior performance aligned with increased investor appetite. The Company is not geographically focused on any one or specific country or region, but rather opportunity focused hence any potential acquisition opportunities will not be limited by jurisdiction or geography.

The Company has yet to commence any commercial activities, so as a result its key performance indicators are limited to cash balances and expenses incurred, measured as loss before taxation as follows in £ (GBP):

                                                                                       30 June 2024                       30 June 2023

Cash Balances                                                             518,144                                  517,279

Loss Before Taxation                                                 (262,412)                                (174,781)

The Board continued to review a number of potential acquisition opportunities across the sector but none of which met the necessary criteria for selection as at the end of the year.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Seed Capital Solutions plc
Chairman Damion Greef

Website: https://seedcapitalsolutionsplc.com/

 

Brand Communications

Tel: +44 (0)1535 647 479

 

 

Public & Investor Relations Tel: +44 (0) 7976 431608
Alan Green

 

ABOUT SEED CAPITAL SOLUTIONS PLC

Seed Capital Solutions Plc (LON: SCSP) has been formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, thereby benefitting from the current trend of superior performance and increased investor appetite.

Link here to view the full report and financial statements.

Seed Capital Solutions Plc #SCSP – Board Changes

Seed Capital Solutions plc (LON: SCSP), a Company formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, is pleased to announce the appointment of Avi Robinson (“Avi”) as Non-Executive Director.

Avi, aged 43 is an experienced corporate and commercial director. He qualified as a chartered accountant with RSM in 2007, gaining significant transaction services experience before moving into corporate finance advisory at Dowgate Capital. He was a Partner and AIM qualified executive at Cairn Financial Advisers between 2010 and 2016, where he managed a portfolio of AIM listed companies and led several capital markets transactions across multiple sectors. In 2016, he co-founded a technology start-up in travel retail before joining Servy, an enterprise self-service platform for travel and hospitality, as Regional Managing Director overseeing operations and leading business development across EMEA and APAC. He currently operates as a Consultant to Servy and as a Non-Executive Director of URU Metals Limited. Avi has taken up his position following today’s AGM.

Following today’s AGM announcement, the Company also announces that Non-Executive Director Mike Hirschfield will be retiring. The Board would like to thank Mike for his work and contribution in bringing Seed Capital Solutions to the London market, and we wish him well for the future.

Chairman Damion Greef commented: “I am pleased to welcome Avi to the Seed Capital Solutions Board. Avi has considerable experience working in financial markets and this, coupled with his entrepreneurial successes will be invaluable to our team. We look forward to bringing this experience to bear as we assess acquisition targets. I would also personally like to thank Mike Hirschfield for his work and contribution to the Company and wish him all the best for the future.” 

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Seed Capital Solutions plc Tel: +44 (0)1535 647 479
Chairman Damion Greef

 

Brand Communications

 

 

Tel: +44 (0) 7976 431608

Public & Investor Relations
Alan Green

 

ABOUT SEED CAPITAL SOLUTIONS PLC

Seed Capital Solutions Plc (LON: SCSP) has been formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, thereby benefitting from the current trend of superior performance and increased investor appetite.

Seed Capital Solutions #SCSP – Unaudited Half Year Report for Six Months Ending Dec 31 2023

Seed Capital Solutions plc, formed in December 2017, which operates as a special purpose acquisitions company (SPAC) to undertake one or more acquisitions of target companies or businesses, announces its unaudited half year report for the six months ended 31 December 2023.

Chairman’s Statement

I have pleasure in presenting the interim results of Seed Capital Solutions Plc for the six months ended 31 December 2023.

During the financial period under review, the Company reported a net loss of £117,600 (December 2022: £25,800, year to 30 June 2023: £174,800), being the administrative expenses incurred. As at 31 December 2023 the Company had a cash in bank balance of £550,500 (December 2022: £2,400, 30 June 2023: £517,300).

There have been no transactions or events post the balance sheet date that require disclosure.

On 31 March 2023 the Company applied for Admission to Standard Listing on the London Stock Exchange with effect from 11 April 2023 and raised £970,000 through a subscription for 185,406,000 new Ordinary shares at £0.0075 each. The Directors have commenced a review for potential acquisition opportunities. A further announcement will be made at such time as the Company is able to provide further details on any proposed transaction.

Damion Greef, Chairman

Interim Management Report

Company Objective

The Company has been formed for the purpose of acquiring a business or businesses operating in market sectors that display strong environmental, social and governance (“ESG”) credentials, thereby benefitting from the current trend of superior performance aligned with increased investor appetite. The Company is not geographically focused on any one or specific country or region, but rather opportunity focused hence any potential acquisition opportunities will not be limited by jurisdiction or geographic region.

The Company was Admitted to the Standard Listing of the London Stock Exchange on 11 April 2023. Since listing, the Directors are targeting socially conscious technology based organisations which are capable of generating sustainable long term growth for investors. The Company’s initial focus is to identify opportunities to acquire companies with undervalued or pre-commercialisation technologies, or current commercialisation technologies which, when applied, produce cost savings or revenue enhancement for customers. These commercial advantages could offer market and sector beating performance potential whilst fulfilling the Company’s ESG assessment criteria.

Principal Risks and Uncertainties

The Company’s primary risk is that it may not be able to identify suitable investment opportunities or there is no guarantee that the Company will be able to secure an acquisition on commercially acceptable terms, and the Company may incur costs in conducting due diligence into potential investment opportunities that may not result in an investment being made. The directors believe that their broad collective experience, together with their extensive network of contacts will assist them in identifying, evaluating, and funding suitable acquisition opportunities.

It may be necessary to raise additional funds in the future by a further issue of new Ordinary Shares or by other means. However, the ability to fund future investments and overheads as well as the ability of any acquisition to return suitable profit cannot be guaranteed.

Related Parties Transactions

Details of related party transactions are set out in note 5 to these accounts.

Responsibility Statement

The Directors are responsible for preparing the Interim Report in accordance with the Disclosure and Transparency Rules of the United Kingdom’s Financial Conduct Authority (‘DTR’) and with International Accounting Standard 34 on Interim Financial Reporting (IAS 34).

The Directors (all non-executive) being John Zorbas, Segar Karupiah, Damion Greef and Mike Hirschfield confirm that to the best of their knowledge:

the interim financial statements, prepared in accordance with the applicable set of accounting standards, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company; and
the interim financial statements have been prepared in accordance with IAS 34 and that as required by DTR 4.2.7 and DTR 4.2.8, the Interim Report gives a fair review of:
important events that have occurred during the first six months of the year;
the impact of those events on the financial statements;
a description of the principal risks and uncertainties for the remaining six months of the financial year;
details of any related party transactions that have materially affected the Company’s financial position or performance in the six months ended 31 December 2023; and
any changes in the related parties transactions described in the last annual report that could have a material effect on the financial position or performance of the enterprise in the first six months of the current financial year.

By order of the Board

Damion Greef

Chairman

29 January 2024

Seed Capital Solutions plc

Condensed Statement of Comprehensive Income (unaudited)

6 months 6 months 12 months
31

December

31

December

30 June
2023 2022 2023
Note Unaudited Unaudited Audited
£000 £000 £000
Revenue
Administrative expenses (117.6) (25.8) (152.3)
Share based payments charge (22.5)
Operating loss (117.6) (25.8) (174.8)
Loss on ordinary activities before taxation (117.6) (25.8) (174.8)
Income tax expense
Loss after taxation (117.6) (25.8) (174.8)
Other comprehensive income
Total comprehensive loss attributable to (117.6) (25.8) (174.8)
owners of the parent
Loss per share (EPS):
Basic and diluted(pence) 3 (0.06) (0.06) (0.23)

Seed Capital Solutions plc

Condensed Statement of Financial Position as at 31 December 2023 (unaudited)

6 months 6 months 12 months
31

December

31

December

30 June
2023 2022 2023
Note Unaudited Unaudited Audited
£000 £000 £000
Current assets
Trade and other receivables 82.3 305.6
Cash at bank and in hand 550.5 2.4 517.3
Total assets 632.8 2.4 822.9
Current liabilities
Trade and other payables (28.0) (27.3) (100.5)
Total current liabilities (28.0) (27.3) (100.5)
Total liabilities (28.0) (27.3) (100.5)
Net assets/(liabilities) 604.8 (24.9) 722.4
Equity
Share capital 4 463.5 110.0 463.5
Share premium 539.3 539.3
Share based payments reserve 22.5 22.5
Reserves (420.5) (134.9) (302.9)
Shareholders’ funds / (deficit) 604.8 (24.9) 722.4

Seed Capital Solutions plc

Condensed Statement of Changes in Equity

For the six-month period ended 31 December 2023 (unaudited)

Share Share Share

based

Retained Total
capital premium payment profits equity
£’000 £’000 £’000 £’000 £’000
Balance at 1 July 2022 110.0 (128.1) (18.1)
Loss for the period (6.8) (6.8)
Balance at 31 December 2022 110.0 (134.9) (24.9)
Issue of shares 353.5 647.0 1,000.5
Costs of share issue (107.7) (107.7)
Share based payments 22.5 22.5
Loss for the period (168.0) (168.0)
Balance at 30 June

2023

463.5 539.3 22.5 (302.9) 722.4
Loss for the period (117.6) (117.6)
Balance at 31 December 2023 463.5 539.3 22.5 (420.5) 604.8

Seed Capital Solutions plc

Condensed Statements of Cash Flows

For the six-month period ended 31 December 2023 (unaudited)

6 months 6 months 12 months
31 December 31 December 30 June
2023 2022 2023
Note Unaudited Unaudited Audited
£000 £000 £000
Cash flow from operating activities
Loss before taxation (117.6) (25.8) (174.8)
Share based payments charge 22.5
Change in prepayments 3.2 (10.5)
Change in accruals (42.9) 35.3
Operating cash flows before movements in working capital (157.3) (25.8) (127.5)
Decease/(increase) in trade and other

receivables

220.1 (295.1)
(Decrease)/increase in trade and other

payables

(29.6) (15.3) 3.6
Cash generated from operations 33.2 (41.1) (419.0)
Cash flows from operating activities 33.2 (41.1) (419.0)
Proceeds from share issue 1,000.5
Share issue costs (107.7)
Net cash generated from financing activities 892.8
Net Increase/(decrease) in cash & cash equivalents 33.2 (41.1) 473.8
Cash and equivalent at beginning of the period 517.3 43.5 43.5
Cash and equivalent at end of the period 550.5 2.4 517.3

Seed Capital Solutions plc

NOTES TO THE FINANCIAL INFORMATION

1. GENERAL INFORMATION AND PRINCIPAL ACTIVITIES

The Company is incorporated in England and Wales as a public limited company with company number 11115718. The registered office of the Company is 80 Cheapside, London EC2V 6EE.

This financial information is for the Company only as there are no subsidiary undertakings.

The principal place of business of the Company is in the United Kingdom.

The interim financial statements are presented in the nearest thousands of Pound Sterling (£’000), which is the presentation currency of the company.

2. BASIS OF PREPARATION

The interim financial statements for the six months ended 31 December 2023 have been prepared in accordance with IAS 34, Interim Financial Reporting.

The principal accounting policies used in preparing the interim results are the same as those applied in the Company’s Financial Statements as at and for the period ended 30 June 2023.

A copy of the audited financial statements for the period ended 30 June 2023, which was prepared under IFRS, is available on the Company’s website.

The interim report for the six months ended 31 December 2023 was approved by the Directors on 29 January 2024.

3. EARNINGS PER SHARE

The earnings per share information is as follows:

6 months 6 months 12 months
31

December

31

December

30 June
2023 2022 2023
Unaudited Unaudited Audited
(Loss) after taxation (Pound £) (117.6) (25.8) (174.8)
Weighted average number of ordinary shares 185,406,000 44,000,000 75,704,615
Basic earnings per share (pence) (0.06) (0.06) (0.23)

There are 8,313,532 warrants outstanding at 31 December 2023 and at 30 June 2023 (December 2022: nil). Their effect is anti-dilutive but is potentially dilutive against future profits.

4. SHARE CAPITAL
31 December 31 December 30 June
2023 2022 2023
Unaudited Unaudited Audited
£000 £000 £000
Ordinary shares allotted, called up and

issued of £0.0025 each

175,406,000 issued and fully paid 438,515 438,515
10,000,000 issued and not fully paid 25,000 25,000
44,000,000 issued and fully paid 110,000

On 18 December 2017, the Company was incorporated with 100 shares of £0.01 each.

On 26 January 2021, the 100 issued Ordinary shares of £0.01 each were sub-divided into 400 new Ordinary shares of £0.0025 each.

On 29 January 2021, new subscribers applied for 15,999,600 new Ordinary shares of £0.0025 each at par raising £39,999. On 10 March 2021, a further 24,000,000 new Ordinary shares of £0.0025 each were issued at par to raise a further £60,000. On 10 August 2021, 4,000,000 new Ordinary shares of £0.0025 each were issued at par to raise £10,000.

On 23 March 2023 12,000,000 new Ordinary Shares of £0.0025 each were issued at par to raise £30,000 and on Admission to trading on the London Stock Exchange on 11 April 2023 129,406,000 new Ordinary Shares of £0.0025 each were issued at £0.0075 per share to raise £970,545. The Company incurred broker commission and legal costs amounting to £107,704 regarding the issue of these shares and this amount has been charged against share premium during the year.

Included in the new ordinary shares issued upon admission are 10,000,000 shares of £0.0025 each issued at £0.0075 to AMI Assets SA for £75,000 and accounted for as receivables at the year end. The Directors are comfortable that the balance will be recoverable.

At 31 December 2023, the Company had the following warrants in issue:

31 December 2023 and 30 June

2023

31 December 2022
Weighted

Average

exercise price

(p)

Number Weighted

Average

exercise price

(p)

Number
Outstanding at the beginning of the

period

Granted during the period 0.0027 8,313,532
Exercised during the period
Outstanding at the end of the period 0.0027 8,313,532
Exercisable at the end of the period 0.0027 8,313,532

All of these warrants have an exercise price of 1.125 pence per share, vested immediately and have a five-year contractual life.

A share-based payments charge of £22,447 was calculated on the basis of a Black Scholes valuation of £0.0027 per share. In calculating this grant date 11 April 2023 fair value the parameters used were a stock asset price of £0.0075, an option strike price of £0.01125, a five year maturity period, a risk free interest rate of 3.79% (based on five year Gilt yields) and a volatility of 50% based on management assessment of the risk profile. No dividend payments were factored in the model. As the warrants all vested immediately, the full charge has been recognised in the year.

Nature and purpose of reserves

Share based payments

The share based payments reserve reflects the share based payments charge on warrants granted by the Company as described earlier in this note.

5. RELATED PARTY TRANSACTIONS

Kitwell Administration Limited (“Kitwell”), a company wholly owned by Mr Hirschfield, has provided Company Secretarial and accounting services to the Company since incorporation. Mr Hirschfield agreed that Kitwell would not make any charges for its services prior to listing. These accounts include an accrual of £500 for Company Secretarial services for December 2023 (30 June 2023: £2,500 plus VAT in respect of accountancy services and £1,500 plus VAT for Company Secretarial services for the year ended 30 June 2023).

Prior to being appointed a director on 5 June 2023, Segar Karupiah charged for his services via Danmar Management Limited, a wholly owned service company. These accounts include an accrual of £nil (30 June 2023: £2,000 plus VAT in respect of services provided in May and June 2023).

6. SEASONAL OR CYCLICAL FACTORS

There are no seasonal factors that materially affect the operations of the company.

7. EVENTS AFTER THE REPORTING DATE

There are no events since the reporting date which require reporting.

– ENDS –

This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) (“UK MAR”).

FOR FURTHER INFORMATION, PLEASE CONTACT:

Seed Capital Solutions plc Tel: +44 (0)1535 647 479
Chairman Damion Greef

 

Brand Communications

 

 

Tel: +44 (0) 7976 431608

Public & Investor Relations
Alan Green

 

ABOUT SEED CAPITAL SOLUTIONS PLC

Seed Capital Solutions Plc (LON: SCSP) has been formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, thereby benefitting from the current trend of superior performance and increased investor appetite

Seed Capital Solutions plc #SCSP – Board Changes

Seed Capital Solutions plc (LON: SCSP), a Company formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, is pleased to announce the appointment of John Zorbas (“John”) as Chief Executive Officer (“CEO”).

John Zorbas, aged 52 has over 15 years of experience in global equity markets in an executive role. He is CEO of AIM listed URU Metals Ltd (AIM: URU), a position he has held since 2014. Since 2021 John has been working in the ESG space as a Non-Executive Director at Zeb Nickel Corp and PowerTap Hydrogen Capital Corp. Mr Zorbas will take up his position as CEO of Seed Capital Solutions Plc with immediate effect.

Incoming CEO John Zorbas commented: “I am delighted to join the Seed Capital Solutions Board at the start of a game changing investment journey. More than ever the world needs sustainable solutions to societal problems, and this is a factor that investors have become increasingly aware of.”

“ESG solutions need support and investment more than ever before, and I look forward to seeking out innovative companies with the requisite credentials to accelerate our growth as a UK listed company.”

Chairman Damion Greef commented: “I am pleased and excited to have John Zorbas join us as CEO of Seed Capital Solutions Plc. John has a global mindset and longstanding experience of multiple financial markets and is also an experienced investor in ESG opportunities. We look forward to bringing this experience to bear as we assess acquisition targets.” 

The Company also announces that Non-Executive Director Derek Ward will be stepping down. The Board would like to thank Derek for his efforts in bringing Seed Capital Solutions to market and wish him well for the future.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Seed Capital Solutions plc Tel: +44 (0)1535 647 479
Chairman Damion Greef

 

Brand Communications

 

 

Tel: +44 (0) 7976 431608

Public & Investor Relations
Alan Green

 

ABOUT SEED CAPITAL SOLUTIONS PLC

Seed Capital Solutions Plc (LON: SCSP) has been formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, thereby benefitting from the current trend of superior performance and increased investor appetite.

Seed Capital Solutions Plc #SCSP – Admission of Shares to Standard List

Seed Capital Solutions plc (LON: SCSP), a Company formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, is pleased to announce that commencement of dealings in its Ordinary Shares is expected to take place today, 12 April 2023 (“Admission”).

The Admission Document was published on 3 April 2023 and is available on the Company’s website https://seedcapitalsolutionsplc.com/

Admission and Total Voting Rights

The Ordinary Shares are expected to be admitted to trading on the Main Market of the London Stock Exchange on 12 April 2023 under the ISIN of GB00BL6CFR81 with SEDOL number BL6CFR8 and in accordance with Chapter 14 of the Listing Rules.

On Admission, the Company will have a total of 185,406,000 shares of nominal value £0.0025 each with voting rights in issue. There are no Ordinary Shares held in treasury. The figure of 185,406,000 may be used by shareholders, following Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

Chairman Damion Greef commented: “As one of the last businesses to list on the standard market under the old LSE rules, our team are excited to finally bring Seed Capital to market to invest into businesses operating in market sectors that can display strong ESG credentials.” 

“The importance of sustainable ESG operating practices are now front and centre in the operating manuals for every business and industry sector. The market opportunities are huge; with a projected compound annual growth rate (CAGR) of 12.9%, ESG-focused institutional investment is expected to grow by 84% to US$33.9tn by 2026, making up 21.5% of all assets under management*.”

“Seed Capital fully intends to participate in this growth opportunity by investing into businesses operating in market sectors that can display strong ESG credentials. I look forward to reporting back to you as our investment programme develops.”

*Source: PWC ESG Market Report October 2022:

https://www.pwc.com/gx/en/news-room/press-releases/2022/awm-revolution-2022-report.html

FOR FURTHER INFORMATION, PLEASE CONTACT: 

Seed Capital Solutions plc Tel: +44 (0)1535 647 479
Chairman Damion Greef

 

Brand Communications

 

 

Tel: +44 (0) 7976 431608

Public & Investor Relations
Alan Green

 

 

ABOUT SEED CAPITAL SOLUTIONS PLC

Seed Capital Solutions Plc (LON: SCSP) has been formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, thereby benefitting from the current trend of superior performance aligned with increased investor appetite.

Fedr8 Green Rain now available to 260,000 global customers in the AWS Marketplace

Fedr8 is pleased to announce that after extensive testing, Green Rain has been accepted by AWS and is now available for subscription to 260,000 global customers on the AWS Marketplace.

Many organizations want to run Green Rain inside AWS accounts they control because:

  1. They want Green Rain to analyze their code without that code being transferred outside of their control.
  2. They want to deploy Green Rain their own accounts to meet compliance rules.
  3. They want to purchase Green Rain on a pay-as-you-go consumption model.

This is especially important for global systems integrators who have multiple complex enterprise customers and many AWS accounts. By using the AWS Marketplace, they can access their software subscriptions from anywhere in the world and deploy to any AWS accounts they manage for their clients.

How it works

To get Fedr8 Green Rain from the AWS Marketplace:

  1. You can purchase by the hour or with Bring Your Own Licence (BYOL) which means customers must have a licence agreement in place already with Fedr8 – get a licence here.
  2. Go to the Fedr8 page on AWS Marketplace and buy a subscription.
  3. Launch your own Green Rain instance in your AWS account.
  4. Customers only pay for the applications they analyze. They can have as many instances of the software as they need.
  5. Green Rain runs on an EC2 instance in your AWS accounts and you pay for the EC2 resources consumed. Usage and billing is all handled via the AWS Marketplace.

Damion Green, Fedr8 CEO, said: “We wanted to make Green Rain simple to use in customer cloud environments. All customers need to do is get a licence from Fedr8 then get the software from the AWS Marketplace. It means they can plug Green Rain into their workflow and get insights into code within an hour of subscribing. They control where their code lives, and how Green Rain integrates. And if they get stuck, the Fedr8 team are here for support, but mostly we’re hands-off.”

For more info on Fedr8, Green Rain and to go to AWS Marketplace, click here

Fedr8 and Rainmaker Solutions announce completion of first commercial project with Staffordshire County Council.

Fedr8, the application discovery company, and Rainmaker Solutions, the business transformation specialists, announce the completion of their first technical project together.

Staffordshire County Council asked Rainmaker to build a business case and roadmap for moving out of their on-premises data centre and into the cloud. This project didn’t just involve comparing cloud and on-premises running costs, but factoring in the time as well as effort needed to migrate to the cloud so a programme could be created to drive changes forward effectively with funding secured.

Rainmaker had 10 weeks to complete this work and wanted to deliver the kind of detail that would normally require months of comprehensive application discovery. Aware of the client’s needs and with Rainmaker always looking to leverage new and innovative technologies to support our clients, Rainmaker engaged Fedr8 to analyse Staffordshire’s applications on their Green Rain application analysis platform. This was completed in one morning, including the uploading of Staffordshire’s applications source code to the platform. The immediate output meant that this part of the project could be completed in a much more efficient manner and to a greater level of detail than what would normally be expected, significantly reducing the time spent investigating, testing and ultimately delivering.

Tom Gouldon, Engagement Lead, Rainmaker commented:

“Estimating the time and expense to migrate in-house apps to the cloud used to take weeks and months of work – in a matter of hours we found applications that can be quick wins for migrations and for the rest we can build business cases supported by quantitative analysis. This is a real game changer for us in assessing readiness for the cloud.”

Vic Falcus, Head of ICT, Staffordshire County Council said:

“I was impressed with the functionality of the Green Rain software; the council has a reliance on some applications that were developed in-house, where off the shelf functionality was unavailable or to enhance digital processes delivered through our website. Any Business Case investigation around the cloud migration of a complex ICT estate requires analysis of a raft of variables to avoid unforeseen costs or unpleasant surprises down the line. Fedr8’s software has quickly and efficiently given us robust data around this aspect of the potential change.”

Damion Greef, CEO of Fedr8 added:

“The Green Rain application analysis platform yet again proves that no application needs to remain as a “black box” that can’t be moved updated or upgraded. Working with Rainmaker and Staffordshire we exposed the DNA of 5 key applications in one day.”

 

Fedr8

Damion Greef, CEO

Tel. 07823328816

Email. info@fedr8.com

Email. sales@fedr8.com                                                                             Web. www.fedr8.com

Fedr8’s Green Rain software solves one of the major IT problems in the world today: How does a company move to the cloud and capitalize on the efficiencies and economies that the cloud brings? The shift to cloud technologies and the digital transformation projects undertaken by large enterprise organizations pose many challenges, there are the unknown figures relating to cost and time for migration or transformation. In addition, there are unknown risks relating to relocating or changing the applications that support their businesses. Fedr8 reduces the risk in legacy software applications, identifies the most appropriate cloud to move to, accelerating the application analysis by 90% whilst significantly reducing the costs by 50%.

Fedr8 solves this problem using it’s proprietary artificial intelligence engine which interrogates software at a code level allowing the code in that software to be changed to suit the major cloud companies’ cloud platforms.

Our mission is to support our customers in embracing the business benefits of the adoption of the Digital Economies through accelerated adoption of Cloud Environments.

 

Rainmaker Solutions

All media enquiries to:

Linn Karppinen

Tel. +44 (0)7388498292

Email. linn.karppinen@rainmaker.solutions

Rainmaker Solutions is an independent business transformation specialist, with offices in London, Johannesburg and San Francisco. Working collaboratively, at the heart of the most challenging projects, Rainmaker helps organisations transform for the digital age by using its world-leading methodology to plan, implement, and embed lasting change.

Founded in 2010, Rainmaker has delivered exceptional results for clients including Amazon, Cambridge University Hospitals, Credit Suisse, Croydon Council, Department for International Trade, Direct Line Group, EBRD, the Food Standards Agency, HS2, and Newham Council amongst others.

For more information, visit https://rainmaker.solutions

Fedr8 CEO Damion Greef and Alan Green discuss the Green Rain cloud app migration solution.

Fedr8 CEO Damion Greef and Alan Green discuss the challenges faced by companies and organisations in migrating IT infrastructure and legacy apps to the cloud. Damion explains how Fedr8’s Green Rain solution quickly resolve these issues, and provides a pathway to the cloud. Submit an app source code to Fedr8 at breakfast, and by supper Fedr8’s Green Rain will provide you with the answers for your app migration pathway.

Fedr8 Pathway signs partnership with Elevator/Fifty/One

Fedr8 Pathway signs partnership with Elevator/Fifty/One

Fedr8 Ltd the owner of the Green Rain machine learning software platform announces a collaboration with Elevator/Fifty/One, a US based professional services and migration specialist, to deliver both modern and legacy application migrations utilising the Green Rain software platform. Elevator/Fifty/One will deliver consulting, software re-development and migration – virtualization services to Fedr8 Pathway’s customers and partner ecosystem.

Elevator/Fifty/One will engage with Fedr8 Pathway to identify and deliver bespoke migration paths to current best of breed migration destinations. These services will include refactoring, containerising and managing application estates throughout Cloud migration projects.

By using Green Rain’s intelligent source code analytics, applications can be rapidly, cleanly, and efficiently optimised to make the most of cloud environments or infrastructure in terms of functionality, scalability and on-going costs. Providing superior ROI for clients compared to the “move to the Cloud at any cost” methodologies too often employed around the world.

Commenting on the tie up, Damion Greef, Fedr8 CEO said; “This collaboration with Elevator/Fifty /One, gives Fedr8 Pathway all the professional services required to deliver cloud migrations driven by Green Rain insights. The core mantra of the Fedr8 Pathway is to make informed insightful and rapid decisions to ensure optimisation of the target cloud environment. This approach avoids the risks involved of a generic “lift, shift and hope” approach, and delivers better cost control now and in the future.”

Leon Zackoski, CEO, Elevator/Fifty/One added; “Multiple Cloud Platforms coupled with a variance in containerization choice often creates risks, confusion and need for an appropriate “developmental direction”. The union between Fedr8 and EFO negates the risks or problems associated with ailing traditional rather “old-school” approaches to “moving to the cloud” Fedr8 provides the intellectual insight to achieve those foundational goals.”

Note to editors.

Green Rain circumvents the traditional limitations of a rule-based system to expose not only the genetic construct of an application, but the meaning and relationships embedded within the code visually.

Green Rain works by using “Molly” its proprietary artificial intelligence engine which interrogates software at a code level allowing the code in that software to be analysed producing actionable information at scale. Our mission is to support our customers in embracing the business benefits of the adoption of the Digital Economies through accelerated adoption of Cloud Environments.

About Elevator/Fifty/One

EFO is a US based company specializing in advanced software and hardware technologies. An extended emphasis on providing consulting, software development or -re-factoring coupled with data intelligence.

Contacts:

 

Damion Greef, CEO, Fedr8.                                                      Email.Damion.Greef@fedr8.com

Leon Zackoski, CEO, EFO                                          Email. l.zackoski@efiveone.com

 

END

Fedr8 CEO Damion Greef discusses the company’s new Pathway offering with Alan Green on Core Finance TV

Damion Greef, CEO of Machine Learning Company Fedr8 explains how the company helps multi-level organisations migrate legacy applications to the cloud. He also discusses Pathway, Fedr8’s new one stop shop offering.

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