Bird & Bird is advising San Francisco-based Applied Intellectual Capital on its £40.2m admission to AIM. The firm, led by corporate partner Alastair Crellin and associate David Lowe, is acting for the electrochemicals group on its £20m placing, its first instruction from the company. Faegre & Benson, led by partner Max Audley, is acting for nominated adviser Nabarro Wells & Co and broker Mirabaud Securities. US firm Leland Parachini Steinberg Matzger & Melnick, led by partners Jim Allen and Matteo Dastle, is acting on the international aspects of the listing. Applied develops electrochemical technologies with applications including water purification, mine waste treatment, energy storage, renewable energy and sustainable resources.