TIDMTEK
RNS Number : 3227X
Tekcapital plc
04 May 2021
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"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
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4 May 2021
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update: Guident Ltd ("Guident")
Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual
property investment group focused on creating valuable products
from investing in university technologies that can improve the
quality of life, is pleased to announce that portfolio company
Guident has demonstrated its low-latency, vehicle control software
to power its Remote Monitoring and Control Center.
Guident Ltd, the developer of software for improving the safety
of autonomous vehicles (AVs) and delivery robots, announces the
successful demonstration of its remote-control technology. This
will be used in its first remote monitoring and control center
(RMCC) for AVs, to be launched later this year in Boca Raton,
Florida. The RMCC will be able to monitor multiple vehicles from a
remote, secure monitoring centre, akin to air traffic control.
Also known as teleoperations, the remote-control robotics
software leverages a secure, low-latency connection. The RMCC's
goal is to rapidly track the location, monitor the surroundings and
when necessary, take over control of AVs in the event of an
accident or mishap. Guident believes this center will provide last
mile delivery fleet operators with an additional level of safety,
whilst complying with Florida law , which requires a remote
monitoring and control centre for AV's that do not have drivers or
safety operators within the vehicles.
The company has unveiled its new capabilities via a video
demonstration . Guident's RMCC is covered by six U.S. patents
several with foreign counterparts and proprietary software designed
to enhance the safety of autonomous deliveries.
The Market
According to Triton Market Research (") the last mile AV
delivery market autonomous vehicle market is expected to reach
$41.7 billion by 2028 with a CAGR of 19%. Contactless or
"touch-free" delivery is in high-demand since the COVID 19 pandemic
and Guident believes this increased demand will accelerate the
roll-out of land-based delivery drones for food and medicines to
improve their availability and reduce the costs of these
deliveries.
"We are incredibly pleased to announce the successful
introduction of our secure software platform designed to power our
RMCC. This system is device-agnostic, works with any 5G public
mobile or private LTE network and has reduced signal latency when
compared with traditional telemetric video monitoring and control
systems," says Harald Braun, Chairman & CEO of Guident Ltd.
"Its exciting to see the significant and rapid progress of
Guiden t," said Dr Clifford M. Gross, Executive Chairman of
Tekcapital.
About Guident
Guident commercializes new technology to enhance the safety,
efficiency and utility of autonomous vehicles and ground-based
drones using its proprietary IP & software apps for remote
monitoring and control. To learn more please visit
www.guident.co
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
Tekcapital owns 100% of the share capital of Guident Ltd.
For further information, please contact:
Tekcapital Plc Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated
Adviser and Broker) +44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate
Finance)
Abigail Wayne (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
Forward Looking Statements
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Guident or Tekcapital that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Guident' and/or
Tekcapital's management. Please note that these are subject to a
number of risks, uncertainties and factors, including, but not
limited to those described in various disclosures. Should one or
more of these risks or uncertainties materialise, or should
underlying expectations not occur or assumptions prove incorrect,
actual results, performance or achievements of Guident or
Tekcapital may vary materially from those described explicitly or
implicitly in the relevant forward-looking statement. Neither
Guident nor Tekcapital intends, nor assumes any obligation, to
update or revise these forward-looking statements in light of
developments which differ from those anticipated.
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END
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