Tekcapital plc Portfolio Company Update - Guident (3227X)

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 the public domain.

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)                               [phone] 
Richard Morrison/Charlie Bouverat (Corporate 
 Finance) 
Abigail Wayne (Corporate Broking) 
 
Flagstaff Strategic and Investor Communications    [phone] 
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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May 04, 2021 02:00 ET (06:00 GMT)