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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Tp Group Plc | LSE:TPG | London | Ordinary Share | GB0030591514 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.20 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
TIDMTPG
TP Group PLC
06 October 2020
6 October 2020
TP Group plc
("TP Group", "the "Company" or the "Group")
Artificial Intelligence system contract in the United States
TP Group (AIM: TPG), the provider of mission-critical solutions for a more secure world, is pleased to announce that it has signed a contract worth c.GBP0.2m with Mountain Horse Solutions of Colorado Springs CO, to develop an autonomous navigation platform for land-based vehicles for the United States Department of Defense.
The contract starts immediately for a period of nine months. The TP Group Digital Solutions team based at Fareham in Hampshire, working in partnership with Mountain Horse Solutions, will develop and demonstrate a system for a convoy of autonomous vehicles using the autonomous navigation element of TP Group's existing suite of AI, machine learning and decision support software tools.
Following successful demonstration of the concept, there is the potential to move to a production model that could go into live operation by the end of 2021.
Phil Cartmell, Chief Executive Officer of TP Group, commented:
"We are very excited to begin work on another application of our AI tools, this time for land vehicles.
"It is the first commercial business for these systems in the United States and we look forward to working with Mountain Horse Solutions to build upon this contract and generate further business in this key market."
For further information, please contact:
TP Group plc Tel: 01753 285 810 Phil Cartmell, Chief Executive Officer Derren Stroud, Chief Financial Officer www.tpgroup.uk.com Cenkos Securities plc Tel: 020 7397 8980 Stephen Keys / Mark Connelly / Callum Davidson www.cenkos.com Vigo Communications Tel: 020 7390 0230 Jeremy Garcia / Charlie Neish www.vigocomms.com
Notes to Editors
TP Group delivers complex equipment, software and services for mission, business and safety critical applications in defence, space, intelligence & security and energy sectors. With more than 400 people in 6 European countries, it serves global customers through long-term contracts. The Group's shares have been traded on AIM since July 2001.
This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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October 06, 2020 02:00 ET (06:00 GMT)
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