Commercial Update

RNS Number : 9177Z

VR Education Holdings PLC

23 May 2019

 

For immediate release

23 May 2019

VR Education Holdings plc

('VR Education' or the 'Group')

Commercial Agreement with U.S. Space & Rocket Center and selection for Oculus Anywhere Programme

VR Education (AIM: VRE; Euronext Growth: 6VR), a leading virtual reality ('VR') technology company focused on the education space, is pleased to announce that on 22 May 2019 the Group signed a commercial agreement ('Agreement') with the U.S. Space and Rocket Center in Huntsville, Alabama, one of the top aviation and aerospace museums in the USA and Alabama's top paid tourist attraction, for use of the Group's Apollo 11 VR experience in a major new attraction to celebrate the 50th anniversary of the moon landing.  The U.S. Space and Rocket Center is a Nasa Visitor Centre and also a Smithsonian Affiliate.

This new attraction, which opens on 10 June 2019, will provide visitors to the U.S. Space and Rocket Center the opportunity to experience the moon landing within virtual reality using a shortened version of the Company's showcase Apollo 11 VR experience. Visitors can purchase tickets for this experience at any one of 15 stations at circa US$10-15 and VR Education will benefit from this through a revenue share negotiated as part of the Agreement.

Apollo 11 VR chosen by Facebook as part of Oculus Anywhere Programme

The Group also announces that Apollo 11 VR has been chosen by Facebook as part of the Oculus Anywhere Programme.  This programme is designed to deliver the best-in-class demo experience of Oculus Quest, Oculus Rift S, Oculus Rift and Oculus Go in a branded kiosk, with hardware and software, and staffed by Oculus Brand Ambassadors. These are the demo experiences that will be on show at conferences like Sundance, PAX, F8, GDC. Each of the demo events are approved by Oculus marketing, and the content is curated from their list of pre-approved apps.

David Whelan, CEO of VR Education, said:

"We are delighted to be working with the U.S. Space and Rocket Center where this year they are expecting over one million visitors to walk through their doors. The Center has given us a prime location within the museum where visitors can participate in the Apollo 11 VR experience.  It is fantastic to be working with the U.S. Space and Rocket Center, which has major plans for the promotion of this experience to coincide with the 50^th anniversary of the moon landing."

"It is also great to be working with Facebook to promote educational content via our Apollo 11 VR experience, which was updated to an HD version last year, to show users that VR is used for more than just entertainment."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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For further information, please contact:

VR Education Holdings plc David Whelan, CEO Sandra Whelan, COO	Tel: [phone] [e-mail]
Cairn Financial Advisers LLP (Nominated Adviser) James Caithie / Liam Murray / Richard Nash	Tel: [phone]
Shore Capital (Joint Broker) Andy Crossley / Richard Johnson	Tel: [phone]
Davy (Joint Broker & Euronext Growth Advisor) Fergal Meegan / Ronan Veale / Barry Murphy	Tel: [phone]
Buchanan (UK Financial PR) Henry Harrison-Topham / Chris Lane / Tilly Abraham	Tel: [phone] [e-mail]

Notes to Editors

VR Education, together with its wholly owned subsidiary, is an early stage VR software and technology group based in Waterford, Ireland, dedicated to transforming the delivery methods of education and corporate training by utilising VR technologies to deliver fully immersive virtual learning experiences.  The Group's core focus is the development and commercialisation of its online virtual social learning and presentation platform called ENGAGE, www.engagevr.io, which provides a platform for creating, sharing and delivering proprietary and third-party VR content for educational and corporate training purposes.

In addition to the ongoing development of the ENGAGE platform, the Group has also built three downloadable showcase VR experiences, being the award-winning Apollo 11 VR experience, the award-winning Titanic VR experience and the award-winning 1943: Berlin Blitz.

On 12 March 2018, VR Education listed on the AIM market of the London Stock Exchange and on Euronext Growth, a market regulated by Euronext Dublin.

For further information, please visit www.vreducationholdings.com.

 

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