54 month - 40 Seat VR Theatre Deal Signed

RNS Number : 0752M

Immotion Group PLC

19 May 2022

 

Immotion Group plc

("Immotion", the "Company" or the "Group")

54 month - 40 Seat VR Theatre deal signed with Milwaukee County Zoo

Following our recent results and Company update on 26 April 2022, Immotion confirms the signing of a revenue share agreement with Milwaukee County Zoo, Wisconsin, USA for the installation of a 40-seat VR Theatre, including pre-show. Milwaukee County Zoo boasts an annual footfall of 1.3m visitors, with peak summer days seeing over 10,000 visitors.

Immotion will utilise a 500 square metre stand-alone building in the heart of the zoo to create this amazing new attraction. The theatre will feature Immotion's latest live-action experience, "Gorilla Trek," which was created in association with the Dian Fossey Gorilla Fund.

Visitors will be virtually transported to the mountains of Rwanda where they immerse themselves in the habitat and daily lives of the endangered mountain gorilla. Themed inside and out by Immotion's design team, the immersive experience centre will feature an extensive pre-show where guests interact with touch-screen displays and infographics, giving them a valuable understanding of the plight of the mountain gorilla and a chance to learn more about the individual gorillas featured in the film, in addition to those in the zoo itself. The outside theming will feature giant LED walls surrounding the entrance portal, enticing visitors to the new attraction.

Work will commence immediately with a target opening date of the second half of July 2022 and the contract will continue until 31 December 2026.

The installations at Milwaukee County Zoo, Pittsburgh Zoo (announced 27 April 2022) and the additional seats to be installed at Sea Life London (announced 11 April 2022) will take the number of new headsets installed this calendar year to 108 when completed (and the overall estate to 468).

The new seats, including motion platforms and VR headsets, will be fulfilled from stock currently held by Immotion.

Trading continues to be in line with our expectations, with unaudited revenue of circa £870k for our core Location Based Entertainment ("LBE") business in April 2022. This brings total unaudited LBE revenue to £2.7m in the four months to 30 April 2022 (versus £2.3m in the first 6 months of 2021).

Martin Higginson, CEO, Immotion Group plc said:

"We are pleased to confirm the signing of a new 40 seat VR theatre at Milwaukee County Zoo. Our team have worked incredibly hard to secure this major signing.

"The focus on both aquariums and zoos is starting to pay dividends, and I believe that once other zoos see this latest installation our order book will get even busier. Based on discussions and pipeline, we continue to be very excited at our prospects for further growth."

Rod Findley, President, LBE & Group Commercial Director, Immotion Group plc said:

"The Milwaukee County Zoo project will be a flagship installation as we move forward with our 2022 zoo initiative. This experience centre will truly highlight the talents that make Immotion the leader in immersive edutainment for zoos and aquariums. From the moment the guest steps into the building, they are transported to the mountains of Rwanda; the pre-show engages them and sets the stage for an unforgettable VR journey into the heart of a mountain gorilla family. We could not be more proud to be working with our partners at Milwaukee County Zoo who have a clear and forward-thinking vision of how to integrate new technologies into their zoo offering."

Enquiries:

For further information please visit www.immotion.co.uk , or contact:

Immotion Group plc	Martin Higginson David Marks	[e-mail]
WH Ireland Limited (Nomad and Joint Broker)	Jessica Cave Darshan Patel Ben Good	Tel + 44 (0) 207 220 1666
Alvarium Capital Partners (Joint Broker)	Alex Davies	Tel: [phone]

Shard Capital Partners LLP (Co-Broker)

Damon Heath Erik Woolgar

Tel: [phone]

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

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