Guident Update

RNS Number : 2918T

Tekcapital plc

17 March 2023

 

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 as imported into the laws of England and Wales by virtue of the European Union (Withdrawal) Act 2018 (as amended) and certain other enacting measures ("UK 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.

17 March 2023  

Tekcapital Plc

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

Portfolio Company Update: Guident Ltd

Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university technologies into valuable products that can improve people's lives, is pleased to provide a progress report on Guident Ltd. ("Guident").

Guident is developing remote monitoring and control software to improve safety of autonomous vehicles and land-based delivery devices. Guident's software will incorporate artificial intelligence and advanced network technologies to minimize signal latency and help improve the safety of autonomous vehicles.

Since the start of 2023, Guident has enjoyed greater commercial traction and its sales pipeline grow as a result of meetings with new strategic partners and prospective customers. A strategic workshop also took place where Guident agreed on the R&D roadmap for 2023, including a newly defined order process and product names for the Remote Monitoring and Control Center solution (RMCC) and the Regenerative Shock Absorber (RSA) and its components.

Guident will shortly deploy its RMCC service for the Jacksonville Transportation Authority (JTA) and expects the first Purchase Order from the contract shortly.  Management visited JTA in February 2023 which resulted in defined actions for the deployment of Guident's proprietary teleoperation solution by May 2023.

RMCC

As announced on 17 Februry 2023, Guident signed a letter of intent with Auve Tech a developer and manufacturer of autonomous transportation systems . Guident's management team also visited Auve Tech with a view to deploying  turn-key solutions consisting of Guident's teleoperation software being included with Auve Tech's level-4 Autonomous vehicles to potential customers in the US, Europe, and Asia. 

Meeting Auve Tech Leadership Team in Estonia 2023

Auve Tech Autonomous Level-4 Shuttle

The Company is also finalizing its contract with the Boca Raton Innovation Campus (BRiC) to provide AV shuttle services, together with its partners. Guident's will update the market on the successful execution of this project in due course.

BRIC Campus and Proposed Autonomous Shuttle Route Map

Lastly,  Guident has partnered with Novelsat to provide space connectivity for AVs under the Space Florida project. Space Florida was created to strengthen Florida's position as a global leader in aerospace research, investment, exploration, and commerce by leveraging NASA's research ecosystem. We believe that such connectivity would further enhance Guident's competitive advantage by adding an always available, low earth orbit monitoring solution, for its remote monitoring and control centres.

LEO Satellites to be Used by Guident for System Redundancy

The Market

According to Triton Market Research ^" the last mile AV autonomous vehicle delivery 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 pedestrians, food and medicines to improve their availability and reduce the costs of these deliveries.

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 discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com .

LEI: 213800GOJTOV19FIFZ85

Tekcapital owns 100% of the share capital of Guident Ltd. Guident Ltd owns approximately 91% of Guident Corp., its US subsidiary.

For further information, please contact:

Tekcapital Plc		V ia Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated Adviser and Broker)		[phone]
Richard Morrison/Charlie Bouverat (Corporate Finance) Abigail Wayne / Rob Rees (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 ay 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.

 

END

 

 

PFUEAADKFASDEAA