TIDMTEK
Tekcapital plc
17 February 2023
17 Feb 2023
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update
Guident and Auve Tech Execute Letter of Intent
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 announce that Guident Ltd. ("Guident") has
executed a letter of intent with Auve Tech OÜ ("Auve Tech") to
provide remote monitoring and control ("RMCC") services for Auve
Tech's autonomous vehicles.
By combining Auve Tech's advanced Level 4 autonomous vehicles
with Guident's RMCC software, the two companies will bring an
enhanced level of safety to self-driving technology. Guident's
patented software provides human-in-the-loop supervision, adding an
extra layer of security to the Auve Tech's new MiCa autonomous
shuttle. The Auve Tech next-generation vehicle is capable of
autonomous driving in a variety of traffic and weather conditions,
making it an ideal solution for safe, reliable, and sustainable
transportation in geofenced areas and mixed-traffic
environments.
The companies' plan to launch the Auve Tech MiCa autonomous
vehicle combined with Guident's RMCC software to customers in North
America during the second half of 2023.
The Auve Tech autonomous shuttle is aimed at enhancing last-mile
transportation offering alternative means of transport in geofenced
areas and mixed-traffic environments. Auve Tech has demonstrated
its technology in various commercial projects in 12 countries and
has proven that its vehicles can provide real autonomous
mobility.
"Collaboration is key to driving innovation and progress in the
field of autonomous vehicles. We are pleased to have executed a
letter of intent (LOI) with Guident to have them provide our
autonomous vehicles with their RMCC and monitoring service," said
Johannes Mossov, Chairman of the Management Board of Auve Tech.
"This will enable our SAE Level 4 autonomous vehicles to have
state-of-the-art, remote monitoring and control upon delivery."
"The partnership between Guident and Auve Tech represents a step
forward in creating safer, smart, and sustainable transportation
solutions for communities. We are excited to see the launch of the
new MiCa autonomous vehicle with Guident's RMCC software, which
promises to deliver an added layer of safety and reliability in
autonomous driving, " said Harald Braun, Chairman & CEO of
Guident Ltd.
MiCa: a new-generation self-driving shuttle from Auve Tech.
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 Auve Tech OÜ
Auve Tech specializes on the development and manufacturing of
autonomous transportation systems. We offer a full-scope service
that entails autonomous vehicles, their integration to various
environments and fleet management. To learn more, please visit
https://auve.tech/
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.
For further information, please contact:
Tekcapital Plc V ia Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP
Nominated Adviser and Broker +44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate
Finance)
Abigail Wayne / Rob Rees (Corporate
Broking)
Flagstaff Strategic and Investor Communications +44 (0) 20 7129 1474
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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END
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February 17, 2023 02:00 ET (07:00 GMT)
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