TIDMTEK
Tekcapital plc
24 February 2023
(-----)
24 Feb 2023
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update
NOVELSAT and Guident Partner to Enhance
Autonomous Systems Safety with Space Connectivity
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 portfolio company Guident Ltd.
("Guident") has partnered with Novelsat Ltd. (NOVELSAT), a global
leader in content connectivity, to develop an innovative always-on,
ubiquitous remote monitor and control solution for autonomous
vehicles and devices.
The solution combines space communications using low earth orbit
satellites, and smart software to ensure optimal safety and
security for autonomous vehicles and devices, by enabling remote
monitoring and operation at any time and place and providing a
further layer of monitoring in addition to 5G & GPS. This
integration of NOVELSAT's satellite-based space connectivity
technologies and Guident's human-in-the-loop AI technologies will
provide a reliable and high-speed bi-directional connectivity. This
connectivity enables continuous, high-quality video streaming to
remotely monitor autonomous systems and, when necessary, to enable
remote control of the vehicles and devices to resolve various edge
cases. Additionally, the connectivity will provide real-time audio
and video communication with passengers, pedestrians, or first
responders, ensuring the highest level of safety for autonomous
systems, which is a crucial factor in the deployment and management
of such systems.
"NOVELSAT is excited to partner with Guident to bring the
highest level of safety to autonomous systems," said Gary Drutin,
CEO of NOVELSAT. "Our space-based connectivity solutions will
ensure the always-on, high-capacity connectivity that is essential
for the safe deployment and operation of autonomous vehicles and
devices in diverse environments. We believe that this partnership
will enable us to lead the way in providing innovative connectivity
solutions that meet the needs of the autonomous systems
industry."
"Guident is thrilled to work with NOVELSAT to create an
exceptional remote monitoring and control solution for autonomous
vehicles and devices," said Harald Braun, Chairman and CEO of
Guident. "Leveraging cross-network connectivity, our
human-in-the-loop AI technologies will enable always-on remote
monitoring control of autonomous vehicles and devices, thereby
resolving unforeseen situations and providing unparalleled safety
and reliability in various applications. We believe the integration
of these technologies is a game-changer, and we are excited to be
at the forefront by providing low earth orbit satellite monitoring
redundance in addition to 5G and GPS monitoring of autonomous
vehicles."
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 NOVELSAT
NOVELSAT is a leading provider of next-generation content
connectivity solutions. Powered by innovative technologies, our
broadcast and broadband solutions are transforming networks'
capabilities to expand growth potential and to drive new
experiences on any device, anytime, anywhere. Our high-performance
products for satellite and terrestrial content connectivity include
integrated video solutions and highly efficient broadband
connectivity solutions, as well as best-in-industry content
security solutions. Transforming delivery of data and video with
new levels of performance, efficiency, agility, and security,
NOVELSAT empowers mission-critical and demanding applications for
the mobile, media, entertainment, government, and mobility markets.
For more information visit www.novelsat.com .
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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