TIDMTEK
Tekcapital plc
24 August 2023
24 August 2023
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update
Tekcapital Plc (AIM: TEK, 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 comprehensive snapshot of Guident Ltd's ("Guident")
significant achievements over the past year.
Elevating Core Solution Portfolio
Remote Monitor and Control Centre (RMCC) Enhancements
Guident is upgrading its Remote Monitor and Control Centre with
an enhanced user interface, resilient fault tolerance upgrades and
an innovative steering wheel integration with practical features.
Guident's consistent advancement aligns with monthly milestones,
positioning it well for a customer acceptance test scheduled for
early fall 2023 with its first major customer Jacksonville
Transportation Authority ("JTA"), followed by its inaugural
commercial deployment at the Boca Raton Innovation Campus (BRiC).
This marks the transition from the proof-of-concept phase to
commercial deployment.
Guident's HQ will move to BRiC and deploy the RMCC with the
best-in-class video wall displays and a visualization system for
the RMCC dashboards. The image below shows the RMCC rendering with
three Remote-Control Operator (RCO) stations.
AI Patent for Real-time Monitor and Control
In June 2023, Guident achieved a milestone by receiving notice
of allowance from the United States Patent and Trademark Office
related to its patent for AI methods and systems that facilitate
near real-time, intelligent remote monitor and control of
autonomous vehicles, robots, and drones. This achievement amplifies
Guident's patent portfolio, which now boasts 9 patents, reinforcing
its commitment to ensuring the safety and security of autonomous
operations.
The Regenerative Shock Absorber
In a significant leap, Guident secured a paid proof of concept
agreement with a tier-1 tire manufacturer. This collaboration
resulted in successful tests and detailed reports for the
regenerative shock absorber. This technology aims to manufacture
electromagnetic regenerative shock absorbers with high energy
densities that can recover a vehicle's vibration energy, otherwise
lost due to road irregularities, vehicle accelerations, and
braking.
Expansive Customer Engagements
Guident remains committed to its collaborative efforts with the
Boca Raton Innovation Campus, progressing with constructing
Guident's headquarters at BRiC and advancing with the autonomous
shuttle service on campus. This venture solidifies Guident's
presence as a key player in the autonomous vehicle ecosystem in the
U.S.
Guident's partnership with the Jacksonville Transportation
Authority (JTA), the largest transportation authority in the U.S.,
is thriving, evidenced by a monthly recurring purchase of its
teleoperation software solution. Guident is executing a successful
integration for JTA with one of their AVs at the Armsdale Test and
Learn Center.
The sales pipeline has experienced remarkable growth over the
past year, adapting a direct and indirect sales approach, opening a
wealth of exciting opportunities for Guident in the immediate
future.
Space Florida Grant Award
Guident and Novelsat, a global leader in content connectivity,
partnered earlier this year to develop an innovative always-on,
ubiquitous remote monitor and control solution for autonomous
vehicles and devices. Guident has been awarded funding for this
project under the Florida-Israel Innovation Partnership program by
Space Florida. The grant is awarded to develop a safer RMCC for
monitoring, management, and backup control of terrestrial
autonomous vehicles with satellite communications.
Strategic Collaborations Drive Growth
In the past year, a critical strategic emphasis was fostering
partnerships with autonomous vehicle (AV) manufacturers and
impactful ecosystem allies. The focus on this topic has
significantly increased Guident's patent portfolio, evolving it
from a local to a global presence. Leveraging diverse AV fleets for
promising projects has increased new sales opportunities and
demonstrated remarkable sales potential.
One outstanding partnership was with Auve Tech, a prominent
autonomous vehicle system provider from Estonia, catering to a
client base across Europe and Japan. On March 15, 2023, Guident
signed a strategic partnership agreement with Auve Tech with the
shared objective of revolutionizing autonomous vehicle solutions.
This collaboration is focussed around Auve's MiCa autonomous
shuttles, which Auve believe are poised to redefine local mobility
solutions.
Leadership Engagements and Industry Presence
Showcasing Guident's Vision
Guident's dedicated team participated in six high-profile
industry networking events and podcasts, including Move America
Austin, CES Las Vegas, Mobile World Congress Barcelona, CoMotion
Miami, Autonomous Vehicle Day Jacksonville, and the American
Council of the Blind Sunday Edition podcast.
Guident's CEO engaged in meaningful discussions on AV safety,
accessibility, and societal impact during the American Council of
the Blind Sunday Edition Podcast-Guident's nurturing relationships
with disability community organizations to create impactful AV
mobility solutions.
Guident's exhibition at the CoMotion industry event in Miami,
and the Autonomous Vehicle Day in Jacksonville, underscored
technology demonstration and industry engagement.
National U.S. Autonomous Vehicle Day
Guident's National Autonomous Vehicle Day events have gained
remarkable traction. In 2022, Guident demonstrated leadership by
hosting the National U.S. Autonomous Vehicle Day (#AVDay) on May
31(st) . The event, held at BRiC in Boca Raton, Florida, not only
celebrated technological advancements but also paved the way for
implementing autonomous vehicle technology. This year marked the
second installment of the event. The 2023 AV Day was even more
impressive, combining in-person attendance with live streaming.
Collaborating with the Jacksonville Transportation Authority as
co-hosts, the event was at the Armsdale Test and Learn Center in
Jacksonville, Florida. The AV Day 2023 event brought together 259
industry attendees. Central to the event's success was the
dedicated AV Day LinkedIn profile, engaging audiences and
channelling traffic to the official website,
AutonomousVehicleDay.com. The event received support from 11
sponsors and featured ten technology demonstrators and nine
speakers.
The Market
According to Triton Market Research (") the last mile AV
autonomous vehicle delivery market is expected to reach US$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 patented technology to enable safer
autonomous vehicles and devices by providing industry-leading AV
remote monitoring, control, assistance, and passenger support
services. To learn more, please visit www.guident.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.
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 +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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