TIDMTEK
Tekcapital plc
06 September 2023
(-----)
6 September 2023
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update
Guident ltd forms new subsidiary to commercialise regenerative
shock absorbers
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 announce that Guident ltd has established a new subsidiary to
facilitate the commercialisation of their regenerative shock
absorbers (RSA). The subsidiary will contain Guident's RSA
intellectual capital including patents, licenses, industrial
designs, proprietary data, know-how and relevant team members.
As previously announced, Guident secured a paid proof of concept
agreement with a tier-1 OEM. This collaboration resulted in
successful tests and detailed reports for Guident's regenerative
shock absorber. Guident's technology enables regenerative shock
absorbers with high energy densities that can recover a vehicle's
vibration energy, otherwise lost as heat, due to road
irregularities, vehicle accelerations, and braking.
Harald Braun, CEO & Chairman of Guident commented:
"In light of our recent successes in collaboration with various
independent test authorities, we are thrilled to announce the
integration of RSA technology into a new dedicated subsidiary named
ReVive Energy Solutions, ltd. This strategic move allows us to
sharpen our focus on a precision-targeted go-to-market strategy for
this what we believe is a revolutionary product. Most commercially
available electric vehicles have regenerative braking. We believe
that in the near future, most commercial electric vehicles will
also have regenerative shock absorbers. This could extend the range
between charges and provide power to active suspension to improve
ride characteristics and comfort. Our commitment to innovation and
sustainability drives us forward, and we believe this marks a
significant milestone in our mission to reshape the future of EV
technology."
The Market
The Edison Electric Institute (EEI) Projects 26.4 million
electric vehicles will be on U.S. roads in 2030. [1]
According to the International Energy Agency (IEA), worldwide,
350 million electric vehicles are projected to be on the road by
2030. [2]
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 and 100% of ReVive Energy Solutions, 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.
[1]
https://www.eei.org/en/news/news/all/eei-projects-26-million-electric-vehicles-will-be-on-us-roads-in-2030#::text=Roads%20in%202030-,
EEI%20Projects%2026.4%20Million%20Electric%20Vehicles%20Will%20Be%20on%20U.S.,Infrastructure%20Required%20Through%202030%20report.
[2]
https://www.iea.org/reports/by-2030-evs-represent-more-than-60-of-vehicles-sold-globally-and-require-an-adequate-surge-in-chargers-installed-in-buildings
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