TIDMPIRI
Pires Investments PLC
06 October 2020
06 October 2020
Pires Investments plc
("Pires" or the "Company")
UN uses VRE's ENGAGE platform to host major global event in
VR
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, is pleased to provide an
update on its investment in Sure Valley Ventures ("SVV") in
relation to VR Education Holdings plc ("VRE") (AIM: VRE; Euronext
Growth: 6VR), a leading virtual reality ("VR") technology company,
a company within the SVV portfolio.
VRE has announced that its ENGAGE platform, which hosts virtual
events, virtual training and remote distance learning, has been
chosen to facilitate the United Nations' ("UN") annual 'Global
Youth Takeover' event on 24 October 2020.
With COVID-19 making many physical events impossible, using VR
technology, the ENGAGE platform can provide attendees of virtual
conferences with a real live event experience. Attendees can watch
presentations or shows and walk around different areas to talk to
people. Delegates at the UN event will be able to hear from global
influencers, including, among others:
-- Dr Tedros Adhanom Ghebreyesus: the Director General of the World Health Organisation
-- Siyabulela Mandela: Journalist and grandson of Nelson Mandela
-- Jayathma Wickramanayake: UN Undersecretary and UN Envoy on Youth
-- Julianne Hough: Actress and Performer (including as a judge on America's Got Talent)
The event will culminate in a virtual performance from musician
Pitbull, who has approximately 100 million social media
followers.
The UN is the latest organisation to use both VR and ENGAGE to
host a significant event. The coronavirus pandemic has accelerated
the demand for VR as a tool for event organisation as well as
delivering remote distance learning and training. This year ENGAGE
has been used by a growing number of global companies and
organisations for virtual training and events, many of which have
originated through VRE'S partnership with HTC, including the
European Commission, Ericsson, Facebook, McKinsey & Company,
the United States Air Force, and Yahoo!
Pires has a circa 13% interest in SVV. SVV is a venture capital
fund focused on investing in the software technology sector with a
specific focus on artificial intelligence, the internet of things
and immersive technologies.
Peter Redmond, Chairman of Pires, commented:
"The UN's use of VRE's ENGAGE platform for its annual 'Global
Youth Takeover' event is fantastic news. With the COVID-19 pandemic
forcing physical events to be either postponed or to go ahead
without an audience, the move towards virtual events being held was
inevitable. The ENGAGE platform will enable the UN's event to go
ahead as planned and will offer delegates a truly unique, immersive
experience.
"VRE have seen demand for its ENGAGE platform accelerate as a
result of the pandemic, and this event will no doubt further
enhance VRE's profile globally. Having been designed primarily as a
communications tool for education and training, ENGAGE has now been
quickly adapted to address the needs of a variety of industries and
event organisers as they look to generate revenue without audiences
in attendance. We therefore look forward to updating the market
with VRE's progress in due course."
- Ends -
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Peter Redmond, Chairman
Nicholas Lee, Director
Broker
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0935
Duncan Vasey/Lucy Williams Tel: +44 (0) 20 7469 0936
Joint broker
Mirabaud Securities Limited Tel: +44 (0) 20 3167 7221
Peter Krens
Financial media and PR
Yellow Jersey Tel: +44 (0) 20 3004 9512
Sarah Hollins
Henry Wilkinson
Annabel Atkins
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company
providing investors with access to a portfolio of next generation
technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech
businesses across areas such as Artificial Intelligence ("AI"),
Internet of Things ("IoT"), Cyber Security, Machine Learning,
Immersive Technologies and Big Data, which the Board believes
demonstrate evidence of traction and the potential for exponential
growth, due to increasing global demand for development in these
sectors.
For further information, visit: https://piresinvestments.com/
.
About VR Education
VR Education, together with its wholly owned subsidiary, is an
early stage VR software and technology group based in Waterford,
Ireland, dedicated to transforming the delivery methods of
education and corporate training by utilising VR technologies to
deliver fully immersive virtual learning experiences. The company's
core focus is the development and commercialisation of its online
virtual social learning and presentation platform called ENGAGE,
which provides a platform for creating, sharing and delivering
proprietary and third-party VR content for educational and
corporate training purposes.
In addition to the ongoing development of the ENGAGE platform,
the company has also built two downloadable showcase VR
experiences, being the award-winning Apollo 11 VR experience and
the Titanic VR experience.
Further details about VRE can be found at www.vreducationholdings.com .
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