19 February 2024
Tekcapital
Plc
("Tekcapital", the "Company"
or the "Group")
Portfolio Company Update:
Guident, Ltd
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 an
overview of Guident Ltd's ("Guident") significant achievements over
the past year.
Built the first U.S. commercial Remote Monitor and Control
Centre (RMCC) for enhancing AV safety:
Guident's new, best-in-class RMCC including video
wall displays and visualisation system, is now commercially
available. This deployment is strategically located at the Boca
Raton Innovation Campus (BRiC). At 1.7 million square feet. BRiC is
the largest office complex in Florida, and the Southeast's premier
technology and life-sciences hub. This new RMCC will oversee an
autonomous shuttle service along a 2.1-mile fixed route within
BRiC. Furthermore, this next-generation RMCC is redefining the
scope of remote operator capabilities for monitoring and
controlling autonomous devices to enhance vehicle safety.
Strategic Partnerships Update
1. Adastec Corp. ("Adastec"):
Autonomous Buses
In October 2023, Guident established
a Strategic Partnership Agreement with Adastec, a renowned global
supplier of autonomous driving systems. Based in Michigan, U.S.A.,
Adastec Corp. has a strong R&D presence in Istanbul, Turkey,
with offices in Brabant, the Netherlands, and Stockholm, Sweden,
and collaborates with bus OEMs worldwide. Adastec's flowride.ai
system enables SAE
Level-4 operation for buses
manufactured by Karsan and Vicinity Motor Corp. Guident's
teleoperation solution, integrated with flowride.ai, represents a
breakthrough in autonomous transportation, offering full-scope
autonomous vehicle monitoring & control coupled with fleet
management. We believe that this technology integration elevates
the safety of self-driving technology. Guident's commitment to
deploying the safest and most efficient automated public
transportation aligns with Adastec's mission. Beginning this year,
Guident's RMCC solution will be integrated into Adastec's automated
buses being deployed in the U.S., solidifying our shared vision for
the future of mobility.
2. AuVe Tech OÜ ("Auve
Tech"):
Autonomous Shuttles
Guident's recently announced
strategic partnership with Auve Tech to integrate our RMCC
teleoperation system with Auve Tech's MiCa autonomous shuttles has
progressed to the implementation phase. Estonia based Auve
Tech produces autonomous shuttle vehicles that are currently
deployed in Europe and Asia. They are an integrated supplier of
both the vehicles and the autonomous driving software.
Guident is pleased to be actively integrating its teleoperation
system into the first Auve Tech MiCa shuttle to be shipped to the
United States this month under Guident's recently received National
Highway Traffic Safety Administration testing approval.
3.
Satellite Communication to Enhance
Teleoperations:
Partnership with Space Florida &
Novelsat
Guident was awarded a significant
grant from Space Florida in 2023 to implement satellite
communications as an additional connectivity option for AV's. Space
Florida is an independent entity formed by the State of Florida
devoted to advancing aerospace technologies and businesses in
Florida. This project has been underway since the middle of last
year and is on track to demonstrate teleoperation over satellite
communication links in the second quarter of 2024. This project is
a joint effort with Novelsat of Israel, a global provider of
innovative satellite communication services.
Satellite connectivity complements
the currently used public and private 4G/5G cellular connections
and will provide Guident's teleoperations with unsurpassed network
availability. Guident believe this unique differentiation creates a
competitive advantage for the company. Furthermore, Guident's
satellite capability enables it to provide teleoperation and RMCC
services to areas currently underserved by cellular networks,
reinforcing Guident's commitment to providing comprehensive
solutions across diverse environments.
Business Development and Sales update
Guident is making significant
strides in expanding its sales pipeline, marked by a recent
transition from a direct sales model to a value-added reseller
approach. This strategic shift has accelerated sales traction
through collaborations with our global partners.
Guident is pleased to report a
notable uptick in Requests for Proposals (RFPs), demonstrating
heightened interest in their teleoperation services. Guident's
interactions with their initial customer, the Jacksonville
Transportation Authority (JTA), remain ongoing, and the Company is
actively engaged in multiple additional upcoming
projects.
R&D Update - Teleoperation RMCC Roadmap for the Next 24
Months
The Guident R&D program for next
two years will focus on integrating new vehicle and autonomous
driving system partners, implementing the RMCC and teleoperation
product vision, and enhancing multi-network automation for top-tier
service availability. Integration with partners like Adastec and
Auve Tech is underway, with plans for further collaborations.
Additionally, Guident's technology roadmap emphasizes improving
remote control operator effectiveness and implementing augmented
reality features for enhanced situational awareness and passenger
communication. Guident recently adopted a software architecture
framework that helps to ensure scalable development, smooth feature
releases, customer upgrades, and efficient software license
management to support future growth.
The
Regenerative Shock Absorber
Guident has established a new
subsidiary, Revive Energy Solutions Ltd., wholly owned by Guident
Ltd. This subsidiary will facilitate future investment and is in
response to significant market traction for Guident's regenerative
shock absorber technology, collaboration with a leading tyre
manufacturer, and successful proof-of-concept testing
results. The company is actively engaged in rigorous testing
both in controlled laboratory environments and on vehicles in real
traffic scenarios. Progress is underway with multiple car
manufacturers, to assess the manufacturability, cost, and the best
approach to rapidly bring the technology to the world
market.
This groundbreaking technology aims
to produce electromagnetic regenerative shock absorbers with
exceptional energy densities, capable of capturing and utilizing
the vehicle's vertical movements that are part of everyday driving
on public roads, which are currently dissipated as wasted heat
energy. An additional patent application has been filed by Guident
to enhance damping characteristics while generating energy based on
road surface conditions.
National U.S. Autonomous Vehicle Day
Guident continues demonstrating that it is an AV
industry leader by hosting the upcoming National U.S. Autonomous
Vehicle Day (#AVDay) on May 31st, 2024. In 2023, the
event was co-hosted with the Jacksonville Transportation Authority
at the Armsdale Test and Learn Center in Jacksonville, Florida. The
event was a resounding success, featuring operating demonstrations
of autonomous public vehicles and insightful presentations by key
leaders in the industry. For this reason, both companies will
collaborate again this year to organize the event in Jacksonville.
The event promises to be a significant milestone in advancing
awareness of autonomous public transportation.
https://autonomousvehicleday.com/
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, its UK subsidiary.
For
further information, please contact:
Tekcapital Plc
|
|
Via 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's
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.