Portfolio Company Update - Guident

19th April 2022  

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Portfolio Company Update: Guident Ltd ("Guident")

Perrone Robotics, Inc. and Guident Corp. Sign Strategic Alliance

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 has executed a strategic alliance with Perrone Robotics, Inc.

Guident develops software solutions for remote monitoring and teleoperation of autonomous vehicles, and Perrone Robotics, Inc., is a leading provider of autonomous vehicle kits and full autonomy software.

The objective of the alliance is to seamlessly integrate GUIDENT's remote monitoring and teleoperation solution (RMCC) with Perrone Robotics TONY AV kit for highly automated vehicles. The scalable deployment of safe & reliable autonomous vehicles requires a fast, reliable network coupled with low-latency, remote monitoring and control software, to facilitate fleet level management of multiple, concurrently operating autonomous vehicles. 

With Perrone Robotics TONY^TM AV Kit and GUIDENT's RMCC teleoperations communications system, municipalities and other fleet operators will be able to provide testing environments and commercially deploy Level-4 autonomy AV shuttles across a wide variety and quantity of vehicles.

This strategic alliance is a key milestone for both companies as they seek to seamlessly enhance the scalable deployment of safe and reliable autonomous vehicle transport.

Paul Perrone, CEO of Perrone Robotics, said, "We are really excited to partner with Guident to incorporate their remote monitoring and control software into vehicles equipped with our TONY full autonomous driver kit. As we are now addressing client demands for fleet level operations of multiple vehicles, and driverless operations, bringing remote monitoring and teleoperation controls to operations becomes a key element for scale. Together, Guident and Perrone Robotics are able to bring scalable fleet-level autonomous vehicle operations to clients for the first time."

"We believe this strategic alliance will be a significant step towards the adoption of autonomous vehicles for municipalities. Perrone's TONY AV kit coupled with Guident's RMCC is a turn-key solution for any municipality seeking vehicle independent, automated transit of people and goods in geo-fenced and localized operations," said Harald Braun, Executive Chairman of Guident.

Guident and Perrone Robitics will be exhibiting at Comotion Miami on April 20th & 21st, 2022.

The Potential Market

According to Allied Market Research, "The autonomous vehicle market is expected to reach $556 billion by 2026 with a CAGR of 39%.¹ Contactless or "touch-free" delivery is in high demand due to the COVID 19 pandemic.^2,3 Guident believes this increased demand will accelerate the roll-out of land-based delivery drones for people, and a wide variety of products to improve mobility and reduce the costs of deliveries.

About Perrone Robotics, Inc.

Perrone is a leading provider of fully automated vehicle systems. The company delivers mobility excellence via TONY® (short for "TO Navigate You"), a vehicle independent retrofit kit for use in the automated transit of people and goods in geo-fenced and localized operations. TONY embeds inside any vehicle type or model, for any job application to provide a complete "artificial driver" solution that brings full autonomy in a safety certifiable framework. Proven, piloted and in commercial production, Perrone automated systems help commercial, municipal, and governmental customers increase transportation efficiencies, enhance safety, and accelerate zero-emission electric vehicle deployment. The company also offers a portfolio of existing turnkey automated shuttles and vehicles pre-integrated with the TONY retrofit kit. Learn more please visit www.perronerobotics.com or follow us @perronerobotics.

About Guident Ltd.  

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 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:

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 Tekcapital, Guident or Perrone 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 Tekcapital, Guident's or Perrone'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 materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Tekcapital, Guident or Perrone. may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Tekcapital, Guident nor Perrone intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments, which differ from those anticipated.

References

1-https://www.alliedmarketresearch.com/autonomous-vehicle-market   

2-https://www.cnet.com/how-to/how-to-safely-order-food-delivery-takeout-and-groceries-during-coronavirus-quarantines/

3-https://techcrunch.com/2020/04/01/uber-eats-beefs-up-its-grocery-delivery-offer-as-covid-19-lockdowns-continue/