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| Date | 14 Nov 2022 |
| Time | 07:00:06 |
| Category | Miscellaneous |
| ID | 2201G |
14 Nov 2022
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update
Guident selected to provide Autonomous Shuttle Services
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 Ltd. ("Guident") has been selected by Boca Raton Innovation Campus (BRiC) to provide an autonomous shuttle service for a 2.1-mile fixed route with eleven stops within BRiC and connecting to the Boca Raton Tri Rail station, the most frequented station in South Florida. The service will utilize Polaris GEM e6 vehicles equipped with autonomous vehicle capabilities integrated with GUIDENT's Remote Monitor and Control Center (RMCC) located at BRiC. Guident's patented software solution provides an added layer of safety for autonomous shuttle services by delivering human in the loop supervision to autonomous vehicle fleets.
"We are pleased to have executed a letter of intent (LOI) with Guident to have them provide our autonomous and remotely monitored shuttle service throughout BRiC," said Michael Perrette, General Manager of CP Group, the owner-operator for BRiC. "Innovation and sustainability are driving forces for our business model. We look forward to partnering with Guident to contribute to these goals and the use of autonomous vehicle technology in the 21st century." Perrette is responsible for overseeing the operations of BRiC's 123 acres.
BRiC will upgrade its current traditional shuttle service with electric autonomous vehicles bringing transportation innovation to the largest single-office complex in the state of Florida. Designed by the father of brutalism, Marcel Breuer, the campus was originally built in 1969 for IBM's Research and Development facility and is home to the invention of the first personal computer and smartphone. The campus was acquired by CP Group in 2018 with the vision to bring BRiC's history into the future as an ecosystem for innovation and a science and technology hub.
"We are delighted to have been selected to provide an autonomous and remotely monitored shuttle service for the Boca Raton Innovation Campus. The campus' historic past and promising future make the perfect fit for our technology," said Harald Braun, Chairman & CEO of Guident Ltd.
The Market
According to Triton Market Research "the last mile AV autonomous vehicle delivery market is expected to reach $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 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 BRiC
Boca Raton Innovation Campus (BRiC) is the largest single facility office building in the State of Florida at 1.7 million square feet. Designed by Marcel Breuer, the campus was originally built in 1969 for IBM and is home to the invention of the first personal computer. The campus was acquired by CP Group in 2018 with the vision of building off BRiC's history and evolving the campus into a science and technology hub. An ideal landing spot for companies with large footprints, BRiC is currently home to 18 national headquarters and 19 regional offices, including Kroger, Modernizing Medicine, Canon, and Bluegreen Vacations. To learn more about the campus, visit http://workatbric.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.
For further information, please contact:
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Tekcapital Plc |
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Via Flagstaff |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
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+44 (0) 20 3470 0470 |
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Richard Morrison/Charlie Bouverat (Corporate Finance) Abigail Wayne / Rob Rees (Corporate Broking) |
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Flagstaff Strategic and Investor Communications |
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+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.