17 Feb 2023  

Tekcapital Plc

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

Portfolio Company Update

Guident and Auve Tech Execute Letter of Intent

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 Guident Ltd. ("Guident") has executed a letter of intent with Auve Tech OÜ ("Auve Tech") to provide remote monitoring and control ("RMCC") services for Auve Tech's autonomous vehicles. 

By combining Auve Tech's advanced Level 4 autonomous vehicles with Guident's RMCC software, the two companies will bring an enhanced level of safety to self-driving technology. Guident's patented software provides human-in-the-loop supervision, adding an extra layer of security to the Auve Tech's new MiCa autonomous shuttle. The Auve Tech next-generation vehicle is capable of autonomous driving in a variety of traffic and weather conditions, making it an ideal solution for safe, reliable, and sustainable transportation in geofenced areas and mixed-traffic environments.

The companies' plan to launch the Auve Tech MiCa autonomous vehicle combined with Guident's RMCC software to customers in North America during the second half of 2023.

The Auve Tech autonomous shuttle is aimed at enhancing last-mile transportation offering alternative means of transport in geofenced areas and mixed-traffic environments. Auve Tech has demonstrated its technology in various commercial projects in 12 countries and has proven that its vehicles can provide real autonomous mobility.

"Collaboration is key to driving innovation and progress in the field of autonomous vehicles. We are pleased to have executed a letter of intent (LOI) with Guident to have them provide our autonomous vehicles with their RMCC and monitoring service," said Johannes Mossov, Chairman of the Management Board of Auve Tech. "This will enable our SAE Level 4 autonomous vehicles to have state-of-the-art, remote monitoring and control upon delivery."

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 Auve Tech OÜ

Auve Tech specializes on the development and manufacturing of autonomous transportation systems. We offer a full-scope service that entails autonomous vehicles, their integration to various environments and fleet management. To learn more, please visit https://auve.tech/

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 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.