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| Date | 24 Feb 2023 |
| Time | 07:00:05 |
| Category | Miscellaneous |
| ID | 9169Q |
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24 Feb 2023
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update
NOVELSAT and Guident Partner to Enhance
Autonomous Systems Safety with Space Connectivity
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 partnered with Novelsat Ltd. (NOVELSAT), a global leader in content connectivity, to develop an innovative always-on, ubiquitous remote monitor and control solution for autonomous vehicles and devices.
The solution combines space communications using low earth orbit satellites, and smart software to ensure optimal safety and security for autonomous vehicles and devices, by enabling remote monitoring and operation at any time and place and providing a further layer of monitoring in addition to 5G & GPS. This integration of NOVELSAT's satellite-based space connectivity technologies and Guident's human-in-the-loop AI technologies will provide a reliable and high-speed bi-directional connectivity. This connectivity enables continuous, high-quality video streaming to remotely monitor autonomous systems and, when necessary, to enable remote control of the vehicles and devices to resolve various edge cases. Additionally, the connectivity will provide real-time audio and video communication with passengers, pedestrians, or first responders, ensuring the highest level of safety for autonomous systems, which is a crucial factor in the deployment and management of such systems.
"NOVELSAT is excited to partner with Guident to bring the highest level of safety to autonomous systems," said Gary Drutin, CEO of NOVELSAT. "Our space-based connectivity solutions will ensure the always-on, high-capacity connectivity that is essential for the safe deployment and operation of autonomous vehicles and devices in diverse environments. We believe that this partnership will enable us to lead the way in providing innovative connectivity solutions that meet the needs of the autonomous systems industry."
"Guident is thrilled to work with NOVELSAT to create an exceptional remote monitoring and control solution for autonomous vehicles and devices," said Harald Braun, Chairman and CEO of Guident. "Leveraging cross-network connectivity, our human-in-the-loop AI technologies will enable always-on remote monitoring control of autonomous vehicles and devices, thereby resolving unforeseen situations and providing unparalleled safety and reliability in various applications. We believe the integration of these technologies is a game-changer, and we are excited to be at the forefront by providing low earth orbit satellite monitoring redundance in addition to 5G and GPS monitoring of autonomous vehicles."
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 NOVELSAT
NOVELSAT is a leading provider of next-generation content connectivity solutions. Powered by innovative technologies, our broadcast and broadband solutions are transforming networks' capabilities to expand growth potential and to drive new experiences on any device, anytime, anywhere. Our high-performance products for satellite and terrestrial content connectivity include integrated video solutions and highly efficient broadband connectivity solutions, as well as best-in-industry content security solutions. Transforming delivery of data and video with new levels of performance, efficiency, agility, and security, NOVELSAT empowers mission-critical and demanding applications for the mobile, media, entertainment, government, and mobility markets. For more information visit www.novelsat.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.