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6 September 2023  

Tekcapital Plc

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

Portfolio Company Update

Guident ltd forms new subsidiary to commercialise regenerative shock absorbers

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 announce that Guident ltd  has established a new subsidiary to facilitate the commercialisation of their regenerative shock absorbers (RSA). The subsidiary will contain Guident's RSA intellectual capital including patents, licenses, industrial designs, proprietary data, know-how and relevant team members.

As previously announced, Guident secured a paid proof of concept agreement with a tier-1 OEM. This collaboration resulted in successful tests and detailed reports for Guident's regenerative shock absorber. Guident's technology enables regenerative shock absorbers with high energy densities that can recover a vehicle's vibration energy, otherwise lost as heat, due to road irregularities, vehicle accelerations, and braking.

Harald Braun, CEO & Chairman of Guident commented:

"In light of our recent successes in collaboration with various independent test authorities, we are thrilled to announce the integration of RSA technology into a new dedicated subsidiary named ReVive Energy Solutions, ltd. This strategic move allows us to sharpen our focus on a precision-targeted go-to-market strategy for this what we believe is a revolutionary product. Most commercially available electric vehicles have regenerative braking. We believe that in the near future, most commercial electric vehicles will also have regenerative shock absorbers. This could extend the range between charges and provide power to active suspension to improve ride characteristics and comfort. Our commitment to innovation and sustainability drives us forward, and we believe this marks a significant milestone in our mission to reshape the future of EV technology."

The Market

The Edison Electric Institute (EEI) Projects 26.4 million electric vehicles will be on U.S. roads in 2030.[1]

According to the International Energy Agency (IEA), worldwide, 350 million electric vehicles are projected to be on the road by 2030.[2]

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.

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.