RCS - Tekcapital plc - Guident Portfolio Company Update

TekcapitalAnnouncement

17/02/2023 07:00

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RNS Number : 2211Q  Tekcapital plc  17 February 2023

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 partnership between Guident and Auve Tech represents a step forward in
creating safer, smart, and sustainable transportation solutions for
communities. We are excited to see the launch of the new MiCa autonomous
vehicle with Guident's RMCC software, which promises to deliver an added layer
of safety and reliability in autonomous driving," said Harald Braun, Chairman
& CEO of Guident Ltd.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   MiCa: a new-generation self-driving shuttle from Auve Tech.

 

 

 

The Market

According to Triton Market Research
(https://www.tritonmarketresearch.com/reports/autonomous-last-mile-delivery-market)
(")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 (http://www.guident.co)

 

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/ (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 (http://www.tekcapital.com) .

 

LEI: 213800GOJTOV19FIFZ85

 

Tekcapital owns 100% of the share capital of Guident Ltd.

For further information, please contact:

 Tekcapital Plc                                                                 Via Flagstaff
 Clifford M. Gross, Ph.D.

 SP Angel Corporate Finance LLP                                                 +44 (0) 20 3470 0470

 Nominated Adviser and Broker
 Richard Morrison/Charlie Bouverat (Corporate Finance)

 Abigail Wayne / Rob Rees (Corporate Broking)

 Flagstaff Strategic and Investor Communications                                +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.

 

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