RCS - Tekcapital plc - Guident Receives Space Florida Grant

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11/07/2024 07:00

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RNS Number : 9490V  Tekcapital plc  11 July 2024

11 July 2024

 

                                            Tekcapital Plc

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

Guident Corp. ("Guident") Receives Space Florida Grant to Add Low-Latency
Satellite Connectivity to its Autonomous Vehicle Remote Monitoring Service

 

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 a groundbreaking new
project supported by the Space Florida-Israel Innovation Partnership program.
This initiative leverages advanced low-latency satellite services and
artificial intelligence to enhance the safety, reliability, and efficiency of
self-driving vehicles.

 

A satellite in low Earth orbit (Image credit: NASA)

 

This Space Florida-Israel Innovation grant will support the development and
implementation of a leading-edge system architecture, leveraging
non-geostationary satellite technology. This will dramatically improve
autonomous vehicle communication by establishing a reliable and redundant
connection with remote monitor and control centres, ensuring seamless vehicle
operation in areas with limited terrestrial network coverage.

 

Scheduled to commence in early July 2024, this new project unites Space
Florida, Guident's  expertise and resources, and its Israeli partner,
NOVELSAT. Each organization brings unique strengths that will synergistically
contribute to pioneering safety solutions for ground-based autonomous vehicles
through satellite communications.

 

Dr. Dennis Morgen, Guident's Vice President for Product and Project Management
commented:

 

"At the heart of this project is our commitment to advancing teleoperation
safety through rigorous research and testing. We aim to ensure the highest
safety and performance standards for autonomous vehicles equipped with this
pioneering communication system.

 

This grant will propel us forward in developing an effective remote monitor
and control solution with Space Florida's invaluable support and strategic
expertise.

 

This project marks a significant milestone in Guident's dedication to
innovation in autonomous vehicles and monitoring solutions. With a talented
team of researchers, engineers, and industry experts, we believe Guident is
poised to impact the future of AV transportation."

 

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 satellite and terrestrial content connectivity products
include integrated video solutions, highly efficient broadband connectivity
solutions, and best-in-industry content security solutions. Transforming data
and video delivery 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 https://novelsat.com/ (https://novelsat.com/) .

 

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
https://guident.com/ (https://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 https://www.tekcapital.com/
(https://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, its UK subsidiary.

 

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's 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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