RCS - Tekcapital plc - Space Florida Awards Grant to Guident and NOVELSAT

TekcapitalAnnouncement

16/06/2023 07:00

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RNS Number : 9199C  Tekcapital plc  16 June 2023

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16 June 2023

 

Tekcapital Plc

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

Portfolio Company Update

Space Florida Awards Grant to Guident and NOVELSAT

for Satellite-based, Remote Monitoring and Control Solution for Autonomous
Vehicles

 

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 been awarded funding from Space Florida for a
groundbreaking project under the Florida-Israel Innovation Partnership
program, together with its valued Israeli partner, NOVELSAT.

 

The grant being awarded is for the purpose of developing a safer Remote
Monitoring and Control Center (RMCC) for the monitoring, management, and
backup control of terrestrial autonomous vehicles, with the assistance of
satellite communications. This innovative approach is aimed at providing
redundant, continuous monitoring of autonomous vehicles. Additionally, space
communications provide a mobile network connectivity alternative in areas with
low signal or no terrestrial mobile wireless network coverage.

"Through this extraordinary collaborative partnership, Space Florida is at the
forefront of welding cutting-edge innovation with the boundless knowledge
derived from scientific exploration. It thereby forges a path that shapes the
very essence of the future of autonomous mobility," stated Tony Gannon, Vice
President of Research & Innovation for Space Florida.

 

Scheduled to commence in early July 2023, the joint project brings together
the collective expertise, resources, and vision of Space Florida, Guident
Corp, and NOVELSAT. Each organization's unique strengths will synergistically
contribute to developing pioneering safety solutions for ground-based
autonomous vehicles using satellite communications.

 

"Guident is privileged to have the invaluable support and guidance of Space
Florida with their unrivaled experience and strategic location for this new
initiative," stated Dr. Gabriel Castaneda, Guident's Vice President for AI and
Research. "This funding will help propel us forward as we embark on the
development and scale of an effective Remote Monitoring and Control Solution
with enhanced vehicle safety, together with our Israeli Partner NOVELSAT."

 

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 Space Florida

Space Florida is an aerospace and spaceport development authority in Florida,
United States. It aims to promote and support the growth of the aerospace
industry in the state. Space Florida offers various advantages to leading
aerospace companies. Space Florida has extensive experience and expertise in
the aerospace industry, providing valuable knowledge and resources to
companies.

The organization offers financial tools such as grants, loans, and tax
incentives to help aerospace companies with their new initiatives, encouraging
economic growth and development.

Florida offers a strategic and advantageous location for aerospace companies.
Its proximity to the equator allows for more efficient launches, and it has a
well-established aerospace infrastructure and support network. Several
world-class companies have built long-term relationships with Space Florida.
including Northrop Grumman, Blue Origin, and EVE Air Mobility. These
partnerships demonstrate the attractiveness of Space Florida as a hub for
aerospace activities and the trust that leading companies place in its
capabilities. To learn more, please visit www.spaceflorida.gov
(http://www.spaceflorida.gov) .

 

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, 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 www.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
www.guident.com (http://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 (http://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.

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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