TEK Tekcapital Plc

19 February 2024  

Tekcapital Plc

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

Portfolio Company Update: Guident, Ltd

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 provide an overview of Guident Ltd's ("Guident") significant achievements over the past year.  

Built the first U.S. commercial Remote Monitor and Control Centre (RMCC) for enhancing AV safety:

Strategic Partnerships Update

1.   Adastec Corp. ("Adastec"):

Autonomous Buses

In October 2023, Guident established a Strategic Partnership Agreement with Adastec, a renowned global supplier of autonomous driving systems. Based in Michigan, U.S.A., Adastec Corp. has a strong R&D presence in Istanbul, Turkey, with offices in Brabant, the Netherlands, and Stockholm, Sweden, and collaborates with bus OEMs worldwide. Adastec's flowride.ai system enables SAE Level-4 operation for buses manufactured by Karsan and Vicinity Motor Corp. Guident's teleoperation solution, integrated with flowride.ai, represents a breakthrough in autonomous transportation, offering full-scope autonomous vehicle monitoring & control coupled with fleet management. We believe that this technology integration elevates the safety of self-driving technology. Guident's commitment to deploying the safest and most efficient automated public transportation aligns with Adastec's mission. Beginning this year, Guident's RMCC solution will be integrated into Adastec's automated buses being deployed in the U.S., solidifying our shared vision for the future of mobility.

2.   AuVe Tech OÜ ("Auve Tech"): 

Autonomous Shuttles

Guident's recently announced strategic partnership with Auve Tech to integrate our RMCC teleoperation system with Auve Tech's MiCa autonomous shuttles has progressed to the implementation phase.  Estonia based Auve Tech produces autonomous shuttle vehicles that are currently deployed in Europe and Asia. They are an integrated supplier of both the vehicles and the autonomous driving software.  Guident is pleased to be actively integrating its teleoperation system into the first Auve Tech MiCa shuttle to be shipped to the United States this month under Guident's recently received National Highway Traffic Safety Administration testing approval.

3. Satellite Communication to Enhance Teleoperations:

Partnership with Space Florida & Novelsat

Guident was awarded a significant grant from Space Florida in 2023 to implement satellite communications as an additional connectivity option for AV's. Space Florida is an independent entity formed by the State of Florida devoted to advancing aerospace technologies and businesses in Florida. This project has been underway since the middle of last year and is on track to demonstrate teleoperation over satellite communication links in the second quarter of 2024. This project is a joint effort with Novelsat of Israel, a global provider of innovative satellite communication services.

Satellite connectivity complements the currently used public and private 4G/5G cellular connections and will provide Guident's teleoperations with unsurpassed network availability. Guident believe this unique differentiation creates a competitive advantage for the company. Furthermore, Guident's satellite capability enables it to provide teleoperation and RMCC services to areas currently underserved by cellular networks, reinforcing Guident's commitment to providing comprehensive solutions across diverse environments.

Business Development and Sales update

Guident is making significant strides in expanding its sales pipeline, marked by a recent transition from a direct sales model to a value-added reseller approach. This strategic shift has accelerated sales traction through collaborations with our global partners.

Guident is pleased to report a notable uptick in Requests for Proposals (RFPs), demonstrating heightened interest in their teleoperation services. Guident's interactions with their initial customer, the Jacksonville Transportation Authority (JTA), remain ongoing, and the Company is actively engaged in multiple additional upcoming projects.

R&D Update - Teleoperation RMCC Roadmap for the Next 24 Months

The Guident R&D program for next two years will focus on integrating new vehicle and autonomous driving system partners, implementing the RMCC and teleoperation product vision, and enhancing multi-network automation for top-tier service availability. Integration with partners like Adastec and Auve Tech is underway, with plans for further collaborations. Additionally, Guident's technology roadmap emphasizes improving remote control operator effectiveness and implementing augmented reality features for enhanced situational awareness and passenger communication. Guident recently adopted a software architecture framework that helps to ensure scalable development, smooth feature releases, customer upgrades, and efficient software license management to support future growth.

The Regenerative Shock Absorber

Guident has established a new subsidiary, Revive Energy Solutions Ltd., wholly owned by Guident Ltd. This subsidiary will facilitate future investment and is in response to significant market traction for Guident's regenerative shock absorber technology, collaboration with a leading tyre manufacturer, and successful proof-of-concept testing results.  The company is actively engaged in rigorous testing both in controlled laboratory environments and on vehicles in real traffic scenarios. Progress is underway with multiple car manufacturers, to assess the manufacturability, cost, and the best approach to rapidly bring the technology to the world market.

This groundbreaking technology aims to produce electromagnetic regenerative shock absorbers with exceptional energy densities, capable of capturing and utilizing the vehicle's vertical movements that are part of everyday driving on public roads, which are currently dissipated as wasted heat energy. An additional patent application has been filed by Guident to enhance damping characteristics while generating energy based on road surface conditions.

National U.S. Autonomous Vehicle Day

https://autonomousvehicleday.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.

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, its UK subsidiary.

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'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.