Source - LSE Non-Regulatory
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/.

 

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/.

 

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/.

 

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

Nominated Adviser and Broker


+44 (0) 20 3470 0470 

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.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NRARMMMTMTMBTLI
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Tekcapital PLC (TEK)

-0.13p (-1.47%)
delayed 16:30PM