Last checked at 25 Jun 2019 07:00
25 June 2019
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update:
Guident Ltd Acquires Additional IP for
Autonomous Vehicle Communication and Safety Network
Tekcapital Plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, is pleased to announce that its portfolio company Guident Ltd has exclusively licensed patent application PCT US19 14 547 entitled: "Visual sensor fusion and data sharing across connected vehicles for active safety" from Michigan State University.
This important patent application describes methods for enhancing the safety of AV's by enabling them to share information with other AV's and drones regarding objects detected by their sensors. This proprietary method may improve safety by providing a more robust, real-time system for detecting pedestrians, traffic conditions and potential hazards.
Harald Braun, Chairman at Guident said,
"We are pleased to announce that Guident has acquired the exclusive license to PCT US19 14 547. This patent application leverages the forthcoming 5G network for acquiring and sharing vehicle-to-vehicle and vehicle-to-object information to improve safety and reduce the likelihood of AV and drone accidents."
The Market
In a recent survey by PWC1, 43% of respondents indicated that a key perceived disadvantage of AV relates to safety concerns. Guident is seeking to help address these concerns with IP and software to enhance the safety and practical utilization of AV's and drones.
The autonomous vehicle market is expected to reach US $65 billion by 20272 and the drone logistics and transportation market is projected to reach US $29 billion by 2027, at a CAGR of 21% from 2022 to 2027.3
In the U.S. alone, approximately 50 m packages are delivered each day. This number is expected to rise to 100 m by 20264. Over the next few years, many of these deliveries are likely to be performed by autonomous vehicles and drones.
Dr Clifford Gross, Chairman at Tekcapital commented: "We are delighted to see that Guident has exclusively acquired additional intellectual property rights to further enhance the adoption and utilization of AV's and drones. To enhance the safety and practicality of AV's, vehicle-to-vehicle and vehicle-to-object information sharing systems are needed. The forthcoming 5G networks will help make this technology a useful improvement for safe AV and drone operation by empowering AV's to "see" not only what its sensors detect but what the sensors of all nearby vehicles are able to detect."
About Guident, Ltd.
Guident commercialises new technology to enhance the utility, safety and enjoyment of autonomous vehicles and drones. Using its proprietary IP, Guident is developing Apps and IP that allow users of AV's to dispatch or control their vehicles remotely. To learn more please visit www.guident.co.
About Tekcapital plc
Tekcapital creates value from investing in new, university-developed intellectual properties and provides a range of IP investment services to make it easy for organisations to commercialise university-developed technology. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc | Via Yellow Jersey PR |
Clifford M. Gross, Ph.D. | |
finnCap Ltd (Nominated Adviser and Joint Broker) | +44 (0) 20 7220 0500 |
Geoff Nash/ Max Bullen-Smith (Corporate Finance) | |
Camille Gochez (ECM) | |
Novum Securities Limited (Joint Broker) | +44 (0) 20 7399 9427 |
Colin Rowbury (Corporate Broking) | |
Yellow Jersey Limited | +44 (0) 20 7933 8780 |
Tim Thompson / Annabel Atkins | tekcapital@yellowjerseypr.com |
References
1https://www.statista.com/statistics/720689/us-respondents-thoughts-on-the-disadvantages-of-autonomous-vehicles/
2https://www.marketwatch.com/press-release/autonomous-vehicles-market-size-industry-growth-share-opportunities-emerging-technologies-competitive-landscape-future-plans-and-global-trends-by-forecast-2023-2018-07-31
3https://www.prnewswire.com/news-releases/29-06-billion-drone-logistics-and-transportation-market---global-forecast-to-2027--300667775.html
4https://www.fool.com/investing/2019/06/15/4-hard-to-believe-driverless-car-facts.aspx
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 and 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 materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Guident and 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.