TekCapital Regulatory News (TEK)

29 April 2019

Tekcapital Plc

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

Portfolio Company Update: Guident Files Additional Patent

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 filed a new U.S. patent application (No. 16/386,530).

Harald Braun, Chairman at Guident said,

"We are pleased to announce that Guident has filed a patent application entitled: Methods and Systems for Emergency Handoff of an Autonomous Vehicle. This patent application deals with the operation and control of an autonomous vehicle in the event of an accident. In a recent survey by PWC1, 43% of respondents indicated that a key perceived disadvantage of AV's relates to safety concerns. We believe our new patent will help address some of these issues by defining forward-thinking, post-accident protocols." 

Dr Clifford Gross, Chairman at Tekcapital commented,

"We are delighted to see that Guident is expanding its intellectual property to cover additional software features to improve safety while using autonomous vehicles."  

The Market

According to the World Health Organization, there are approximately 1.25 million fatalities from traffic accidents each year.2 The National Highway Traffic Safety Administration has reported that 94% of serious crashes are caused by human error.3 Autonomous vehicles will have the potential to significantly reduce injuries and deaths from traffic accidents resulting from human error. The autonomous vehicle market is expected to reach US $65.3 billion by 2027.4  

About Guident, Ltd.

Guident was established to commercialise new technology to enhance the utility, safety and enjoyment of autonomous vehicles and drones. Using its proprietary IP, Guident develops software Apps that allow users of AV's to dispatch their vehicles to join ridesharing fleets, find available parking spots and charging stations and report and respond to accidents as well as park themselves. To learn more please visit www.guident.co.

For further information, please contact:

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

References

1https://www.statista.com/statistics/720689/us-respondents-thoughts-on-the-disadvantages-of-autonomous-vehicles/

2https://www.who.int/violence_injury_prevention/road_safety_status/2015/en/

3https://www.nhtsa.gov/press-releases/usdot-releases-2016-fatal-traffic-crash-data

4https://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

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 Tekcapital or Guident 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 Tekcapital's or Guident'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 Tekcapital or Guident may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Tekcapital nor Guident intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments, which differ from those anticipated.