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14 Sep 2020 07:00
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
14 September 2020
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update: Guident Ltd.
Guident Acquires New Regenerative Shock Absorber Technology
IP extends the driving range of electric vehicles
Tekcapital Plc (AIM: TEK), the UK intellectual property investment group focused on creating marketplace value from investing in university technology, is pleased to announce that portfolio company Guident has acquired a new regenerative shock absorber technology which is designed to extend the driving range of electric vehicles.
Guident has acquired the exclusive license to U.S. patent # 8,941,251 from the Research Foundation of the State of New York. The patent enables the manufacture of electromagnetic regenerative shock absorbers with high energy densities that are able to recover a vehicle's vibration energy which is otherwise lost due to road irregularities, vehicle accelerations and braking. In addition, this unique design utilizing rotary mechanical motion rectifiers can be tuned to achieve better damping characteristics than existing shock absorbers.
This technology received the R&D 100 Award by R&D Magazine, for one of the 100 most significant technology innovations of the year from around the world.
Professor Lei Zuo, the lead inventor of the patent, and the director of the National Science Foundation Center for Energy Harvesting of Materials and Systems. Said, "I'm very glad Guident is commercializing this important and highly efficient new technology, which will enable vehicles to be more sustainable by increasing their driving range and improving their ride comfort."
"Electric vehicle manufacturers are seeking to cost-effectively increase the driving range of their vehicles. Recapturing a vehicle's kinetic energy through regenerative shock absorbers could contribute to this objective and thus move the world toward increasingly energy efficient mobility." said Ron Tarro, director, and vice president, investment sourcing and screening, New World Angels.
"We are very excited to announce the acquisition of the exclusive rights to this remarkable technology and we're immediately moving forward to fabricate regenerative shock absorbers for testing by leading automotive companies," says Harald Braun, Chairman & CEO of Guident.
The Market
According to Allied Market Research, "the autonomous vehicle market is expected to reach $556 billion by 2026 with a CAGR of 39%.1 Contactless or "touch-free" delivery is in high demand due to the COVID 19 pandemic.2,3 Guident believes this increased demand will accelerate the roll-out of land-based delivery drones for food and medicines to improve their availability and reduce the costs of these deliveries.
About Guident, Ltd.
Guident commercializes new technology to enhance the safety, efficiency and utility of autonomous vehicles and ground-based drones using its proprietary IP & software apps for remote monitoring and control. To learn more please visit www.guident.co
Tekcapital owns 100% of the share capital of Guident Ltd.
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 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 (Corporate Broking) | ||
Flagstaff Strategic and Investor Communications |
| +44 (0) 20 7129 1474 |
Tim Thompson/Andrea Seymour/Fergus Mellon
|
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.
References
1 https://www.alliedmarketresearch.com/autonomous-vehicle-market
2 https://www.cnet.com/how-to/how-to-safely-order-food-delivery-takeout-and-groceries-during-coronavirus-quarantines/
3 https://techcrunch.com/2020/04/01/uber-eats-beefs-up-its-grocery-delivery-offer-as-covid-19-lockdowns-continue/
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