Tekcapital plc Acquisition of a Patented AI Valet System (9032U)
October 30 2017 - 3:00AM
UK Regulatory
TIDMTEK
RNS Number : 9032U
Tekcapital plc
30 October 2017
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.
30 October 2017
Tekcapital plc
("Tekcapital" or the "Company")
Acquisition of a New, Patented Artificial Intelligence
Valet System for Autonomous Vehicles and Drones
Tekcapital plc (AIM: TEK), a UK intellectual property (IP)
investment group focused on creating marketplace value from
university technology, is pleased to announce that its wholly-owned
portfolio company, Guident Ltd, has exclusively licensed U.S.
Patent # 9,429,943 from Florida Agricultural and Mechanical
University. This patent has the potential to enable the development
of software apps for controlling autonomous vehicles such as cars,
trucks and drones using artificial intelligence.
As an example, with this new technology, the directors of
Tekcapital believe that it is possible to develop apps that allow
users of autonomous vehicles to dispatch their vehicles to identify
available parking spots and park themselves and later retrieve the
users of the vehicle when they are ready to go on to their next
destination.
Guident Ltd was established by Tekcapital to exclusively license
and commercialise new technology to enhance the utility, safety and
enjoyment of autonomous vehicles and drones.
According to Research and Markets(1) , the global Autonomous
Vehicles market is expected to grow at a CAGR of 39.6% during the
forecast period 2017-2027 reaching $126.8 bilion by 2027.
In a recent interview in Fast Company(2) , Jim Hackett, Ford
Motor Company's chief executive officer stated:
"You waste more time trying to find a parking place than you do
being stuck in traffic," said Hackett. "That's because you're
trying to match the open parking place with where the car needs to
go. We have a dream where they can actually tell each other that.
The car and the parking spot are talking to each other. They find
each other."
Commenting on the license acquisition, Dr Clifford M. Gross,
Executive Chairman of Tekcapital, said; "We are excited that
Guident Ltd has acquired the exclusive rights to this novel IP
aimed at improving the utility of autonomous vehicles. Their goal
is to commercialize the technology, develop a family of apps and
provide them to leading autonomous vehicle and drone manufacturers
and their customers."
For further information, please contact:
Tekcapital Plc
Clifford M. Gross, Ph.D. Via Walbrook PR
Allenby Capital Limited (Nominated
Adviser & Joint Broker) +44 (0) 20 3328 5656
Jeremy Porter / Alex Brearley
Dowgate Capital Stockbrokers
(Joint Broker) +44 (0) 1293 517744
David Poutney / James Serjeant
Walbrook PR Ltd +44 (0) 20 7933 8780
Paul Cornelius / Helen Cresswell tekcapital@walbrookpr.com
/ Sam Allen
Tekcapital plc - The World's Largest University Network for Open
Innovation
Tekcapital's objective is to create value from investing in new,
university-developed intellectual properties. Additionally, using
its proprietary discovery search engine, linked to 4,500+
universities in 160 countries, coupled with expert scientific
review, Tekcapital provides a range of IP investment services to
make it easy for organisations to find, evaluate, acquire and
license university-developed technology. Tekcapital plc 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
1-
https://www.prnewswire.com/news-releases/1268-billion-autonomous-vehicle-market-global-drivers-restraints-opportunities-trends-and-forecasts-2017-2023-300486159.html
2-
https://www.fastcompany.com/40483279/ford-ceo-jim-hackett-dumb-cars-are-dying-but-car-ownership-is-safe-for-now
This information is provided by RNS
The company news service from the London Stock Exchange
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