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Florida Legislature Approves Autonomous Vehicles

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RNS Number : 9521X
Tekcapital plc
03 May 2019
 

 

 

3 May 2019

Tekcapital Plc

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

Portfolio Company Update: Guident ltd.

 

Florida Legislature Approves the Operation of Autonomous Vehicles

and their Control with Software Apps

 

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 an update from its portfolio company Guident, Ltd.

 

On May 1st, 2019 the Florida Legislature unanimously passed a bill legalizing the use of self-driving cars statewide.1 The bill also stipulates that Florida residents will be allowed to interact with self-driving cars through digital smartphone apps. The bill legalizes autonomous vehicles as well as on-demand autonomous vehicle (AV) networks, which are services that use a software application or other digital means to connect passengers to fully autonomous vehicles.

Harald Braun, Guident's Chairman said, "Guident Ltd. welcomes this visionary decision. With this bill, Florida has made a tremendous step forward in enabling the market for Autonomous Vehicles and their control using mobile devices. This is consistent with the mission of Guident and its intellectual property." He detailed further: "One of the main criteria for market success of AV's as defined by the "Autonomous Vehicle Readiness Index,"2 is governments' willingness to regulate and support AV development. Today's bill clearly shows a commitment by the state of Florida to the AV vehicle and mobility market, and the opportunities it provides for on-demand services."

The autonomous vehicle market is expected to reach US $65.3 billion by 2027.3

 

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 that enable users of AV's to dispatch their vehicles to join ridesharing fleets, find available parking spots and charging stations, report accidents and other useful applications. 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 


[email protected] 


References

1 https://www.miaminewtimes.com/news/florida-legislature-passes-bill-legalizing-self-driving-uber-cars-11161818

2 2019 Autonomous Vehicles Readiness Index, KPMG International: https://home.kpmg/xx/en/home/insights/2019/02/2019-autonomous-vehicles-readiness-index.html

3 https://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 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 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 Guident may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Guident neither 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 RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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