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VR Education Hldgs - ENGAGE and Showcase Experience Update

RNS Number : 9392Z
VR Education Holdings PLC
24 September 2020
 


24 September 2020

 

VR Education Holdings plc

('VR Education' or the 'Group')

 

ENGAGE and Showcase Experience Update

 

VR Education (AIM: VRE; Euronext Growth: 6VR), a leading virtual reality ('VR') technology company focused on the education and enterprise training space, is pleased to provide the following update on both its Showcase Experiences and ENGAGE platform which hosts remote virtual events, virtual training and remote distance learning.

 

Shuttle Commander Launched on Facebook's Oculus Quest

 

The Group is pleased to announce the launch of its already successful Showcase Experience, Shuttle Commander, on both the original Oculus Quest and the Oculus Quest 2. Shuttle Commander will be available to download from the Oculus store from today for €9.99 in Europe and $9.99 in the USA.

 

Shuttle Commander on Quest is an accurate, physics-based flight simulator which allows the user to take to the controls of the virtual Discovery space shuttle and land it at various real-world landing sites such as Kennedy Space Centre, White Sands Air Force Base and Edwards Air Force Base. Players can also experience the launch of the Hubble Space Telescope from the cockpit of Discovery in a real time launch experience using original NASA cockpit audio and mission data. Finally, users can view some of the amazing imagery from the Hubble Space Telescope which has been collecting data over the past 30 years from 568 kilometres above earth.

 

With Oculus' newest smaller and cheaper Oculus Quest headsets expected to become one of the most popular items this Christmas and given Oculus' already large and growing user base, the Group expects Shuttle Commander to be equally as popular as VR Education's awarding winning Apollo 11 VR experience which has generated revenue of close to €2 million to date.

 

More information can be found in the trailer at the following link: https://youtu.be/59ocbsYwPcM

 

 

Yahoo! hosts virtual event via the ENGAGE platform

 

Yahoo!, one of the world's first web search engines and Verizon Media-owned web services provider, held a virtual event earlier this month inside the Group's ENGAGE virtual reality platform. The event celebrated Yahoo!'s 25th anniversary and is the first event to have originated via the Group's business partnership with HTC, as announced in March 2020.

 

The ENGAGE platform provides a real live event experience for attendees where users can attend presentations, walk around exhibit areas to talk to exhibitors and conduct hallway conversations just like they would at a physical event. Attendees of the Yahoo! event logged in using HTC Vive Focus headsets and experienced a pre-animated performance, connecting key staff from around the world who could then communicate with each other as if in the same room.

 

David Whelan, CEO of VR Education, said:

                                                                     

"We are delighted to be making such progress with both our Showcase Experiences and in the increasing adoption of our ENGAGE platform for virtual events. Shuttle Commander will provide Quest users with a unique physics-based flight simulation where none currently exist on the store and we feel this will really hit home with VR enthusiasts and the general public alike.

 

"Having a global brand name like Yahoo! utilise ENGAGE for a key corporate event highlights the uniquely attractive experience we are able to provide to companies and workforces across the globe, at a time when physical events are still not permitted. Recent changes in working practices and the continued focus on environmental factors means that, even in a post COVID-19 world, fully digital events will become ever more prevalent. The increased demand we are seeing to host events inside ENGAGE from a range of high profile organisations puts us in the driving seat to maximise this opportunity, and we are providing services to many events companies and corporations directly. We look forward to providing a further update on our continued progress in this space in due course."

 

 

 

 

This announcement contains inside information for the purposes of Article 7

of EU Regulation 596/2014.

 

- Ends -

 

For further information, please contact:

 

VR Education Holdings plc

David Whelan, CEO

Sandra Whelan, COO

 

Tel: +353 87 665 6708

[email protected]

 

Cairn Financial Advisers LLP (Nominated Adviser)

James Caithie / Liam Murray / Ludovico Lazzaretti

 

 

Tel: +44 (0) 20 7213 0880

 

Shard Capital Partners LLP (Joint Broker)

Damon Heath / Erik Woolgar

 

Tel: +44 (0) 20 7186 9952

 

Davy (Joint Broker & Euronext Growth Advisor)

Fergal Meegan / Ronan Veale / Barry Murphy

 

 

Tel: +353 1 679 6363

 

 

Buchanan (Financial PR)

Henry Harrison-Topham / Chris Lane / Tilly Abraham

 

 

Tel: +44 (0)20 7466 5000

[email protected]

 



 

Notes to Editors

VR Education, together with its wholly owned subsidiary, is an early stage VR software and technology group based in Waterford, Ireland, dedicated to transforming the delivery methods of education and corporate training by utilising VR technologies to deliver fully immersive virtual learning experiences.  The Group's core focus is the development and commercialisation of its online virtual social learning and presentation platform called ENGAGE, which provides a platform for creating, sharing and delivering proprietary and third-party VR content for educational and corporate training purposes.

 

In addition to the ongoing development of the ENGAGE platform, the Group has also built two downloadable showcase VR experiences, being the award-winning Apollo 11 VR experience and the Titanic VR experience.

 

On 12 March 2018, VR Education listed on the AIM market of the London Stock Exchange and on the Enterprise Securities Market, a market regulated by Euronext Dublin.  For further information, please visit www.vreducationholdings.com.

 

Forward-Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

 

The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

 

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Price: 20.5

Market: AIM
Market Cap: £49.56 m
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