Proactiveinvestors United Kingdom VR Education Holdings Plc https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom VR Education Holdings Plc RSS feed en Sun, 21 Jul 2019 00:02:12 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Change of Adviser ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190625150004_14124033/ Tue, 25 Jun 2019 15:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190625150004_14124033/ <![CDATA[News - Top US space museum to use VR Education’s Apollo 11 experience in major new attraction ]]> https://www.proactiveinvestors.co.uk/companies/news/220828/top-us-space-museum-to-use-vr-educations-apollo-11-experience-in-major-new-attraction-220828.html One of America’s top aerospace museums is to use VR Education Holdings Plc’s (LON:VRE) Apollo 11 virtual reality experience in a “major new attraction” to celebrate the 50th anniversary of the moon landing, giving a lift to the firm's shares on Thursday.

VR Education has assigned a commercial agreement with the US Space and Rocket Center in Huntsville, Alabama – an affiliate of the Smithsonian.

READ: VR Education's Apollo 11 experience selected by Facebook to be launch title on Oculus Quest

The new attraction will open on 10 June and will give visitors the chance to experience the moon landing within virtual reality using a shortened version of VR Education’s showcase Apollo 11 experience.

Tickets for the attraction will cost between US$10-15, with VR Education to receive a cut of the sales.

“We are delighted to be working with the US Space and Rocket Center where this year they are expecting over one million visitors to walk through their doors,” said chief executive David Whelan.

“The Center has given us a prime location within the museum where visitors can participate in the Apollo 11 VR experience.”

Facebook to use Apollo VR in Oculus demos

In the same statement, VR Education confirmed it has been chosen by Facebook Inc (NASDAQ:FB) to be a part of the Oculus Anywhere programme.

The programme is used by Oculus reps at various events and conferences to show off what the systems and headsets can do.

Each of the demo events are approved by Oculus marketing, and the content is curated from their list of pre-approved apps.

“It is great to be working with Facebook to promote educational content via our Apollo 11 VR experience, which was updated to an HD version last year, to show users that VR is used for more than just entertainment.”

In afternoon trading, shares in VR Education were 2.7% higher at 9.50p.

 -- Adds share price --

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Thu, 23 May 2019 07:41:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220828/top-us-space-museum-to-use-vr-educations-apollo-11-experience-in-major-new-attraction-220828.html
<![CDATA[RNS press release - Commercial Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190523070006_14084371/ Thu, 23 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190523070006_14084371/ <![CDATA[Media files - VR Education's Apollo 11 VR picked to be a launch title on Oculus Quest ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13422/vr-education-s-apollo-11-vr-picked-to-be-a-launch-title-on-oculus-quest-13422.html Tue, 21 May 2019 09:19:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13422/vr-education-s-apollo-11-vr-picked-to-be-a-launch-title-on-oculus-quest-13422.html <![CDATA[News - VR Education’s Apollo 11 experience selected by Facebook to be launch title on Oculus Quest ]]> https://www.proactiveinvestors.co.uk/companies/news/220648/vr-educations-apollo-11-experience-selected-by-facebook-to-be-launch-title-on-oculus-quest-220648.html VR Education Holdings Plc’s (LON:VRE) Apollo 11 VR showcase experience has been selected by Facebook to be a launch title on the Oculus Quest headset, which launches around the world today.

The Oculus Quest is Facebook’s new all-in-one virtual reality headset that the tech giant hopes will help to take VR mainstream.

Apollo 11 is retailing for €9.99 and is available on the Oculus Quest store from launch.

READ: VR Education launches HD version of Apollo 11 experience

“We expect the Oculus Quest to be extremely popular globally and for this platform to quickly become the most used VR device, enticing many new users to jump onboard,” said chief executive Dave Whelan.

“As Apollo 11 VR was one of the most popular VR applications when it was released over three years ago it makes complete sense to release an updated version of the application on the Oculus Quest, providing the Apollo 11 showcase experience to people new to VR.”

He added: “2019 is also the 50th Anniversary of the moon landing and we expect to see strong demand for this title through the year.”

VR Education launched the original Apollo 11 VR back in 2016, but it released an update, high-definition version at the end of last year. In total, it has been downloaded more than 150,000 times.

The experience allows users to witness the moon landing first-hand in virtual reality, from the viewpoint of the US astronaut Neil Armstrong.

In afternoon trading, shares in VR Education had rocketed 14% higher to 10p.

 -- Adds share price --

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Tue, 21 May 2019 07:21:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220648/vr-educations-apollo-11-experience-selected-by-facebook-to-be-launch-title-on-oculus-quest-220648.html
<![CDATA[RNS press release - Apollo11 VR selected as Oculus Quest launch title ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190521070004_14080897/ Tue, 21 May 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190521070004_14080897/ <![CDATA[News - VR Education inks deal to bring ENGAGE platform to South Korea ]]> https://www.proactiveinvestors.co.uk/companies/news/220184/vr-education-inks-deal-to-bring-engage-platform-to-south-korea-220184.html VR Education Holdings Plc (LON:VRE) is to bring its virtual reality (VR) learning platform ENGAGE to South Korea after a deal with digital content firm D'Carrick Co Ltd.

D’Carrick, alongside its partner firm FIX GAMES, develops programmes for the South Korean education sector, which has been voted as the world’s best schooling system for the last four years in a row.

READ: VR Education boss hails dawn of “affordable high-quality VR” with upcoming launch of Oculus Quest

Under the commercial agreement, D’Carrick will roll out VRE’s ENGAGE platform to a set number of South Korean students and pay the firm €70,000 in fees per annum over three years.

Additional fees will be paid should the number of students exceed the initial total, with VRE also receiving 30% of revenues from any reselling of the ENGAGE platform.

"In today's digital era, modern students are moving rapidly towards online learning and we have been delighted by the interest in our ENGAGE platform”, said David Whelan, VRE’s chief executive.

He added that the deal was “a welcome first step” into the Asian market.

ENGAGE is a VR platform that allows education and corporate users to create virtual ‘rooms’ that can be used for lessons, presentations and meetings without participants needing to be in the same location.

The platform also allows the use of virtual objects and environments to help visualise content.

In mid-morning trading on Tuesday, VRE's shares were 2.8% lower at 8.8p.

--Adds share price--

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Tue, 14 May 2019 07:44:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220184/vr-education-inks-deal-to-bring-engage-platform-to-south-korea-220184.html
<![CDATA[RNS press release - ENGAGE commercial agreement signed ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190514070006_14072405/ Tue, 14 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190514070006_14072405/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190410103410_14036000/ Wed, 10 Apr 2019 10:34:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190410103410_14036000/ <![CDATA[RNS press release - Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190315070004_14003186/ Fri, 15 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190315070004_14003186/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190311113838_13997534/ Mon, 11 Mar 2019 11:38:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190311113838_13997534/ <![CDATA[News - VR Education boss hails dawn of “affordable high-quality VR” with upcoming launch of Oculus Quest ]]> https://www.proactiveinvestors.co.uk/companies/news/215930/vr-education-boss-hails-dawn-of-affordable-high-quality-vr-with-upcoming-launch-of-oculus-quest-215930.html The boss of virtual reality (VR) software developer VR Education Holdings PLC (LON:VRE), David Whelan, has hailed the upcoming launch of the new Oculus Quest device as the beginning of “affordable high-quality VR”.

Speaking to Proactive, Whelan said that the Quest, which is developed by Facebook-owned VR firm Oculus and scheduled for release in the second quarter of this year, will help take some pressure off the customer’s wallet if they want to get their hands on a high-quality VR experience.

READ: VR Education to launch two new “showcase” experiences in 2019

“Up until now, the limiting factor for good virtual reality is the cost of hardware. For a good experience, you would have needed a computer and a VR device, that’s around a US$1,500 expense. With the Oculus Quest that becomes a US$400 device.”

Unlike the Oculus Go, the last iteration of the headset that was released last year, the Quest functions more as an all-in-one video game system as opposed to the Go which was less high-powered and was aimed more at watching content like Netflix and YouTube.

The prospect of a high-powered, affordable, and portable VR device is good news for VRE, which last December launched the first commercial version of its ENGAGE platform, a virtual environment that allows users to participate in meetings and classes in a shared space without needing to be in the same room.

Whelan said the platform had been released with “significantly increased functionality” as users now had the ability to record and publish their own content as well as being able to purchase Pro ENGAGE accounts that give access to enhanced editing and publishing tools and the option to create virtual avatars from photos.

If users and creators can get their hands on convenient VR that they can take with them anywhere for an affordable price, the concept of VR meetings and classes seems to be inching closer to reality.

In late-afternoon trading Wednesday, VRE shares were steady at 9.5p.

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Wed, 06 Mar 2019 14:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215930/vr-education-boss-hails-dawn-of-affordable-high-quality-vr-with-upcoming-launch-of-oculus-quest-215930.html
<![CDATA[Media files - VR Education fully focused on promotion of its ENGAGE platform in 2019 ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12483/vr-education-fully-focused-on-promotion-of-its-engage-platform-in-2019-12483.html Wed, 06 Mar 2019 12:57:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12483/vr-education-fully-focused-on-promotion-of-its-engage-platform-in-2019-12483.html <![CDATA[News - VR Education to launch two new “showcase” experiences in 2019 ]]> https://www.proactiveinvestors.co.uk/companies/news/215889/vr-education-to-launch-two-new-showcase-experiences-in-2019-215889.html VR Education Holdings Plc (LON:VRE) said it is targeting the release of two new “showcase” experiences in 2019 in what it said would be “a busy year” for the group.

In an outlook statement accompanying its maiden full-year results since listing on AIM in March 2018, the virtual reality (VR) software developer said the first showcase, Raid on the Rhur, would be released later this month while a second experience, which was described as “a larger space-related project”, was scheduled for the second half of the year.

READ: VR Education to launch Raid on the Ruhr experience at end of March

Raid on the Rhur, which allows users to experience the flight of a Lancaster bomber from the UK to the Ruhr Valley in 1943, was announced on Monday.

The company has already seen success with its first two showcase experiences covering the Apollo 11 moon landing and the sinking of the Titanic, which collectively have been downloaded around 180,000 times.

VR also said that in the new year it would continue to focus on the promotion of its ENGAGE platform, a virtual environment that allows users to participate in meetings and classes in a shared space without needing to be in the same room, which launched its first commercial version in December.

VR’s chief executive, David Whelan, said the platform had been released with “significantly increased functionality” as users now had the ability to record and publish their own content as well as being able to purchase Pro ENGAGE accounts that give access to enhanced editing and publishing tools and the option to create virtual avatars from photos.

The company was also targeting its software toward the upcoming release of “second generation hardware”, more specifically the Oculus Quest all-in-one VR headset made by Facebook.

In its results for the year ended 31 December 2018, VR reported an underlying (EBITDA) loss of €1.5mln, wider than the €500,000 loss in 2017 but in line with management expectations.

Revenues were up 15% in the year at €716,000.

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Wed, 06 Mar 2019 07:58:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215889/vr-education-to-launch-two-new-showcase-experiences-in-2019-215889.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190306070002_13991439/ Wed, 06 Mar 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190306070002_13991439/ <![CDATA[News - VR Education lays groundwork for virtual reality upsurge ]]> https://www.proactiveinvestors.co.uk/companies/news/215720/vr-education-lays-groundwork-for-virtual-reality-upsurge-215720.html  

What it does

VR Education is focused on the benefits virtual reality can bring to education, with immersion and the remote connection opportunities as key drivers.

The online student market especially will be perfectly suited to the immersion and remote aspects of VR, says CEO Dave Whelan.

Even before its integration into the Oculus Go headset, VR Education’s Apollo 11 experience had already been downloaded more than 120,000 times and generated over €1mln in revenue for the group.

Raid on the Ruhr, launched in March, allows users to experience the famous 1943 mission first-hand as they fly the Lancaster bomber from the UK to the Ruhr Valley.

 

What the boss says

“Building on our previous research with the BBC while creating the Berlin Blitz experience, we have created this new title from the ground up providing users with more control as they fly the Lancaster to its target and drop the famous bouncing bomb on the Möhne and Edersee Dams.”

Video

 

  Inflexion points

Launch of Raid on the Ruhr this month

VR headset technology continues to move forward

 

Blue Sky

“Estimates are saying that the market we are going into will be worth £1.7bn by 2021.”

At 9.5p, VR is valued at £17.6mln.

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Mon, 04 Mar 2019 12:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215720/vr-education-lays-groundwork-for-virtual-reality-upsurge-215720.html
<![CDATA[News - VR Education to launch Raid on the Ruhr experience at end of March ]]> https://www.proactiveinvestors.co.uk/companies/news/215677/vr-education-to-launch-raid-on-the-ruhr-experience-at-end-of-march-215677.html VR Education Holdings Plc (LON:VRE) is to release is to release its latest showcase virtual reality experience, called Raid on the Ruhr, later this month.

The education experience, which is based on the famous World War 2 ‘Dambusters’ mission, will be available on Oculus Rift, HTC Vive and Windows Mixed Reality Devices from 29 March.

READ: VR Education enjoys record December

Raid on the Ruhr allows users to experience the famous 1943 mission first-hand as they fly the Lancaster bomber from the UK to the Ruhr Valley.

“Following on from our highly popular and award-winning experiences Apollo 11 VR, Titanic VR and 1943: Berlin Blitz, we are delighted to announce the release date of our next title, Raid on the Ruhr,” said chief executive Dave Whelan.

“Building on our previous research with the BBC while creating the Berlin Blitz experience, we have created this new title from the ground up providing users with more control as they fly the Lancaster to its target and drop the famous bouncing bomb on the Möhne and Edersee Dams.”

He added: “This title adds to our back catalogue of immersive experiences and provides more assets and content for our ENGAGE platform where educators and corporate trainers can create their own learning content.”

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Mon, 04 Mar 2019 07:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215677/vr-education-to-launch-raid-on-the-ruhr-experience-at-end-of-march-215677.html
<![CDATA[RNS press release - Launch of Raid on the Ruhr "Dambusters" ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190304070004_13988168/ Mon, 04 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190304070004_13988168/ <![CDATA[RNS press release - Notice of Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190215070004_13970359/ Fri, 15 Feb 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190215070004_13970359/ <![CDATA[News - VR Education enjoys record December ]]> https://www.proactiveinvestors.co.uk/companies/news/213129/vr-education-enjoys-record-december-213129.html December was a record month for VR Education Holdings Plc (LON:VRE) in which the virtual reality firm launched its showcase Titanic experience as well as its ENGAGE learning and training platform.

Titanic made its long-awaited debut on PlayStation at the end of November and generated revenue of €100,000 last month. For 2018 as a whole, revenue is expected to be around €0.7mln.

This boost, coupled with revenues from other showcase experiences and ENGAGE, allowed VR Education to deliver a record monthly revenue in December.

READ: VR Education launches ENGAGE

“With the release of our ENGAGE platform in December 2018 we are very excited for 2019 and beyond,” said chief executive Dave Whelan.

The AIM company has progressed with the onboarding of Shenandoah University in Virginia over the past few weeks while additional content from Oxford University has also been released onto ENGAGE.

One of the platform’s key features is that teachers and educators can create their own VR lessons and presentations and the Massachusetts Institute of Technology, a top-ranked university in the US, used ENGAGE to host live events during its MIT Hackathon week.

VR Education is now actively marketing the platform and is at a trade show in London this week to do just that. The marketing team are also scheduled to fly into Dubai and the US to demonstrate ENGAGE to industry leaders.

New experiences coming this year

Although ENGAGE represents “the long-term vision” for VR Education, the company is not holding back with the VR games and experiences side of its business.

Two new showcase experiences are due to be launched this year: Raid on the Ruhr – based on the Dambusters mission – is expected in the first half, while Space Shuttle Commander should be available in the second half.

“Our showcase experiences to date have been an important recruitment tool and revenue generator and we will continue to build titles with small internal teams as we grow ENGAGE into a world leading platform,” added Whelan.

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Wed, 23 Jan 2019 07:37:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213129/vr-education-enjoys-record-december-213129.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190123070003_13943337/ Wed, 23 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20190123070003_13943337/ <![CDATA[News - VR Education shares jump as it launches ENGAGE online learning and training platform ]]> https://www.proactiveinvestors.co.uk/companies/news/211126/vr-education-shares-jump-as-it-launches-engage-online-learning-and-training-platform-211126.html VR Education Holdings PLC (LON:VRE) saw its shares jump on Thursday after the firm announced the commercial release of ENGAGE – its online virtual learning and corporate training platform.

It is a significant milestone for the company, which raised £6mln when it listed on the junior market earlier this year, a large slice of which was earmarked for the launch of ENGAGE.

READ: VRE launches HD version of Apollo 11 experience

The platform has been designed to overcome some of the limitations of online courses by allowing for virtual face-to-face education and training in a variety of environments regardless of the geographical location of the user.

VR Education has been working with the likes of the BBC and the University of Oxford to develop content for the app, which can be found in all major VR devices such as HTC Vive, Oculus Rift and Windows Mixed Reality devices.

The app will also be available on mobile VR devices such as the Oculus Go and Vive Focus early next year.

Nokia and Shenandoah already signed up

In addition to the pre-loaded immersive content – more of which will be added in the coming weeks and months – teachers and educators will also be able to create their own VR lessons and presentations.

Users will be able to download ENGAGE and access some content for free – a sample class, for example – although they’ll have to pay a monthly subscription fee if they want full, unlimited access.

Other revenue streams include revenue shares with creators selling their content through the platform as well as hosting private content which can only be accessed by people within a specific university or organisation.

Telecoms giant Nokia has trialled the pre-released version of the platform and has signed an initial commercial agreement, as has Shenandoah University in Virginia, US.

‘Launch is transformational’

“The full release of ENGAGE is a transformational moment in our corporate history and is the result of many years of hard work, cutting-edge research and innovation,” said VRE chief executive David Whelan.

“Although significant revenues are not expected to be generated from the ENGAGE platform until general adoption of VR and AR increases over the next two to three years, I am nonetheless delighted that both Nokia and Shenandoah University have signed commercial agreements.

“Being aligned to global leaders like these institutions demonstrates the potential and need for the platform.”

The plan now is to ramp up marketing of ENGAGE, with bosses attending various education trade shows both in the UK and abroad.

In afternoon trading, VR Education was the second-biggest riser on the London market, up nearly 22% at 12.50p..

 -- Updates share price --

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Thu, 13 Dec 2018 08:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211126/vr-education-shares-jump-as-it-launches-engage-online-learning-and-training-platform-211126.html
<![CDATA[RNS press release - Full commercial release of ENGAGE ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181213070001_13901794/ Thu, 13 Dec 2018 07:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181213070001_13901794/ <![CDATA[News - VR Education launches HD version of showcase Apollo 11 experience ]]> https://www.proactiveinvestors.co.uk/companies/news/209893/vr-education-launches-hd-version-of-showcase-apollo-11-experience-209893.html VR Education Holdings Plc (LON:VRE) has launched its Apollo 11 HD virtual reality experience on the HTC Vive, Oculus Rift and Windows Mixed Reality platforms.

The company, which develops virtual reality apps, games and experiences, expects the PlayStation VR version of Apollo 11 HD to be available in the second quarter of 2019.

The new high-definition version builds on VR Education’s original Apollo 11 VR showcase experience, which launched back in 2016 and has been downloaded more than 145,000 times since.

READ: VRE’s Titanic experience to launch on PlayStation at end of month

Apollo 11 HD allows users to witness the moon landing first-hand in virtual reality, from the viewpoint of the US astronaut Neil Armstrong.

The new HD version is a complete rebuild of all the assets from the original experience with new models, new textures and new animations.

“The original Apollo 11 was built when we had a small team of three working for the group,” said chief executive David Whelan.

“This new version enhances the user experience greatly as we have had the time and expertise to give the experience a level of polish not achievable before, due to new technology and overall talent available at VR Education today.”

He added: “The coming year represents the 50th anniversary of the moonwalk and we believe Apollo 11 HD will be in high demand throughout the next 12 months and beyond.”

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Mon, 26 Nov 2018 07:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209893/vr-education-launches-hd-version-of-showcase-apollo-11-experience-209893.html
<![CDATA[RNS press release - Launch of Apollo 11 HD ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181126070004_13879352/ Mon, 26 Nov 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181126070004_13879352/ <![CDATA[News - VR Education’s Titanic experience to launch on PlayStation at end of month ]]> https://www.proactiveinvestors.co.uk/companies/news/209256/vr-educations-titanic-experience-to-launch-on-playstation-at-end-of-month-209256.html VR Education Holdings Plc (LON:VRE) is to launch its Titanic VR virtual reality experience on the PlayStation platform on November 22.

The experience, which puts users on the famous liner on the night of its sinking, is already available on PC, Oculus Rift, HTC Vive and Windows Mixed Reality.

READ: Unexpected delay in release of VRE's Titanic experience

But VR Education has been waiting for Titanic VR to launch on PlayStation, which it expects will generate “a significant percentage” of the experience’s sales, as was the case with Apollo 11 VR.

“As previously announced, the PlayStation onboarding process for Titanic VR took longer than we originally expected, however, we are pleased to have received this confirmation from them,” said chief executive David Whelan.

“Importantly, the release will occur in the current financial year and will allow Titanic VR to have exposure on this major platform over the Christmas trading period. We will update the market in January 2019 as to the impact that this will have had on our FY-2018 revenues.”

The company’s main focus remains on its ENGAGE virtual learning and training platform, the commercial release of which is “progressing to plan” and is scheduled to occur next month.

Shares surged 13% to 13p at the opening bell on Thursday.

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Thu, 15 Nov 2018 08:04:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209256/vr-educations-titanic-experience-to-launch-on-playstation-at-end-of-month-209256.html
<![CDATA[RNS press release - Titanic VR PlayStation launch date confirmed ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181115070017_13867647/ Thu, 15 Nov 2018 07:00:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181115070017_13867647/ <![CDATA[RNS press release - Appointment of Joint Corporate Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181115070014_13867615/ Thu, 15 Nov 2018 07:00:14 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181115070014_13867615/ <![CDATA[News - VR Education confident Titanic VR game will be available on PlayStation later this year ]]> https://www.proactiveinvestors.co.uk/companies/news/207908/vr-education-confident-titanic-vr-game-will-be-available-on-playstation-later-this-year-207908.html An unexpected delay in getting its Titanic virtual reality (VR) game on to the PlayStation platform means VR Education Holdings Plc’s (LON:VRE) sales will miss forecasts this year.

Titanic VR has already launched on PC, Oculus Rift, HTC Vive and Windows Mixed Reality, and VR Education remains confident it will be able to sell the game on the PlayStation network in 2018.

READ: VR Education launches Titanic VR gaming experience

But the delay means that a “significant” chunk of revenues which would have come this year is now likely to arrive in 2019 instead.

The AIM company said the total amount of this year’s shortfall will be determined by Titanic VR’s PlayStation launch date and its initial performance.

“We are naturally disappointed that the on-boarding process with PlayStation has taken both longer than expected and longer than we have previously experienced,” said chairman Richard Cooper.

“We understand that large corporates often are very formulaic in the on-boarding process and we are learning from this experience.”

He added: “We remain confident however that Titanic VR will be available on PlayStation by the end of this financial year.”

Sales executive brought in

Away from Titanic, VR Education has beefed up its sales capability by engaging Mike Boyce, one of the company’s non-executive directors and an experienced sales executive.

He will initially be working with the team on a part-time basis, although there is the potential for the appointment to become permanent.

Should that happen, VR Education will consider appointing another independent non-executive director to ensure it remains compliant with the QCA Corporate Governance Code.

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Fri, 26 Oct 2018 07:35:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207908/vr-education-confident-titanic-vr-game-will-be-available-on-playstation-later-this-year-207908.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181026070002_13843247/ Fri, 26 Oct 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20181026070002_13843247/ <![CDATA[Media files - Engage platform will show full potential of VR Education says CEO Whelan ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10511/engage-platform-will-show-full-potential-of-vr-education-says-ceo-whelan-10511.html Tue, 18 Sep 2018 14:03:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10511/engage-platform-will-show-full-potential-of-vr-education-says-ceo-whelan-10511.html <![CDATA[News - VR Education collaboration with BBC nominated for award as half year revenues rise ]]> https://www.proactiveinvestors.co.uk/companies/news/205094/vr-education-collaboration-with-bbc-nominated-for-award-as-half-year-revenues-rise-205094.html VR Education Holdings Plc (LON:VRE) said its "1943: Berlin Blitz" experience, made in collaboration with the BBC, was nominated for best Linear Virtual Reality experience at the Venice Film Festival in September.

The experience simulates the experience of BBC journalist Wynford Vaughn Thomas, who in September 1943 reported live from a Lancaster Bomber during a bombing raid over Berlin, the audio from which is included in the experience.

WATCH: Engage platform will show full potential of VR Education says CEO Whelan

The news came amid the group's first set of half-year results since its listing on AIM in March, in which it reported revenues of €300,000, up from €230,000 a year ago, and an underlying (EBITDA) loss of €1.2mln from a €100,000 loss previously which included €600,000 in legal and professional costs relating to the firm’s initial public offering (IPO), through which it raised £6mln.

The virtual and augmented reality software group also reported a net cash position of €4.9mln at the end of the period.

In its current trading and outlook, VRE said the major update released for its ENGAGE Alpha platform had “significantly” increased functionality and was a step towards its full commercial release in the fourth quarter of 2018, with revenues for the year expected to be “heavily weighted” towards the second half and in line with market expectations.

David Whelan, VRE’s chief executive, added that the firm’s Titanic VR experience, which was released in mid-August, would “launch soon” on the PlayStation network in Europe and the USA following its release on PC, Oculus Rift, HTC Vive and Windows Mixed Reality last month.

The company is also planning to showcase its ENGAGE platform at “major education conferences” across 2018 and 2019, Whelan said, including the GESS Dubai, one of the largest educational events held annually in the United Arab Emirates.

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Tue, 18 Sep 2018 07:51:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/205094/vr-education-collaboration-with-bbc-nominated-for-award-as-half-year-revenues-rise-205094.html
<![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180918070004_13793956/ Tue, 18 Sep 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180918070004_13793956/ <![CDATA[News - VR Education up as it launches Titanic VR gaming experience ]]> https://www.proactiveinvestors.co.uk/companies/news/203019/vr-education-up-as-it-launches-titanic-vr-gaming-experience-203019.html VR Education Holdings PLC (LON:VRE) saw its shares rise on Thursday after the group said it will launch its Titanic VR experience on PC, Oculus Rift, HTC Vive and Windows Mixed Reality at 2pm today.

The AIM-listed firm, which uses virtual reality (VR) technology to develop educational products, said the game would allow users to experience the sinking of the famous ship through the eyes of a survivor, while also being able to explore a re-creation of the shipwreck on the ocean floor.

READ: VR Education confident in the prospects for its ENGAGE platform

The wreck dive segment of the game will feature a total of eight dive missions and seven lab missions in total.

The release follows VR Education’s Apollo 11 experience, which allowed players to experience the moon landing from the point of view of Neil Armstrong, that was selected for the launch collection of the Oculus Go headset in May.

David Whelan, chief executive of VR Education, said the Titanic game would serve as “a valuable resource for discovering more about the stricken ship through a realistic exploration experience, using detailed maps and 3D models of the historic wreck site”.

He added that the experience had been developed using motion tracking, face-scanning technology, and professional voice actors in order to “immerse users in the story”.

The company also said it would release its interim results for the half-year on 18 September 2018.

In mid-morning trading, VR Education shares were 7.6% higher at 17.75p.

 -- Adds share price --

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Thu, 16 Aug 2018 07:29:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203019/vr-education-up-as-it-launches-titanic-vr-gaming-experience-203019.html
<![CDATA[RNS press release - Launch of Titanic VR & Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180816070004_13757231/ Thu, 16 Aug 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180816070004_13757231/ <![CDATA[News - VR Education confident in the prospects for its ENGAGE platform ]]> https://www.proactiveinvestors.co.uk/companies/news/199872/vr-education-confident-in-the-prospects-for-its-engage-platform-199872.html VR Education Holdings Plc (LON:VRE) reported strong growth in the top-line for its Immersive VR Education business in its first set of results as a listed company.

The company, which is focused on the application of virtual reality technology for the purposes of education, said Immersive VR Education (IVRE) saw revenue from continuing operations in 2017 rise to €624,487 from €255,056.

READ: VR Education to launch Titanic experience upgrade in August​

VR Education Holdings, the holding company, acquired IVRE on 12 March 2018, the same day the holding company listed on AIM.

IVRE made a loss before tax of €623,699 in 2017, compared to a loss of €117,9992 the previous year as administrative expenses rose to €1.08mln from €362,306 in 2016.

The group's core focus is the development and commercialisation of its online virtual social learning and presentation platform, ENGAGE, which provides a platform for creating, sharing and delivering proprietary and third-party virtual reality (VR) content for educational and corporate training purposes.

"The results of IVRE reflect the continuing development of the ENGAGE platform as well as the group's other VR experiences. The board continues to be confident in the future development of VR Education and we look forward to updating the market further when we publish our interim results for the group in the week commencing 17 September 2018," said David Whelan, the chief executive officer of VR Education.

Shares in VR Education Holdings were down 0.3p at 19p.

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Fri, 29 Jun 2018 10:27:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/199872/vr-education-confident-in-the-prospects-for-its-engage-platform-199872.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180629070002_13698378/ Fri, 29 Jun 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180629070002_13698378/ <![CDATA[News - VR Education to launch Titanic experience upgrade in August ]]> https://www.proactiveinvestors.co.uk/companies/news/198428/vr-education-to-launch-titanic-experience-upgrade-in-august-198428.html VR Education PLC (LON:VRE) is to launch an upgraded version of its Titanic experience in August, slightly later than it originally scheduled.

Dave Whelan, chief executive, said the additional time would allow it to finesse some of the final details to turn Titanic VR from “a great experience to an exceptional one."

WATCH: VR Education sees 'meteoric rise' with Apollo 11 experience on Oculus Go

Financial expectations this year are unchanged, he added.

The updated version of Titanic VR puts users on the liner on the night of its sinking and enables people to tour the wreckage and interact with survivors.

A beta version launches in June, while the full commercial version will be available on PC, Oculus Rift, HTC Vive and Windows with a PlayStation VR version to follow.

A virtual reality project on the Berlin Blitz produced in conjunction with the BBC will also be released in the third quarter.

This is a virtual reality retelling of the events inside a Lancaster bomber during one of the most well-documented missions of World War II using original cockpit audio.   

VR Education has also hired Chief Technology Officer and two experienced business developers.

"We are delighted with our development progress on Part 2 of Titanic VR and feel we are about to reignite the public's imagination when it comes to the historic events around the sinking of this world-famous ship,” added Whelan.

VR Education is building a virtual reality platform, Engage, that allows developers to use VR’s showcases to produce customised content.

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Thu, 07 Jun 2018 07:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198428/vr-education-to-launch-titanic-experience-upgrade-in-august-198428.html
<![CDATA[RNS press release - Commercial Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180607070005_13670089/ Thu, 07 Jun 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180607070005_13670089/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180521112730_13648730/ Mon, 21 May 2018 11:27:30 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180521112730_13648730/ <![CDATA[Media files - VR Education sees 'meteoric rise' with Apollo 11 experience on Oculus Go ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9339/vr-education-sees-meteoric-rise-with-apollo-11-experience-on-oculus-go-9339.html Mon, 21 May 2018 10:04:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9339/vr-education-sees-meteoric-rise-with-apollo-11-experience-on-oculus-go-9339.html <![CDATA[Media files - VR Education sees 'meteoric rise' with Apollo 11 experience on Oculus Go ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9317/vr-education-sees-meteoric-rise-with-apollo-11-experience-on-oculus-go-9317.html Thu, 17 May 2018 12:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9317/vr-education-sees-meteoric-rise-with-apollo-11-experience-on-oculus-go-9317.html <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180510154805_13636932/ Thu, 10 May 2018 15:48:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180510154805_13636932/ <![CDATA[News - VR Education Holdings moves teaching to the heart of the virtual reality revolution ]]> https://www.proactiveinvestors.co.uk/companies/news/196269/vr-education-holdings-moves-teaching-to-the-heart-of-the-virtual-reality-revolution-196269.html Oculus VR is no ordinary tech company.

Acquired by social media giant Facebook Inc (NASDAQ:FB) in 2014 for US$2.3bn, it pioneered the Oculus Rift virtual reality (VR) headset designed for use in video gaming.

Eyebrows were raised at the time but with the newest offering Oculus Go set to launch shortly a reassessment might be in order.

WATCH: VR Education sees 'meteoric rise' with Apollo 11 experience on Oculus Go

This latest iteration of its headset technology will be standalone without any need for a PC or a wired connection to anything.

With a starting price of £199 (for comparison, the Oculus Rift currently retails at around a £399 starting price), the Go might also be the tipping point that transforms VR from an expensive hobby into a mass market technology.

If in doubt look at the market reaction to VR Education Holdings Plc (LON:VRE) which saw its share price rocket more than 40% when it revealed its award-winning Apollo 11 experience will be part of a package of apps included in the headset at launch.

VR’s software enables you to witness the moon landing first-hand in VR from the viewpoint of the US astronaut Neil Armstrong,

It is the portability and relatively inexpensive price tag of the Go that has the potential to be a game changer, potentially breaching the barrier between niche technology and the mass consumer market.

VR could drive student engagement remotely and in the classroom

This is all good news for VR Education, as its focus is not entertainment or gaming but rather (unsurprisingly) the education sector.

Chief executive David Whelan has recognised the potential VR technology can bring to education, with immersion and the remote connection opportunities as key drivers.

“Estimates are saying that the market we are going into will be worth £1.7bn by 2021” he said when it joined AIM recently.

The online student market in particular will be perfectly suited to the immersion and remote aspects of VR.

A cheaper and relatively simple VR headset product would make student engagement much easier both inside the classroom and for remote learning.

Even before its integration into the Oculus Go, VR Education’s Apollo 11 experience had already been downloaded more than 120,000 times and generated over €1mln in revenue for the group.

Good news for VR investors

The potential mass marketisation of VR’s Apollo 11 experience will also come as good news to early stage investor Sure Ventures PLC (LON:SURE), which currently hold a stake in VR Education.

Sure also made a £500,000 investment in virtual reality cinema company Immotion Group in April, which uses VR cinema ‘pods’ to create multi-directional sound and motion experiences for users.

“A lot of people think that the first major wave of exponential growth in virtual reality will be from this arcade-style model…where you can get this all-in-one experience that really shows you the power and potential” says Sure Ventures’ Barry Downes.

He added: “What we expect Immotion will do will drive demand for virtual reality headsets in general and kickstart the market in the UK”.

If it does, Oculus might prove to be the real winner.

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Wed, 02 May 2018 15:55:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/196269/vr-education-holdings-moves-teaching-to-the-heart-of-the-virtual-reality-revolution-196269.html
<![CDATA[News - VR Education's shares soar as Apollo 11 experience selected for Oculus Go launch collection ]]> https://www.proactiveinvestors.co.uk/companies/news/196223/vr-education-s-shares-soar-as-apollo-11-experience-selected-for-oculus-go-launch-collection-196223.html VR Education Holdings PLC (LON:VRE) shares soared in late-morning trading Wednesday after its award-winning Apollo 11 virtual reality (VR) educational experience was selected to be part of the launch collection for Oculus Go, a new standalone VR headset from US company Oculus.

The AIM-listed VR technology company said in a statement that the Apollo 11 experience, which provides users with the ability to witness the moon landing first-hand in VR from the viewpoint of the US astronaut Neil Armstrong, would also remain available on the Oculus store until 31 August 2018.

READ: VR Education makes bright start on AIM

The experience is currently available for multiple VR headsets including the HTC Vive, Oculus Rift and PlayStation VR and has been downloaded around 120,000 times as of 30 April 2018, generating over €1mln in revenue for the group.

Oculus VR is a California-based virtual reality hardware and software company that was acquired by Facebook (NASDAQ:FB) in 2014 for US$2.3bn and previously partnered with Samsung to develop its Samsung Gear VR in 2015.

David Whelan, VR Education chief executive, said: "Since its launch, the Apollo 11 VR experience has won numerous awards and has achieved considerable success on the Oculus store for Oculus Rift users.

He added: “The potential market for Apollo 11 is increasing all the time with the cost of hardware still coming down and the launch of the Oculus Go all-in-one headset now means you do not need a PC or smartphone to enjoy a full VR experience.”

VR Education shares were up 45.8% at 15.7p.

--Updates share price--

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Wed, 02 May 2018 08:06:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/196223/vr-education-s-shares-soar-as-apollo-11-experience-selected-for-oculus-go-launch-collection-196223.html
<![CDATA[RNS press release - Apollo 11 VR app selected for Oculus Go launch ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180502070013_13626589/ Wed, 02 May 2018 07:00:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180502070013_13626589/ <![CDATA[RNS press release - Appointment of Adviser ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180409082520_13596086/ Mon, 09 Apr 2018 08:25:20 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180409082520_13596086/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180314101017_13566566/ Wed, 14 Mar 2018 10:10:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16151/LSE20180314101017_13566566/ <![CDATA[News - VR Education makes bright start on AIM ]]> https://www.proactiveinvestors.co.uk/companies/news/193009/vr-education-makes-bright-start-on-aim-193009.html VR Education Holdings Plc (LON:VRED), the first Irish tech company to float in the UK since the dot.com boom made a steady start to life on AIM today.

A learning technology specialist, VR has made a name for itself with 3D re-creations of the Apollo 11 Moon landing and Titanic’s ill-fated maiden voyage.

WATCH: VR Education in right place at right time as online education booms

David Whelan, chief executive, told Proactive that the business had grown from a start-up funded by a €1,000 loan from his sister to a £19mln business in just three years.

VR used the 3D re-creations to showcase its learning platform, where it already has established partnerships with universities such as Oxford, enterprises including the BBC and business training firms.

Education and corporate training in a virtual reality environment are the main markets being targeted.

“If you are going to study marine biology, why not do it from the seabed,” he said.

READ: Sure Ventures readies for the virtual reality revolution

VR shipped more than 100,000 copies of its Apollo 11 VR through the Oculus and Playstation stores.

A key differentiator of its platform is that it enables educators and trainers to create their own VR lessons and presentations.

The founders own 58% of VR, while Irish venture capital group Suir Valley, now Sure Ventures PLC (LON:SURE), has an 8.7% stake.

Barry Downes, Suir’s chief investment officer, also owns a further 9%.

Timing spot on

Timing has aided the group’s rapid rise, Whelan told Proactive.

He cites a film due to be released in two weeks time called ‘Ready Player One’, which is all about virtual reality.

Based on a tech bestseller, the first third focuses on education.

Whelan says he read the book on a trip to the US to see potential investors and just said to them we have that platform already.

VR Education raised £6mln in a placing priced at 10p ahead of the float.

Shares were changing hands at about 11.5p near the close Monday to give a market capitalisation of £19.3mln

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Mon, 12 Mar 2018 15:02:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/193009/vr-education-makes-bright-start-on-aim-193009.html
<![CDATA[Media files - VR Education in right place at right time as online education booms ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/8864/vr-education-in-right-place-at-right-time-as-online-education-booms-8864.html Mon, 12 Mar 2018 09:49:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/8864/vr-education-in-right-place-at-right-time-as-online-education-booms-8864.html