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Intellectual property (IP) specialist Tekcapital (LON:TEK) has strengthened its position in the energy harvesting space - with the acquisition of an exclusive licence to additional in-shoe technology from the University of Michigan.
It follows an initial licence bought from the US university in June this year.
Shares nudged 1.05% higher to 48p in early deals.
The patent application seeks to protect a novel design for an energy-harvesting device contained in a shoe which could generate power from walking, running and jumping for recharging mobile devices.
Tekcapital's executive chairman Dr Clifford Gross said: "We believe the acquisition of the exclusive license to this additional energy harvesting patent application further strengthens our intellectual property position in the energy harvesting space.
"Our goal is to prepare the technology for sublicensing to a major footwear manufacturer.
"We are actively engaged in testing a prototype utilising this technology and will update the market in due course."
Tekcapital highlighted recent research, which showed the total addressable market for wearable computing devices is forecast to reach up to US$34.6 billion by 2020.
The firm reckons that most of the devices in this segment could potentially benefit from portable energy harvesting technology that generates power from human movement. Additionally, there are currently approximately 2 billion smartphone users worldwide who they believe could also potentially benefit from energy harvesting technology.