Proactive Investors - Run By Investors For Investors

Tekcapital’s Guident portfolio company praises “visionary” move by Florida lawmakers to legalise self-driving cars

Once the bill is officially signed off by state governor Ron DeSantis, people in Florida will be able to use their own driverless cars as well as hail them from ride-share apps such as Uber and Lyft
self driving car
Guident is wholly-owned by Tekcapital

Florida has moved to legalise self-driving cars – good news for Tekcapital PLC’s (LON:TEK) portfolio company, Guident, which has hailed the “visionary” decision.

Based on technology licensed from a Florida university, Guident is developing software to improve the safety and utility of autonomous vehicles (AVs).

READ: Guident files for new patent for self-driving car tech

That leaves it well-placed to benefit from the bill passed by Florida’s state legislature on Wednesday making it legal to operate AVs all over the Sunshine state. All the bill needs now is governor Ron DeSantis’ signature for it to officially go into law.

As well as being able to drive their own driverless cars, people will also be able to hail them once ride-share apps such as Uber start to roll them out.

“Guident welcomes this visionary decision,” said Guident chairman Harald Braun.

“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 added: “One of the main criteria for market success of AVs…is governments' willingness to regulate and support AV development.

"The 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.”

View full TEK profile View Profile

Tekcapital PLC Timeline

Related Articles

Tekcapital
Mon
Tekcapital expects “the quickening pace of innovation” in the portfolio companies to lead to higher service revenues in the future
MRI scanner
March 19 2019
The company invests and helps build companies in the medical and technology sectors, with a target exit valuation of over US$100mln
Irrigation
May 15 2019
The company’s products can be used for wireless and mobile internet applications, while its military hardware encompasses a range of tactical and specialised communications antennas

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use