Tekcapital's Guident scores new patent related to autonomous driving
( ), an intellectual property investment group, updated markets on its wholly-owned portfolio company Guident, which is developing a remote monitoring and control architecture to improve the safety of autonomous vehicles, as well as a regenerative shock absorber system to improve EV efficiency.
Tekcapital announced that Guident has received a new US patent related to its proprietary technology for remote control and monitoring of autonomous vehicles. The award significantly expands Guident's patented IP, building on substantial progress in R&D since Tekcapital's first investment in the company in 2018.
The new patent teaches the architecture and methods for near real-time, intelligent monitoring and controlling of autonomous vehicles and delivery devices fleets. The teleoperation architecture includes an in-vehicle intelligent monitoring and controlling device that predicts, detects, and reports incidents to its Remote Monitor and Control Center (RMCC), providing real-time assistance services to passengers. A human-in-the-loop supervises the AI, enhancing the overall safety of the system.
"We are thrilled to unveil this remarkable addition to our intellectual property portfolio. This patent not only represents our commitment to passenger safety and assistance services but also signifies a significant leap forward in efficient autonomous vehicle fleet operations" commented Dr. Gabriel Castaneda, Guident's Vice President for AI and Research.
Automated supervision and safety driver roles will be critical for decades for all levels of vehicle automation before reaching full autonomy SAE level 5. RMCC-type technology is quickly becoming a legal requirement in multiple US states and other countries. All types of vehicles can benefit from the technology, including passenger road vehicles, agricultural equipment, mining equipment, and unmanned military vehicles.
According to Triton Market Research, "the last mile AV autonomous vehicle delivery market is expected to reach $41.7 billion by 2028 with a CAGR of 19%". Contactless delivery has been in high demand since the Covid-19 pandemic, which Guident believes will accelerate the rollout of land-based delivery drones where its Remote Monitor and Control Center system can shine.
Separately, Guident continues to develop its patented Regenerative Shock Absorber (RSA) technology that converts more of an EV's motion into electrical energy, extending range. Regenerative braking is a well-known technology, however Guident's system harnesses energy from shock absorbers. "With precise force and displacement measurements, we aim to demonstrate the advantages of the modern energy-harvesting shock absorber over traditional oil-filled shock absorbers", the company has said.
Guident's RSA technology can make all types of vehicles more sustainable, including ICEs, hybrid, and EVs. It increases the energy harvesting efficiency by c. 70% over existing energy-harvesting shock absorbers, and can deliver extra EV range of 6-12 miles per charge.
In terms of milestones, in FY22 Guident signed on its first customer, the Jacksonville Transportation Authority, for its remote monitoring and control service. A second customer, the Boca Raton Innovation Campus, has signed a letter of intent. Guident also made significant progress in bringing to market its RSA tech, currently in testing with several Tier-1 companies.
Guident's valuation has increased steadily since Tekcapital's initial investment in 1H 2018, reaching £20m in just 4 years:
We see Tekcapital as significantly undervalued at the moment. Tekcapital's NAV per share was adjusted to US$0.38 (31p) at the end of FY22 while its current share price is 11p. There is significant potential for growth therefore, with MicroSalt's upcoming IPO a possible value inflection point for the company.
The overall trend for Tekcapital's portfolio is up with steady increases in valuation each year since initial investment in 2018 (see chart below). From a technical standpoint, some consolidation was expected at this point, and the wide discount to NAV offers an attractive entry point.
Tekcapital historical net assets (US$m)
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