Tekcapital investee Guident awarded Space Florida grant

Intellectual property investor Tekcapital announced on Friday that its subsidiary Guident had been awarded funding from Space Florida, as part of the Florida-Israel Innovation Partnership programme.

The AIM-traded firm said the grant would support the development of a safer remote monitoring and control centre (RMCC) for terrestrial autonomous vehicles.

Guident would collaborate with its Israeli partner NOVELSAT on the project.

The company said the primary goal of the project was to create a robust monitoring and control system for autonomous vehicles, incorporating satellite communications to ensure redundancy and continuous surveillance.

By leveraging satellite technology, the project aimed to address challenges such as limited terrestrial mobile wireless network coverage and provide alternative mobile network connectivity options.

“Guident is privileged to have the invaluable support and guidance of Space Florida with their unrivalled experience and strategic location for this new initiative,” said Dr Gabriel Castaneda, Guident's vice-president for AI and research.

“This funding will help propel us forward as we embark on the development and scale of an effective Remote Monitoring and Control Solution with enhanced vehicle safety, together with our Israeli Partner NOVELSAT.”

At 1006 BST, shares in Tekcapital were up 3.26% at 11.49p.

Reporting by Josh White for Sharecast.com.