Tekcapital (TEK ), the intellectual property investment group, updated markets this morning on its portfolio company Guident.
Tekcapital announced that Guident has been selected by the Boca Raton Innovation Campus (BRiC) in Flroida to provide an autonomous shuttle service for a 2.1-mi fixed route within BRiC, connecting to the Boca Raton Tri Rail station.
The service will utilise Polaris GEM e6 vehicles equipped with autonomous capabilities, integrated with Guident's Remote Monitor and Control Center (RMCC) located at BRiC. Guident's patented RMCC provides an added layer of security for autonomous fleets by integrating remote human supervision.
BRiC aims to upgrade its current traditional shuttle service with electric autonomous vehicles. BRiC has the largest single-office complex in Florida, originally built in 1969 for IBM's Research and Development facility, home to the invention of the first personal computer. The campus was acquired by CP Group in 2018 with the vision of restoring its status as a major science and technology hub.
"We are pleased to have executed a letter of intent (LOI) with Guident to have them provide our autonomous and remotely monitored shuttle service throughout BRiC" said Michael Perrette, General Manager of CP Group, the owner-operator for BRiC.
"Innovation and sustainability are driving forces for our business model. We look forward to partnering with Guident to contribute to these goals and the use of autonomous vehicle technology in the 21st century." Perrette added.
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Another important milestone for Guident which is quickly becoming a leader in autonomous vehicle control systems. It is notable that BRiC has the largest single-office complex in Florida, and the Boca Raton Tri Rail station is the most frequented station in South Florida, giving the company good exposure.
In Northern Florida, Guident was selected in May as vendor to the Jacksonville Transportation Authority. Jacksonville is the largest city in Florida and the largest by area in the contiguous US. Guident has so far filed for 8 patents in the US, and its value has increased steadily since TEK's initial investment in 1H 2018, reaching £20m in just 4 years:
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 (RMCC) system can shine.
Guident's RMCC technology features a cloud-based software solution that links operators to autonomous vehicle (AV) fleets. Guident's solution is AV agnostic and can interact with any vehicle's drive-by-wire system via a robot operating system (ROS) or API. The remote-control center consists of multiple operator stations equipped with full vehicle controls, including steering wheel, accelerator, stop pedals, as well as HD curved monitor displays. Operators continuously monitor their assigned AV fleets in case they need to intervene in certain edge cases.
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 several US states and other countries. Guident also points to other types of vehicles besides passenger road vehicles that can benefit from the technology, such as agricultural equipment, mining equipment, and unmanned military vehicles.
We therefore recommend you stay tuned to Guident news as the company continues to grow and capitalise on a $42bn market opportunity for last-mile AV solutions. Guident's CEO Harald Braun will be Europe soon for discussions with multiple potential customers on last mile delivery solutions.
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