TP Group PLC AI system contract in the United States
October 06 2020 - 1:00AM
RNS Non-Regulatory
TIDMTPG
TP Group PLC
06 October 2020
6 October 2020
TP Group plc
("TP Group", "the "Company" or the "Group")
Artificial Intelligence system contract in the United States
TP Group (AIM: TPG), the provider of mission-critical solutions
for a more secure world, is pleased to announce that it has signed
a contract worth c.GBP0.2m with Mountain Horse Solutions of
Colorado Springs CO, to develop an autonomous navigation platform
for land-based vehicles for the United States Department of
Defense.
The contract starts immediately for a period of nine months. The
TP Group Digital Solutions team based at Fareham in Hampshire,
working in partnership with Mountain Horse Solutions, will develop
and demonstrate a system for a convoy of autonomous vehicles using
the autonomous navigation element of TP Group's existing suite of
AI, machine learning and decision support software tools.
Following successful demonstration of the concept, there is the
potential to move to a production model that could go into live
operation by the end of 2021.
Phil Cartmell, Chief Executive Officer of TP Group,
commented:
"We are very excited to begin work on another application of our
AI tools, this time for land vehicles.
"It is the first commercial business for these systems in the
United States and we look forward to working with Mountain Horse
Solutions to build upon this contract and generate further business
in this key market."
For further information, please contact:
TP Group plc Tel: 01753 285 810
Phil Cartmell, Chief Executive Officer
Derren Stroud, Chief Financial Officer
www.tpgroup.uk.com
Cenkos Securities plc Tel: 020 7397 8980
Stephen Keys / Mark Connelly / Callum
Davidson
www.cenkos.com
Vigo Communications Tel: 020 7390 0230
Jeremy Garcia / Charlie Neish
www.vigocomms.com
Notes to Editors
TP Group delivers complex equipment, software and services for
mission, business and safety critical applications in defence,
space, intelligence & security and energy sectors. With more
than 400 people in 6 European countries, it serves global customers
through long-term contracts. The Group's shares have been traded on
AIM since July 2001.
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END
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