NASA technology licensing | First GC Shield school contract signed | Funding round extended

NASA:  We have received approval to join NASA’s Technology Transfer Program as a licensee of their patented technology. Combined with our existing partnership with the UK’s Centre for Process Innovation, we think this brings us several steps closer to turning our patent-pending Lightning Harvester renewable energy idea into reality. This follows our winning the UK Space Tech Entrepreneur award for the North East for a project to extend our GC Shield technology to protecting satellites. We also expect to announce a partnership with a major defence and aerospace contractor in the next few months.

First $1.2m school contract:  We have now signed our first full contract with a US school district for GC Shield active shooter protection. This is a $1.2m, two-year multi-phase contract, and several other schools and places of worship are in our sales pipeline. These flagship installations will drive further growth.

Extended UK funding round:  Following our 1.7x subscribed £0.5m UK funding round in March, we have received additional investor requests – and so we have decided to extend this funding round until the end of August. Despite the fact that our investment proposition has strengthened considerably since March (e.g. with the patent examiner’s approvals, signed customer contract and NASA technology partnership) we will keep the share price the same as in the Feb/Mar investment memorandum, i.e. 161.5p per share. This round still qualifies for EIS tax relief; in order to limit the processing costs, there will be a minimum investment of £1,000. If you would like to invest, please get in touch and we will send you the March investment memorandum with an addendum of investor updates.

In short, over the past few months, we have again made significant further progress, with key highlights including signing our first major US GC Shield contract for active shooter protection, and acceptance into NASA’s Technology Transfer Program. There is much more to come.