VR Education : ENGAGE selected by Facebook

RNS Number : 0894R

VR Education Holdings PLC

25 October 2019

25 October 2019

VR Education Holdings plc

('VR Education' or the 'Group')

ENGAGE selected by Facebook to accelerate VR adoption

VR Educa on (AIM: VRE; Euronext Growth: 6VR), a leading virtual reality ('VR') technology company focused on the educa on and enterprise training space, is pleased to announce that the Group's ENGAGE pla orm has been selected by Facebook (NASDAQ:FB) for its Oculus Independent So ware Vendors ('ISV') programme. The Oculus ISV programme works with enterprise developers and so ware companies to engage with Oculus in order to accelerate customer adop on of VR solu ons built for Oculus enterprise products. As a result, following the an cipated roll-out of Oculus for Business in early 2020, VR Educa on's ENGAGE pla orm will, for the first me, be available via a special portal for Oculus enterprise clients to access and connect with. In addi on, the Group will be one of only a few select developers who will able to provide services using Facebook equipment as well as receiving addi onal support from them.

Facebook, which manufactures the Oculus Ri and Oculus Quest, are currently the market leaders in standalone VR device sales with the Oculus Quest on track to sell over one million units this year following its release in late May 2019. Facebook's CEO, Mark Zuckerberg, recently told shareholders at its Q2 2019 earnings call: "This quarter, we shipped Oculus Quest, our first all-in-one headset with no wires and full freedom of movement. It has go en great reviews and we're selling them as fast as we can make them. More importantly, we've delivered an experience that people keep using week after week, and buying more content."

The ENGAGE pla orm is an advanced virtual reality training and educa on pla orm that makes it easy to collaborate on tasks remotely, create new content and learn in VR. The ENGAGE team have signed up various commercial deals in the US and Korea with educa onal ins tu ons and the Group is currently engaged in nego a ons with various large multinationals to provide enterprise solutions to their workers and training professionals.

David Whelan, CEO of VR Educa on, said:"It is fantas c to be chosen by Facebook to help accelerate the wider adop on of VR globally. Oculus has an amazing technology pla orm and ENGAGE is leading the way when it comes to distance learning and remote team collabora on. I see an extremely bright future for this technology with the release of high-end mobile devices, such as the Oculus Quest and the HTC Vive Focus, as well as the release of 5G high speed mobile internet.

Business and enterprise will only adopt new technology when they see compelling advantages to doing so and ENGAGE is being developed to meet these business needs providing virtual mee ng rooms and training scenarios which save customers me and money. To date, adop on of VR/AR has been steady, however with Facebook, HTC, O2, Deutsche Telekom and many others all now working towards the growth of 5G and AR/VR, we believe that will see an acceleration of adoption over the next 18 to 24 months."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

- Ends -

For further information, please contact:
VR Education Holdings plc	Tel: [phone]
David Whelan, CEO	[e-mail]
Sandra Whelan, COO
Cairn Financial Advisers LLP (Nominated Adviser)	Tel: [phone]
James Caithie / Liam Murray / Ludovico Lazzaretti
Shore Capital (Joint Broker)	Tel: [phone]
Toby Gibbs / Anita Ghanekar
Fiona Conroy

Davy (Joint Broker & Euronext Growth Advisor)

Tel: [phone]

Fergal Meegan / Ronan Veale / Barry Murphy
Buchanan (UK Financial PR)	Tel: [phone]
Henry Harrison-Topham / Chris Lane / Tilly Abraham	[e-mail]

Notes to Editors

VR Educa on, together with its wholly owned subsidiary, is an early stage VR so ware and technology group based in Waterford, Ireland, dedicated to transforming the delivery methods of educa on and corporate training by u lising VR technologies to deliver fully immersive virtual learning experiences. The Group's core focus is the development and commercialisa on of its online virtual social learning and presenta on pla orm called ENGAGE, which provides a pla orm for crea ng, sharing and delivering proprietary and third-party VR content for educa onal and corporate training purposes.

In addi on to the ongoing development of the ENGAGE pla orm, the Group has also built two downloadable showcase VR experiences, being the award-winning Apollo 11 VR experience and the Titanic VR experience.

On 12 March 2018, VR Educa on listed on the AIM market of the London Stock Exchange and on the Enterprise Securi es Market, a market regulated by Euronext Dublin. For further informa on, please visit www.vreducationholdings.com.

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