VR Education : US Space & Rocket Center extends agreement

RNS Number : 5691X

VR Education Holdings PLC

20 December 2019

20 December 2019

VR Education Holdings plc

('VR Education' or the 'Group')

U.S. Space & Rocket Center extends agreement

and

ENGAGE launched on HTC Viveport platform

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 further to the announcement issued on 23 May 2019, the U.S. Space and Rocket Center in Huntsville, Alabama, has following a successful ini al trial period, agreed to extend the commercial agreement for the Apollo 11 VR experience (the 'Agreement') for a further twelve months from 19 December 2019. VR Educa on is also pleased to announce that its ENGAGE pla orm has launched on HTC's Viveport ecosystem.

U.S. Space & Rocket Center extends agreement

The U.S. Space and Rocket Center in Huntsville, Alabama, is one of the top avia on and aerospace museums in the USA and Alabama's top paid tourist a rac on. The extension to the Agreement is for the use of the Apollo 11 VR experience, which provides visitors with the opportunity to experience the moon landing within virtual reality using a shortened version of the Group's showcase Apollo 11 VR experience. Visitors will be able to con nue to purchase ckets for this experience at any one of 15 sta ons at circa US$10 and VR Educa on will con nue to benefit from this

through a revenue share as set out in the Agreement.

David Whelan, CEO of VR Educa on, said: "We are delighted that the U.S. Space and Rocket Center has decided to extend our original agreement by a year. This follows a highly successful trial period which has seen considerable take up of our Apollo 11 VR experience. It has proven to be a popular addi on to the museum for its visitors and has generated an addi onal revenue stream for both par es involved. We look forward to con nuing our strong working rela onship with the U.S. Space and Rocket Center and allowing their visitors to experience one of the greatest moments of our time."

ENGAGE launched on HTC Viveport platform

The ENGAGE pla orm has this month launched on HTC's Viveport ecosystem which supports android based devices such as the Vive Focus and Vive Focus Plus, with the latter targeting professional and corporate clients.

HTC has a strong presence in Asia and Europe and recently collaborated with China Mobile (CMCC) to launch the "5G Devices Forerunner Ini a ve", which aims to conduct large scale tests of pre-commercial 5G devices. HTC and CMCC are hoping that the ini a ve can discover and lead to the development of new applica ons for VR before 5G's commercial rollout in 2020.

David Whelan commented: "China's VR market is forecast to reach US$7.9 billion by 2021, driven by increased policy support and 5G roll-out. The ENGAGE pla orm is now available to this rapidly growing Asian market via Viveport and will appeal to businesses and corpora ons seeking to provide rapid deployment of training materials to their workers. ENGAGE will also be a valuable tool for educators in Asia looking to replace tradi onal online learning solutions where video-based communications are not meeting requirements."

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 (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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