MOU with Virtual College

RNS Number : 6068R

VR Education Holdings PLC

01 July 2020

 

For immediate release

1 July 2020

VR Education Holdings plc

('VR Education' or the 'Group')

Memorandum of Understanding with Virtual College

VR Education (AIM: VRE; Euronext Growth: 6VR), a leading virtual reality ('VR') technology company focused on the education and enterprise training space,   is pleased to announce that it has signed a memorandum of understanding ('MOU') with Virtual College Limited ('Virtual College'), an industry-leading digital learning solutions provider, to provide and deliver technology enhanced learning solutions in the UK and Middle East.

Founded in 1995, Virtual College is one of the UK's leading providers of digital training solutions. Its learning technology team are experts in designing and developing vocational learning solutions - including ready-to-go courses on topics such as safeguarding, health and safety, business compliance, leadership and management as well as developing bespoke digital and blended training transformation programmes. To date Virtual College has supported over 4.2 million registered online learners across both public and private sectors.

VR Education's ENGAGE platform is a world leading education, training and communications tool used by educators and enterprise clients to provide remote training, distance learning, and, most recently, as a platform to provide global virtual events.

The MOU will enable both teams, on terms to be agreed for each project, to collaborate on digital training projects and programmes that require a multi-media blended approach using some of the latest VR / digital learning technologies and tools. The MOU presents significant commercial opportunities for Virtual College and VR Education, some of which have already been identified in sectors such as healthcare, infrastructure, defence and security.  The technology-enhanced learning solutions created under the MOU will be available to customers across the UK, the United Arab Emirates, Saudi Arabia, Kuwait and Qatar.

Commenting on the MOU, David Whelan, CEO of VR Education, said:

"Virtual College shares our passion for giving businesses and individuals effective learning solutions.  We are delighted to have formed this exciting partnership to enable customers to benefit from a combination of our immersive ENGAGE platform alongside the award-winning content provided by Virtual College and I look forward to updating shareholders on our progress in due course."

Rod Knox, CEO of Virtual College, added:

"We have always focused on using new technology to enhance the traditional approach to training, and our work with VR Education to deliver training using virtual reality, really helps accelerate that theme.

I am tremendously excited at the prospects for our combined proposition and look forward to progressing our relationship in the years ahead."

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

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For further information, please contact:

VR Education Holdings plc David Whelan, CEO Sandra Whelan, COO	Tel: [phone] [e-mail]
Cairn Financial Advisers LLP (Nominated Adviser) James Caithie / Liam Murray / Ludovico Lazzaretti	Tel: [phone]
Shard Capital Partners LLP (Joint Broker) Damon Heath / Erik Woolgar	Tel: [phone]
Davy (Joint Broker & Euronext Growth Advisor) Fergal Meegan / Ronan Veale / Barry Murphy	Tel: [phone]
Buchanan (Financial PR) Henry Harrison-Topham / Chris Lane / Tilly Abraham	Tel: [phone] [e-mail]

Notes to Editors

VR Education, together with its wholly owned subsidiary, is an early stage VR software and technology group based in Waterford, Ireland, dedicated to transforming the delivery methods of education and corporate training by utilising VR technologies to deliver fully immersive virtual learning experiences.  The Group's core focus is the development and commercialisation of its online virtual social learning and presentation platform called ENGAGE, which provides a platform for creating, sharing and delivering proprietary and third-party VR content for educational and corporate training purposes.

In addition to the ongoing development of the ENGAGE platform, 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 Education listed on the AIM market of the London Stock Exchange and on the Enterprise Securities Market, a market regulated by Euronext Dublin.  For further information, please visit www.vreducationholdings.com .

 

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