ENGAGE Update & Investor Presentation
12 November 2021
ENGAGE XR Holdings plc, a virtual reality ('VR') technology company, is pleased to update on the progress of its proprietary software platform ENGAGE, and an upcoming presentation to investors.
The Group has signed an initial six-figure dollar contract to August 2023 with Optima Domi LLC ("Optima Domi"), an innovative classical curriculum development company, to service the first VR-based Florida charter school. Optima Classical Academy will start in the fall semester of 2022 with 1,350 to 1,500 third grade through to eighth-grade instructors and scholars attending classes virtually using the ENGAGE platform. Students will experience their school day and all subject area lessons inside the platform with specific immersive lessons built by Optima Domi, who will also manage the platform for the academy. It is planned that in the 2023/2024 school year, it will be extended to the eleventh grade and in the following school year, from kindergarten through to twelfth grade.
In addition, the multi-national science-based technology company, 3M, has used the ENGAGE platform to build its own MetaWorld "3M Home". 3M Home is an exploratory VR pilot project with ENGAGE XR and a global cross-functional 3M team; the contract with 3M was announced on 28 July 2021 by the Group as part of a wider trading update. The project focuses on transforming the customer experience allowing them to interact, engage and collaborate with 3M materials and technologies in real-time from anywhere in the world. 3M Home expands the ability to connect with customers in an immersive virtual experience and helps demonstrate what is possible with 3M. (3M Home can be viewed here)
ENGAGE XR is pleased to announce that the Group will be attending MelloMonday on Monday 22 November 2021. David Whelan, CEO & Seamus Larrissey, CFO, will be presenting and taking questions from participants. If you would like to attend, you can register here for the event using code SHVIP for 75% off tickets.
David Whelan CEO, ENGAGE XR said: "For ENGAGE to be chosen to enable the world's first online VR Charter school is very exciting. ENGAGE is being utilised more and more in education and enterprise settings. Companies and organisations are also beginning to look at the role the MetaVerse can play in engagement. The development of 3M Home using ENGAGE is a great example. Facebook's recent announcement about its plans in this space has helped shine a light on what we have been building over the past five years, increasing interest in the services we provide. ENGAGE is the most customisable platform of its kind on the market today, and allows users to create unique events, deliver corporate training and develop content in one simple package.
"With security and reputation key to the success of any online business, the recent announcement of ENGAGE XR being awarded ISO27001 Certification, and our world class security measures put us ahead of the competition in many areas.
"We believe the next 12 months are going to be exciting. As some of the world's biggest brands begin to move into this space, market recognition of VR and the Metaverse is increasing. We are enabling our customers to build their own unique MetaWorlds just as they built their own unique websites 20 years ago. The Metaverse will be a collection of interconnected virtual worlds and ENGAGE XR can play a key role in enabling it."
For further information, please contact:
ENGAGE XR Holdings plc
David Whelan, CEO
Séamus Larrissey, CFO
Sandra Whelan, COO
Tel: +353 87 665 6708
Cairn Financial Advisers LLP (Nominated Adviser)
James Caithie / Liam Murray / Ludovico Lazzaretti
Tel: +44 (0) 20 7213 0880
Shard Capital Partners LLP (Joint Broker)
Damon Heath / Erik Woolgar
Tel: +44 (0) 20 7186 9952
Davy (Joint Broker & Euronext Growth Advisor)
Barry Murphy / Lauren O'Sullivan / Oisin Morgan
Tel: +353 1 679 6363
SEC Newgate (Financial PR)
Elisabeth Cowell / Robin Tozer / Isabelle Smurfit
Tel: +44 (0)7540 106 366
About ENGAGE XR
ENGAGE XR Holdings plc (AIM: EXR; Euronext Growth: EXR) is a virtual reality ('VR') technology company focused on becoming a leading global provider of virtual communications solutions through its proprietary software platform, ENGAGE. ENGAGE provides users with a platform for creating, sharing, and delivering VR content for education, training, and online events through its three solutions: Virtual Campus, Virtual Office, and Virtual Events.
ENGAGE is currently developing a new fully featured corporate metaverse codenamed "ENGAGE Oasis" with the launch expected in the first half of 2022.
EXR is listed on AIM in London and on the Enterprise Securities Market, a market regulated by Euronext Dublin. For further information, please visit: www.engagexrholdings.com (LinkedIn: @Engage XR Holdings plc Twitter: @engage_xr)