SEVERAL PATENTS GRANTED ACROSS THE US AND THE EU, STRENGHTENING THE INTEGRATEDXR® IP

Rhea-AI Summary

Vection Technologies has announced the granting of several patents in the US and Europe for its INTEGRATEDXR technology stack. Key patents include methods for executing 3D transformations with VR input devices and structured video recording in virtual environments. These patents aim to enhance user experience and business applications across various sectors, including hospitality and healthcare. Managing Director Gianmarco Biagi emphasized the importance of these patents in solidifying the company's global intellectual property position. Vection Technologies trades on the OTC markets under the symbol VCTNY.

Positive

• Patents granted in the US and Europe strengthen the company's intellectual property position.
• Innovative patents enhance user experience and expand application in various sectors.

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• None.

PERTH, Australia, March 19, 2023 /PRNewswire/ -- Vection Technologies, the INTEGRATEDXR^® company, announces several patents granted across the US and Europe related to its INTEGRATEDXR^® technology stack.

The United States Patent Office (USPTO) has issued patent number 11,398,082 entitled "Affine transformations of 3D elements in a virtual environment using a 6DOF input device". The patent is directed to a method that allow the user of a 3D graphics software to execute an affine transformation using a virtual reality (VR) input device, in less steps and with a higher precision, reliability and flexibility compared to prior schemes.

The Italian Patent and Trademark Office (UIBM) has also issued patent number 102020000020347 entitled "Method and related tools for customizing the re-playing of video sequences in a virtual world." The patent covers a method for structured recording in VR, capable of synthesising digital video to be viewed across any 3D viewing device and edited through suitable software.

The UIBM has also issued patent number 102019000007452 entitled "Software application for the control and management of three-dimensional models and related operating procedure." The patent relates to an application for uploading and modifying 3D models within a VR environment.

In addition, the UIBM has issued utility model number 202022000004782 entitled "Equipment for managing the admission and/or exit procedure, through personal data registration in hotels, hospitals, ports, airports, and public services in general." The patent covers a modular shell that includes technology to detect and process personal data and holographic touchless systems capable of allowing man-machine integration without physical contact.

"Since we embarked on the evolutionary journey from real-time VR and AR software to fully INTEGRATEDXR^®, we have been working on strengthening our intellectual property position and underscore our commitment to help businesses bridge the physical and digital worlds," said Gianmarco Biagi, Managing Director of Vection Technologies. "The official recognition of our patent portfolio is a first step aimed at protecting our leading position globally".

ABOUT INTEGRATEDXR^®:

Vection Technologies is revolutionizing businesses adoption of Extended Reality (XR) technologies, with the introduction of the INTEGRATEDXR^® workflow. 

From Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR) technologies to the Metaverse, ICT Infrastructure, Kiosks and 3D Modeling and Rendering services – Vection Technologies helps businesses bridge the physical and digital worlds, through a unique INTEGRATEDXR^® experience.

ABOUT VECTION TECHNOLOGIES:

Vection Technologies is a growing enterprise-focused company that helps businesses bridge the physical and digital worlds. We help organizations leverage their 3D data via powerful extended reality (XR) interfaces that foster collaboration and learning, grow sales and more.

Vection Technologies is listed on the Australian Securities Exchange (ASX) with ticker code VR1, and trades on the U.S. over-the-counter (OTC) markets under the symbol VCTNY.

For more information, please visit: www.vection-technologies.com

FORWARD LOOKING STATEMENTS:

Certain statements made in this release are forward-looking statements. These forward-looking statements are not historical facts but rather are based on Vection Technologies' current expectations, estimates and projections about the industry in which Vection Technologies operates, and beliefs and assumptions. Forward looking statements can generally be identified by the use of forward-looking words such as 'anticipate', 'believe', 'expect', 'project', 'forecast', 'estimate', 'likely', 'intend', 'should', 'will', 'could', 'may', 'target', 'plan' and other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance or outlook on future earnings, distributions or financial position or performance are also forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the control of Vection Technologies, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of Vection Technologies only as of the date of this release. There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Vection Technologies has no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this release except as required by law or by any appropriate regulatory authority.

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SOURCE Vection Technologies Ltd

FAQ

What patents were granted to Vection Technologies on March 19, 2023?

On March 19, 2023, Vection Technologies received several patents, including methods for 3D transformations using VR input devices and structured video recording in virtual environments.

How does the patent portfolio impact Vection Technologies (VCTNY)?

The patent portfolio enhances Vection Technologies' intellectual property position, potentially providing a competitive edge in the XR market and protecting its innovations.

What technologies are covered under the new patents of Vection Technologies?

The new patents cover technologies related to 3D transformations in virtual environments, video sequence customization, and management of 3D models.

Where can I find more information about Vection Technologies?

More information about Vection Technologies can be found on their official website at www.vection-technologies.com.