The Vection Technologies Ltd (ASX: VR1) share price retreated from an intraday high of 14.5 cents to close flat at 13.5 cents today – the same price it opened at this morning. This comes after the tech company announced the launch of an augmented and mixed reality (XR) interface for computer aided design (CAD) software through its 2021 Mindesk suite.
In today’s release, Vection said it will officially launch its Mindesk suite at the world’s biggest tech stage, CES 2021. The annual event brings the biggest names together to display their latest technology. It is being conducted online through the organiser’s media hub this year due to COVID-19.
Mindesk in a nutshell
Mindesk is a Vection subsidiary based in California that develops a real-time 3D design platform for use by designers, architects, engineers and CAD users.
The company enables users to design projects from CAD through a XR interface without the need to export. In addition, users can seamlessly switch their workflow between XR and desktop, editing and collaborating on demand.
New Mindesk 2021 suite
Previously, Mindesk’s Live Link supported the use of CAD software in a virtual reality environment, negating the need for programming skills and time-consuming export and configuration processes.
However, with the latest Mindesk release, the platform now includes Microsoft Hologens 2, Varjo XR1, and Varjo XR3. This new interface lets engineers and designers to place a virtual hologram of their model next to their workstation. The program is operated by mouse and keyboard, or by a 6DOF XR controller.
Developed to meet demanding requirements in the digital work space, Vection said that Mindesk XR application was “a milestone breakthrough”. Users can project the image which will allow them to take note of 3D assemblies, simulations, or point clouds.
One of many potential applications that Mindesk can be integrated within is the automotive industry. Modelling a 3D car in XR can effectively cut significant time in any rework for design concepts, thus bringing the product faster to market.
Management commentary
Vection director and Mindesk subsidiary CEO Gabriele Sorrento, said:
VR has been increasingly accepted by enterprises in the past two years. However, Mixed Reality now offers the opportunity to reach a wider professional audience.
We directed our efforts at breaking down the latest barriers of adoption of VR. The natural blend of mixed reality with existing professional tools and practices makes the transition to the XR not just seamless, but undelayable.
Vection managing director Gianmarco Biagi, added:
We are pleased to participate in the world’s biggest annual consumer electronics show, the CES 2021, presenting the breakthrough integration of XR in the Vection Technologies’ Mindesk software, a pivotal advancement of the company’s strategy around disruptive tools for design and engineering.
As the company progresses its global growth strategy, it continuously strives to develop disruptive technologies to cement a unique software suite, generating value for all stakeholders, toward wider product adoption in a fast-pacing high growth market segment.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
More reading
- Why the Vection (ASX:VR1) share price has surged 9% today
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post What happened to the Vection (ASX:VR1) share price today? appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/2MRP0qG
Leave a Reply