The Strategic Elements Ltd (ASX: SOR) share price was a standout performer on the market today as investors reacted to multiple patent application filings.

After jumping as much as 41.82% in morning trade, Strategic Elements shares finished 18.18% higher at 6.5 cents apiece.

Strategic Elements is an ASX-listed pooled development fund, which is a Federal Government program designed to increase investment into Australian small and medium-size enterprises by providing tax incentives.

Strategic Elements operates as a ‘venture builder’, where it generates ventures and projects from combining teams of scientists or innovators in the technology or resources sectors.

What did Strategic Elements announce?

This morning, Strategic Elements announced it has filed three patents over autonomous robotics technology being developed by one of its subsidiaries, Stealth Technologies.

Stealth Technologies is an artificial intelligence and robotics company that develops advanced solutions in autonomous driving and robotic automation.

Notably, Stealth has been collaborating with the US$100 billion industrial conglomerate Honeywell to develop an autonomous robotic security vehicle for the correctional justice sector.

According to today’s release, Stealth’s use of 3D printing technologies is enabling the rapid advancement of intellectual property and prototyping.

Two of the patent applications announced today cover low-cost solutions developed by Stealth that reportedly increase reliability and mitigate against system failures in autonomous robotic vehicles.

The third patent application covers robots designed to automate perimeter security intrusion detection systems.

Strategic Elements believes the intellectual property covered by these patents has potential commercial use in security, mining and agriculture.

About the Honeywell collaboration

Stealth Technologies’ agreement with Honeywell was announced in September 2019. It will see Stealth collaborate exclusively with Honeywell to develop and pursue opportunities for autonomous robotic vehicles for a term of 12 months.

This collaboration has led to the development of an autonomous security vehicle (ASV) for the correctional sector. The vehicle has been designed for rugged and remote environments, is fully electric, and is able to operate autonomously all day and night.

Final validation and acceptance testing for the ASV will begin in Q3 2020. Meanwhile, Stealth is investigating the potential use of the ASV in other applications.

Under the agreement with Honeywell, Stealth can market the ASV independently to sectors such as transport, energy, defence, government, and utilities.

After today’s rise, Strategic Elements has a current market capitalisation of around $19 million. If you’d rather invest in much larger and more liquid companies, check out the top ASX growth shares in the free report below.

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Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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One of the most successful investors in history has been Warren Buffett.

He has managed to beat the market over countless decades thanks to some reasonably simple investment strategies.

One of these is buying shares and holding onto them for long periods of time and only selling them if the investment thesis is broken.

The good news is that this strategy is easy to replicate and there are plenty of candidates for investors to choose from on the Australian share market. 

Two shares that I think are perfect to build your wealth with are listed below. Here’s why I think they are great buy and hold options:

Altium Limited (ASX: ALU)

Altium is the software company behind the Altium Designer platform. This is an award-winning printed circuit board design software platform which has been experiencing very strong demand thanks to the rapidly growing Internet of Things market. Unfortunately, the pandemic has disrupted its growth in FY 2020, but I’m confident this is just a short term headwind which will ease in the coming months.

In light of this and the forecast growth of the Internet of Things market, I believe Altium is well-positioned for strong long term growth. Especially given that its other businesses, such as Octopart and Nexus, also have the potential to grow strongly over the next decade. This could make it well worth taking advantage of the recent pullback in its share price to invest at more attractive price.

CSL Limited (ASX: CSL)

Another share to consider as a buy and hold option is CSL. I think the biotherapeutics giant is the highest quality company on the local share market due to its world class CSL Behring and Seqirus businesses and their portfolio of life-saving therapies and vaccines.

Another reason I’m a big fan of CSL is its high level of investment in research and development (R&D). The company consistently invests somewhere in the region of 10% of its sales into R&D activities. This has been a successful strategy which has cemented its position as an industry leader and filled its pipeline with a number of therapies that have the potential to generate billions of dollars of sales over the next decade.

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• Leading fund manager names 3 undervalued Chinese shares to buy

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Altium and CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Invest like Warren Buffett by buying and holding these ASX 200 shares appeared first on Motley Fool Australia.

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