Bilbao, October 5, 2023.- Virtualware (EPA: MLVIR), the European leader in the virtual reality industry, will participate in the NATO CA2X2 (Computer Assisted Analysis, Exercise, Experimentation) Forum to present how the Spanish Military Health School is improving medical training with virtual and mixed reality.
The forum is organized by the NATO Modeling and Simulation Group (NMSG) Center of Excellence (COE) is taking place in Rome, Italy, from 3 to 5 October 2023. It is an annual event that brings together military users, industry, and academia to discuss M&S topics such as M&S discipline, exercises, experimentation, wargaming, analysis, standards, and interoperability.
In particular, the commercial sector is developing key technologies and applications that have the potential for cost-effective adaptation for defense exploitation and use in M&S applications such as defense planning, training, operations, and capabilities development.
Recognizing the importance of (low-cost) commercial technologies and addressing their use, NMSG embedded the 18th Workshop on Commercial Technologies and Games for NATO and Nation Use in the Forum, aiming to develop a common understanding of issues and opportunities.
Virtualware will participate in the XR military training and operational planning session together with CAE and CENTRIC (Centre of Excellence in Terrorism, Resilience, Intelligence and Organized Crime Research). Maria Madarieta, Virtualware’s R&D Director will show the potential of Virtual Reality and Mixed Reality to accelerate Innovation with the Spanish Ministry of Defense as a best practice by using the VR enterprise platform VIROO.
Having already presented at the last NATO MSG Symposium and at I/ITSEC 2022, she will give an update on the results and the future of this initiative that is revolutionizing the defense industry.
Virtualware’s flagship product VIROO is the world’s pioneering VR as a Service (VRaaS) platform, makes Virtual Reality accessible to companies and institutions of all sizes and sectors. It is an all-in-one digital solution that enables the development and deployment of multi-user Virtual Reality applications remotely.
VIROO is already used by more than 40 companies and institutions worldwide including GE Hitachi Nuclear Energy, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, University of El Salvador and EAN University. The enterprise VR platform has been the backbone to develop strategic projects for defense ministries, critical infrastructure training projects, and innovative educational programs.
Virtualware is a global pioneer in developing Virtual Reality solutions for major industrial, educational, and healthcare conglomerates. Since its founding in 2004, the company has garnered widespread recognition for its accomplishments.
In 2021, Virtualware was acknowledged as the world’s most Innovative VR Company.
It is based in Bilbao, Spain, and has offices in Hamilton, Ontario, Canada.
The company went public on Euronext Access Paris in April 2023, where its stock currently trades at 8,50 euros a share.
FORWARD LOOKING STATEMENTS
This document is only provided for information purposes and does not constitute, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by any of the aforementioned companies. Any decision to buy or invest in securities in relation to a specific issue must be made solely and exclusively on the basis of the information set out in the pertinent prospectus filed by the company in relation to such specific issue. No one who becomes aware of the information contained in this report should regard it as definitive, because it is subject to changes and modifications.
This document contains or may contain forward-looking statements regarding intentions, expectations or projections of Virtualware 2007, S.A. (“Virtualware” or the “Company”) or of its management on the date thereof, that refer to or incorporate various assumptions and projections, including projections about the future earnings of the business. The statements contained herein are based on our current projections, but the actual results may be substantially modified in the future by various risks and other factors that may cause the results or final decisions to differ from such intentions, projections or estimates. These factors include, without limitation, (1) the market situation, macroeconomic factors, regulatory, political or government guidelines, (2) domestic and international stock market movements, exchange rates and interest rates, (3) competitive pressures, (4) technological changes, (5) alterations in the financial situation, creditworthiness or solvency of our customers, debtors or counterparts. These factors could cause or result in actual events differing from the information and intentions stated, projected or forecast in this document or in other past or future documents. Virtualware does not undertake to publicly revise the contents of this or any other document, either if the events are not as described herein, or if such events lead to changes in the information contained in this document. This disclaimer needs to be taken into account by those persons which may take a decision over the base of this document or to elaborate or disseminate opinions based hereof. This document may contain summarised information or information that has not been audited. This document is confidential and it cannot be revealed or disclosed to third parties different from the original recipients, even partially, without Virtualware’s prior consent.
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. TheTechOutlook.com takes no editorial responsibility for the same.
