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Duos Technologies Awarded Multi-Year Contract with CN
JACKSONVILLE, FL / ACCESSWIRE / October 7, 2020 / Duos Technologies Group, Inc. ("Duos or the "Company") (NASDAQ:DUOT), through its operating subsidiary Duos
About this update from Duos Technologies Group, Inc.
[{"type":"text","content":"JACKSONVILLE, FL / ACCESSWIRE / October 7, 2020 / Duos Technologies Group, Inc. (\"Duos or the \"Company\") (NASDAQ:DUOT), through its operating subsidiary Duos Technologies, Inc., has been awarded a new contract from existing customer CN (CNR) (CNI) (\"CN\" or \"the railroad\"), a world-class transportation leader and trade-enabler. The agreement, which is effective immediately, includes complete North American service, support, maintenance and spare components sourcing for the seven (7) Railcar Inspection Portals (rip®) currently in operation at CN. The total contract will be recognized as recurring revenue through 2022.Under the terms of the agreement, Duos' rip® system will identify specific railcar inspection points, which are monitored and addressed using artificial intelligence (AI) applications being developed by the railroad and integrated into the Duos centraco® platform.\"Continued service and maintenance of our systems is critical to our partnership and success with CN as we further develop, deploy and integrate our solutions into their North American operating environment,\" said Chuck Ferry, Chief Executive Officer for Duos Technologies. \"This investment will dramatically impact the overall productivity and uptime for the railroad's solutions, and we greatly appreciate our continued relationship and CN's trust in Duos to deliver cutting-edge solutions.\"About Duos Technologies Group, Inc.Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiary, Duos Technologies, Inc., provides advanced, analytical technology solutions with a strong portfolio of intellectual property. The Company's core competencies include intelligent technologies that combine machine learning, artificial intelligence and advanced video analytics that are delivered through its proprietary integrated enterprise command and control centraco® platform. The Company provides its broad range of technology solutions with an emphasis on mission critical security, inspection and operations within the rail transportation, retail, petrochemical, government, and banking sectors. Duos Technologies also offers professional and consulting services for large data centers. For more information, visit www.duostech.com.About CNCN is a world-class transportation leader and trade-enabler. Essential to the econo...