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Genasys Awarded Critical Infrastructure Project to Engineer, Procure and Build Emergency Warning System for 37 Dams Across the Island of Puerto Rico
Conference Call Scheduled to Discuss Details of Award SAN DIEGO, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in
About this update from Genasys Inc.
[{"type":"text","content":"Conference Call Scheduled to Discuss Details of Award\nSAN DIEGO, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in protective communications systems and solutions, today announced that it has been selected to engineer, procure and build an Emergency Warning System (EWS) for the hundreds of thousands of residents and visitors living downstream of 37 dams in Puerto Rico. The competitive award made by the Puerto Rico Electric Power Authority (PREPA) is fully funded by $94.3 million from the U.S. Federal Emergency Management Agency (FEMA). Genasys expects to recognize $60 million to $70 million in revenue over the term of the project. The Genasys ProtectTM platform enables early detection and communication of potential flood threats via sensors, predictive analytics, and the Genasys Protect software and ACOUSTICS offerings. Genasys is hosting a conference call to discuss the details of the award and the project today, Monday, February 12, 2024, at 9:00 a.m. EST/6:00 a.m. PST. Genasys’ proposal was unanimously selected by all parties, topping all criteria categories. The proposal incorporates the Genasys Protect platform, which includes proprietary software and hardware solutions, with sensors and communication equipment. Genasys CEO Richard Danforth said, “Although the competitive RFP process for this award started just last October, Genasys has been working with FEMA, PREPA, and the government of Puerto Rico since the devastating hurricane Maria in 2017. Today’s announcement represents the most comprehensive implementation of Genasys Protect for Critical Infrastructure Protection (CIP) to date and is a testament to the value of Genasys’ Protective Communications solutions.” In response to the disaster of the Guajataca dam, which required the evacuation of 70,000 residents shortly after hurricane Maria in 2017, the Puerto Rico Emergency Agency (PREMA), funded by FEMA, contracted with Genasys to design and install the first EWS on the island starting in 2018. The EWS system contemplated by this award will be installed in all the dams of the Government of Puerto Rico, which belong to PREPA, the Puerto Rico Aqueduct and Sewer Authority, and the Puerto Rico Department of Natural and Environmental Resources. José G. Baquero, FEMA’s Federal Disaster Recovery Coordinator, commented in the January 25, 2024...