Business
Maris-Tech Secures a $700,000 Order from a Repeat Customer in the Defense Industry for Innovative AI-Based Video Distribution Solution
The customized high-end system will be designed for integration on armored vehicles Rehovot, Israel, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Maris-Tech Ltd.
About this update from Maris-tech Ltd.
[{"type":"text","content":"The customized high-end system will be designed for integration on armored vehicles Rehovot, Israel, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (\"Maris-Tech\" or the \"Company\"), a leading B2B provider of edge computing artificial intelligence (AI) accelerated video solutions for edge platforms, today announced that it received a significant order in the amount of $700,000 from a valued repeat customer for the development and production of a new system with AI-enabled video distribution capabilities, specially designed for armored vehicles. The unique solution is a high-end video system that enhances the driving and control capabilities of armored vehicles. The order is expected to be delivered in tranches during 2024 to 2027. “We are thrilled to collaborate once again with our esteemed customer on this unique video solution tailored for the defense industry to enhance the safety and efficiency of armored vehicles. This significant order underscores our commitment and success in developing cutting-edge AI-enabled video solutions that support the critical needs of new and existing customers” said Israel Bar, Chief Executive Officer of Maris-Tech. About Maris-Tech Ltd. Maris-Tech is a global leader in video streaming and AI technology, founded by veterans of the Israeli technology sector with extensive electrical engineering and imaging experience. Our products are designed to meet the growing demands of commercial and tactical applications, delivering high-performance, compact, low power and low latency solutions to companies worldwide, including leading electro-optical payload, RF datalink and unmanned platform manufacturers as well as defense, HLS, and communication companies. For more information, visit https://www.maris-tech.com. Forward-Looking Statement Disclaimer This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect”,” “may”, “should,” “could,” “seek,” “i...