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Quarterhill Announces $40 Million Renewal Contract to Upgrade Alameda County Transportation Commission (Alameda CTC) I-580 Express Lanes
Quarterhill Announces $40 Million Renewal Contract to Upgrade Alameda County Transportation Commi...
About this update from Quarterhill Inc
[{"type":"text","content":"\n\n\n\n Quarterhill Announces $40 Million Renewal Contract to Upgrade Alameda County Transportation Commission (Alameda CTC) I-580 Express Lanes\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n Alameda CTC's fully electronic express lanes increase the efficiency of the I-580 and I-680 corridors by giving drivers the option to bypass congested traffic segments under certain conditions.\n \n\n\n\n Upgrading the I-580 system will create a single, unified platform for Alameda CTC and solidify Quarterhill as its sole Express Lane vendor through 2032.\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Jan. 6, 2025\n \n\n /CNW/ - Quarterhill Inc. (\"Quarterhill\" or the \"Company\") (TSX: QTRH) (OTCQX: QTRHF), a global leader in providing intelligent transportation system solutions, announced today that has been awarded a contract valued at\n \n $40 million\n \n to upgrade the Alameda County Transportation Commission (\"Alameda CTC\") I-580 Express Lanes. The project will be implemented over 17 months and includes seven (7) years of operations and maintenance. The contract provides Alameda CTC with the option to procure up to four (4) additional years of operations and maintenance at an additional cost of\n \n $15 million\n \n . All financial information in this press release is reported in U.S. dollars.\n \n\n The Alameda CTC I-580 express lanes are specially designated highway lanes designed to improve travel times and alleviate traffic congestion across Alameda County. These lanes enable a more reliable traveling experience for commuters and travelers in the county by providing an option to bypass congested traffic segments under certain conditions. Express lanes help in managing and mitigating traffic congestion, directly benefiting not just the users of these lanes but also potentially improving conditions in the general-purpose lanes. The I-580 Express Lanes span approximately 10 miles from Hacienda Drive in Pleasanton to Greenville Road in Livermore in the eastbound direction and approximately 12 miles from Greenville Road to just befor...