Business
Rekor Awarded $14,145,000 in New Multiyear Contracts for State-Wide Traffic Count and Classification Studies for South Carolina and Florida DOTs
COLUMBIA, MD / ACCESSWIRE / April 19, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) (the "Company"), a global AI technology company, a leader in providing the
About this update from Rekor Systems, Inc.
[{"type":"text","content":"COLUMBIA, MD / ACCESSWIRE / April 19, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) (the \"Company\"), a global AI technology company, a leader in providing the intelligent infrastructure solutions that are making the world's roadways safer, greener and more efficient, today announced that the Company has been selected as a preferred vendor for both the South Carolina Department of Transportation (\"SCDOT\") and the Florida Department of Transportation (\"FDOT\"). The Company will provide its Class, Count & Speed Application as part of the Rekor Discover™ platform along with its non-intrusive Rekor Edge Flex™ traffic data collection systems to gather traffic data throughout both states. SCDOT and FDOT awarded Rekor these contracts after a rigorous evaluation of the proposals submitted. The combined total contract value is $14,145,000, over terms of four and six years, for SCDOT and FDOT, respectively.The Company's AI-driven traffic data collection systems are non-intrusive. They can be deployed quickly and easily on the side of the road without requiring workers to enter unsafe conditions, cut into the pavement, or disrupt traffic. Each system contains a proprietary embedded IoT Edge Processing Unit that processes multiple high-resolution video streams in real-time to generate secure, high-quality, holistic traffic insights. The data produced on the device include per-vehicle records (PVR) for vehicle classifications based on the Federal Highway Administration 13 bin standards (\"FHWA-13\"), as well as overall vehicle volumes and speeds and can be efficiently distributed through the Discover™ platform.\"We're proud to be able to announce major deployments with both SCDOT and FDOT at this time,\" said Michael Dunbar, CRO, Rekor. \"Our Rekor Edge systems provide a safe and efficient way to gather the necessary data for traffic studies on South Carolina's and Florida's roads without disrupting drivers or unduly placing workers in harm's way.\"\"Our IoT Edge devices are continuously operational and constantly learning using our advanced AI and machine learning technologies. They seamlessly integrate with existing analog roadways and work together to create a cohesive digital infrastructure network. This is an important step in laying the groundwork for a digital roadway operating system,\" explained Robert Berman, Chair and CEO Rekor. \"...