Business
Zedcor Provides Operations Update and Announces Release Date for 2024 Second Quarter Results
Calgary, Alberta--(Newsfile Corp. - July 23, 2024) - Zedcor Inc. (TSXV: ZDC) ("Zedcor" or the "Co...
About this update from Zedcor Inc
[{"type":"text","content":"\nZedcor Provides Operations Update and Announces Release Date for 2024 Second Quarter ResultsCalgary, Alberta--(Newsfile Corp. - July 23, 2024) - Zedcor Inc. (TSXV: ZDC) (\"Zedcor\" or the \"Company\") is pleased to provide a mid-year operations update, demonstrating continued execution from its ongoing U.S. expansion, manufacturing activities, and Canadian operations. Specifically, the Company is reporting:U.S. expansion in Colorado is well underway to complement the Company's operations across Texas;MobileyeZ™ tower fleet now exceeds 1,000 currently deployed, with approximately 15% of the fleet in the U.S.Zedcor's U.S. expansion continues to advance, as it has established operations across major cities in Texas and can service the entire state, with operations in Houston, Dallas, San Antonio and Austin. Additionally, the Company has opened an equipment center in Denver, Colorado, and is planning on expanding to Phoenix, Arizona in Q1 2025. The Company's business model ensures optimal efficiency and customer service standards and has been paramount to the adoption of its solutions and retention of its customers. This established U.S. platform now has the capacity to service markets throughout the Midwest, evidenced by a three-year contract to provide three MobileyeZ™ security towers in Wisconsin to a Canadian client with cross-border projects. Zedcor continues to expand in the residential home building market, with MobileyeZ™ deployed for the top three home builders in the U.S., and specifically, the Company has deployed over 80 MobileyeZ™ to the country's largest residential construction company. Additionally, the Company has expanded its fleet deployment with the country's largest online retailer and home building retailer. On the manufacturing front, Zedcor's year-to-date MobileyeZ™ tower build exceeds 120 units, bringing the total MobileyeZ™ fleet to more than 1,000 towers, with approximately 15% of the fleet deployed in the U.S. With a fully staffed manufacturing team, the Company is working to ramp manufacturing capacity from 15-20 towers per week currently, to 20-25 towers per week by the end of Q3 2024. The 2024 edition of MobileyeZ™ towers are fully weather tested and can withstand winds upwards of 100mph. Notably, no towers experienced weather-related damage despite tw...