Business
Zedcor Provides Operations Update, Highlighting Record Quarterly Growth of Fleet Size, Geographic Expansion in the U.S. and Significant Manufacturing Milestones
Calgary, Alberta--(Newsfile Corp. - January 14, 2025) - Zedcor Inc. (TSXV: ZDC) (the " Company " ...
About this update from Zedcor Inc
[{"type":"text","content":"Zedcor Provides Operations Update, Highlighting Record Quarterly Growth of Fleet Size, Geographic Expansion in the U.S. and Significant Manufacturing MilestonesCalgary, Alberta--(Newsfile Corp. - January 14, 2025) - Zedcor Inc. (TSXV: ZDC) (the \"Company\" or \"Zedcor\") is pleased to provide a year-end operations update, demonstrating continued execution on growth of fleet size, ongoing U.S. expansion, and progress on manufacturing activities. Specifically, the Company highlights:MobileyeZ™ tower fleet hit 1,333 at year-end 2024, a record quarterly expansion of 182 units from the end of the third quarter 2024, with greater than 80% of new units allocated to U.S. operationsExpanded to Atlanta in Q4 2024, while expansion in other US regions continues to progress with improved presence in Houston, Dallas, San Antonio and Austin, as well as Denver, and PhoenixCurrently at 97% utilization in the U.S., with sustained strong utilization in Canada over 90%, as the Company remains focused on highly profitable growthManufacturing capabilities have improved markedly, averaging more than 15 units per week in Q4 and the Company has the ability to manufacture 100 towers per month in Q1 2025 Zedcor's fleet size expanded significantly in Q4 2024, exiting December at 1,333, representing 62% growth year-over-year. This growth was driven by strong, sustained demand in both Canada and the U.S., while pent-up demand from its diversified customer base in the U.S. accounted for more than 80% of the tower fleet in Q4 2024. Zedcor's U.S. expansion continues to advance, as growth has accelerated in Texas with 100 towers fulfilled in Q4 2024 from its operations in Houston, Dallas, San Antonio and Austin. Additionally, after entering Denver in Q2 2024, 45 units were fulfilled in the Q4 2024, while the Company also recorded its first tower sales in Phoenix and Las Vegas during the quarter. The expansion continued into Atlanta and planning has commenced to enter major metros in Florida in 2025. Manufacturing capabilities improved significantly during the quarter, averaging more than 15 units per week in Q4 2024, with the capability to manufacture 100 towers per month in Q1 2025. This will provide the Company with the ability to add its targeted 1,200 new units into the fleet by the end of 2025. Zedcor has expanded the manufacturing operations in Hous...