Up to $15 Million In Combined Multi-Year Contracts for Traffic Data and Air Quality Studies
COLUMBIA, MD / ACCESSWIRE / August 12, 2024 / Rekor Systems, Inc. (NASDAQ:REKR), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced that it has secured significant contracts with the Texas Department of Transportation (TxDOT), the Ohio Department of Transportation (OhioDOT), and Pitkin County, Colorado for comprehensive traffic studies. These multi-year agreements, valued at up to $15 million, signal Rekor's continued westward expansion across the United States and underscores the growing adoption by state and local transportation agencies of Rekor's traffic services, including AI-based vehicle classification, vehicle counting, and speed detection (CCS), as well as air quality studies using the CCS and Vehicle Insite applications within Rekor Discover™.
Rekor has decades of roadside experience and expertise in conducting comprehensive traffic studies for state Departments of Transportation and commercial entities. With over 30,000 data collection sites and hundreds of thousands of miles of roadways already under management, Rekor blends advanced AI-driven technology with traditional traffic monitoring technologies to deliver comprehensive and reliable traffic data and studies. The Company's existing customer base consists predominantly of transportation agencies for states, cities, counties, and municipalities, primarily in the Southeast. Rekor now holds statewide contracts in Texas and Ohio and a countywide contract for Pitkin County, Colorado. The Company's westward expansion adds significant new miles of roadways and bridges, further scaling operations and enhancing traffic data collection capabilities in these regions.
Key highlights of the expansion include:
Texas Department of Transportation (TxDOT): Management, installation, repair, and transition of existing permanent traffic data collection sites to AI across Texas with the Rekor Discover™ platform. Rekor's work will continue to support TxDOT's dedication to connecting communities, enhancing the quality of life for Texans, and fostering economic development through transportation infrastructure.
Ohio Department of Transportation (OhioDOT): Management, installation, repair, and transition of existing permanent traffic data collection sites to AI across Ohio with the Rekor Discover™ platform. Managing these sites is critical in OhioDOT's mission to provide safe and easy movement of people and goods from place to place, improving the quality of life for Ohio residents.
Pitkin County Office of Public Works, Colorado: Pitkin County's transportation network includes the city of Aspen, serving residents and the millions of tourists visiting the area and traveling the region's roadways each year. Rekor's non-intrusive Edge Series systems and the groundbreaking traffic analytics platform, Rekor Discover™, were chosen by Pitkin County for deployment across the county. With the deployment of Rekor's technology, Pitkin County will receive highly accurate and automated vehicle classifications, counts, and speed, in addition to air quality and other roadway insights. These key insights are critical for Pitkin County to understand in its pursuit of better roadway planning, maintenance, and sustainability.
"We are excited to welcome TxDOT, OhioDOT, and Colorado's Pitkin County as new customers in our westward expansion across the US," said David Desharnais, President and CEO of Rekor. "These multi-year contracts underscore Rekor's position as the leader in roadway intelligence and provide another example of the progression of what we believe is an era of massive technology refresh for the industry. We appreciate the deep trust that transportation agencies have placed in us. Our AI-driven traffic monitoring solutions offer advanced, comprehensive, and precise vehicle and roadway analytics, ensuring these agencies are well-equipped to meet the ever-growing transportation challenges of today and the future."
About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ:REKR) is a leader in developing and implementing state-of-the-art roadway intelligence systems using AI-enabled computer vision and machine learning. As a pioneer in the implementation of digital infrastructure, Rekor is collecting, connecting, and organizing the world's mobility data - laying the foundation for a digitally-enabled operating system for the roadway. With our Rekor One® Roadway Intelligence Engine at the core of our technology, we aggregate and transform trillions of data points into intelligence through proprietary computer vision, machine learning, and big data analytics that power our platforms and applications. Our solutions provide actionable insights that give governments and businesses a comprehensive picture of roadways while providing a collaborative environment that drives the world to be safer, greener, and more efficient. To learn more, please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, X (formerly Twitter), Threads, and Facebook.
Forward-Looking Statements
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Media & Investor Relations Contact:
Rekor Systems, Inc. Charles Degliomini ir@rekor.ai
