Respected ITS Industry Veteran to Drive Channel Expansion in North America and Global Markets
COLUMBIA, MD / ACCESSWIRE / September 3, 2024 / Rekor Systems, Inc. (NASDAQ:REKR), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced the appointment of Rish Malhotra as Executive Vice President of Global Strategic Growth. With over 20 years of international management experience in the Intelligent Transportation Solutions (ITS) sector, Mr. Malhotra will drive Rekor's strategic growth initiatives, opening new routes to market for its AI-powered transportation and traffic solutions. His leadership will be pivotal in expanding market opportunities, enhancing operational efficiencies, and accelerating growth through strategic industry partnerships and channels.
"We are excited to welcome Rish Malhotra to the Rekor leadership team," said David Desharnais, President and CEO of Rekor Systems. "Rish brings a wealth of experience in the ITS industry that will be invaluable as we help our customers and partners transition from traditional traffic management and data collection methods to cutting-edge, AI-powered solutions. As the ITS sector continues its ongoing shift towards digital infrastructure in roadway systems, his recognized expertise will be instrumental in accelerating our growth and solidifying our leadership in roadway intelligence. Rish's proven track record in driving technological innovation aligns perfectly with our vision for the future as we harness the transformative potential of AI and machine learning across the transportation management and urban mobility sectors."
Mr. Malhotra's distinguished career includes his role as President & CEO of International Road Dynamics Inc., where he successfully led the international deployment of innovative technologies and safe, sustainable solutions in the ITS sector. As a Professional Engineer with extensive management experience and board positions with ITS Canada and the International Society for Weigh-in-Motion, Mr. Malhotra brings deep industry expertise and leadership to Rekor's senior management team, making him an invaluable asset in accelerating the Company's growth and achieving its long-term strategic vision.
"I am thrilled to join Rekor at such a pivotal time in the Company's growth," said Malhotra. "Rekor has established itself with leading technology and a commitment to delivering exceptional solutions, driving proven value for its customers and stakeholders in the Transportation Management and Urban Mobility sectors. We now have an incredible opportunity to expand our market presence, enhance operational efficiencies, and accelerate growth through new strategic industry partnerships and channels-positioning Rekor to lead the industry on a global scale. I look forward to working with the talented Rekor team to deliver innovative solutions, unlock the full potential of digital infrastructure, and set a new benchmark in transportation technology with our advanced AI-powered roadway intelligence solutions."
Rekor's solutions are leading a major transformation in the digitization of transportation and roadway infrastructure. The traffic management and data collection methods in use today rely almost exclusively on outdated technologies, such as pneumatic tubes, basic radar systems, induction loops, and embedded piezo sensors-technologies that were once cutting-edge but have long passed their prime. In his role, Mr. Malhotra will help drive market expansion efforts for this unprecedented technology refresh opportunity across North America and globally, accelerating the transportation industry's shift towards a modern, AI-powered approach.
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 This press release and its links and attachments contain statements concerning Rekor Systems, Inc. and its future expectations, plans, and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for the Company's products and services. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risk that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.
Media & Investor Relations Contact: Rekor Systems, Inc. Charles Degliomini ir@rekor.ai
