Robotic Assistance Devices Receives 10 Unit Order from St. Moritz Security Services

Rhea-AI Summary

Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) announced a new order for ten ROSA180 security units from St. Moritz Security Services, bringing the total to sixteen units ordered within months. The ROSA180, a compact AI-driven security solution, will be deployed across three of St. Moritz’s clients, including a retail center and property management group. St. Moritz achieved over $110 million in annual revenue in 2020, making it one of the largest security companies in the U.S., and the partnership indicates potential for future collaboration and growth.

Positive

• New order for ten ROSA180 units confirms demand for AITX's products.
• St. Moritz's previous orders indicate strong customer satisfaction and confidence in RAD solutions.
• St. Moritz's significant annual revenue of $110 million highlights the potential scale of partnerships.

Negative

• Specific financial terms of the purchase agreement were not disclosed.

Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), which provides AI-driven security and productivity solutions for enterprise clients, today announced that its wholly-owned subsidiary Robotic Assistance Devices Inc. (RAD) has received a 10-unit order from recently signed authorized dealer, St. Moritz Security Services, Inc.

“This order brings the total units we’ve ordered from RAD in just a few months to sixteen,” said Matthew Schwartz, CEO at St. Moritz. “It’s apparent that bringing RAD on as a solution provider was a great decision for us and our clients,” Schwartz concluded.

Specifics of the purchase agreement were not disclosed, but the company confirmed that all ten units ordered are ROSA180 devices. The 10 ROSA180s are scheduled to be deployed at 3 of St. Moritz’ clients, a property management group, a high-end retail center, and a group of cemetery locations in the Midwest.

“Back in April, we anticipated that we’d see great results through this relationship with St. Moritz,” said Jordan Lippel, VP Security Solutions of RAD. “All indications are that this is just the tip of the iceberg, and there’s much more ahead.”

St. Moritz achieved over $110 million in annual revenue in 2020 which ranks them as one of the largest American-owned security companies in the U.S. and in the top 2% of all security companies worldwide. St. Moritz has thirty offices nationwide, and covers the entire U.S. and Canada.

ROSA180 is a compact, self-contained, security and communication solution that can be deployed in about 15 minutes. Like other RAD solutions, it only requires power as it includes all necessary communications hardware. ROSA180’s AI-driven security analytics include human and vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and response library. Two-way communication is optimized for cellular, including live video from ROSA180’s dual high-resolution, full-color, always-on cameras.

Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all of design elements, performance, quality and the user’s experience of all security robots whether SCOT™, ROSA180™, Wally™, Wally HSO™, AVA™, or ROAMEO™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto.

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.

About Artificial Intelligence Technology Solutions (AITX)

AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD and RAD-M companies help organizations streamline operations, increase ROI and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visit www.aitx.ai and www.roboticassistancedevices.com, or follow Steve Reinharz on Twitter @SteveReinharz.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210802005228/en/

FAQ

What is the latest order AITX received for its ROSA180 units?

AITX received a new order for ten ROSA180 units from St. Moritz Security Services.

How many ROSA180 units has St. Moritz ordered from AITX in total?

St. Moritz has ordered a total of sixteen ROSA180 units from AITX.

What types of clients will receive the ROSA180 devices?

The ROSA180 devices are scheduled to be deployed at a property management group, a high-end retail center, and cemetery locations.

How much revenue did St. Moritz generate in 2020?

St. Moritz achieved over $110 million in annual revenue in 2020.

What are the features of the ROSA180 device?

The ROSA180 includes AI-driven security analytics, human and vehicle detection, license plate recognition, and dual high-resolution cameras.