Cemtrex Announces Vicon End-to-End Security System Order for Next Generation Zero-Carbon Prison System in United Kingdom

Rhea-AI Summary

Cemtrex (NASDAQ: CETX, CETXP) announced a $0.8 million order for Vicon surveillance technology to be installed in a new Category C prison in the U.K. This facility will hold 1,400 prisoners and is designed to be zero-carbon, featuring an all-electric setup with solar panels and energy-efficient systems. The Vicon system includes advanced video surveillance capabilities using the Valerus Video Management System and Roughneck cameras. Cemtrex aims for a 16% revenue growth to reach $28 million this year, driven by increasing demand for cutting-edge security solutions in correctional facilities.

Positive

• Received a $0.8 million order for Vicon surveillance technology.
• The prison project supports a zero-carbon, all-electric design.
• Expected 16% revenue growth for Vicon, targeting $28 million this year.

Negative

• None.

$0.8 Million in Vicon Surveillance Equipment with Latest Smart Technologies to Better Protect Prisoners, Staff and Public

Brooklyn, NY, March 22, 2023 (GLOBE NEWSWIRE) --  Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has received a $0.8 million order through Vicon Industries for a new prison being built in the United Kingdom to install a full end-to-end system of Vicon’s surveillance products including hardware and software.

The new Category C prison, with cell space for 1,400 prisoners, has been designed to incorporate the latest smart technologies to better protect prisoners, staff and the public. It will also be the first new prison in the U.K. set to operate as zero-carbon in the future, with an all-electric design, solar panels, heat pumps and energy-efficient lighting systems.

The new system from Vicon will include state-of-the-art video surveillance security capabilities utilizing the Valerus Video Management System (VMS) and award-winning Roughneck cameras and servers. The Roughneck is a powerfully advanced, NDAA-compliant, camera lineup designed for effortless remote configuration, eliminating tedious and frustrating installations. This extensive line of vandal-resistant cameras provides models for every application, ranging from corner-mounted cameras for in-cell use and super-high resolution, hemispheric models that can capture every detail in larger spaces like mess halls and exercise yards. The order is expected to be shipped partially in the current quarter and into the following quarter. Details of the customer were not provided due to confidentiality agreements in place.

“We are delighted to garner another major enterprise, mission critical project with this full system order for Vicon’s surveillance solutions. From penitentiaries in the U.S. to the U.K., our internationally recognized brand Vicon keeps operations safe for prisoners, workers, and visitors,” said Saagar Govil, Chairman and CEO of Cemtrex. “The order also reaffirms our expectation for driving 16% revenue growth to $28 million this year for Vicon. In the U.S and internationally, corrections facilities are increasingly focusing on deploying the latest and greatest technologies and our Valerus system is an example of that. Vicon’s full-featured video management systems are engineered to streamline every aspect of the security operation. We expect to see increasing demand as the corrections industry continues to invest into their operations in newer and more efficient technology.

About Cemtrex

Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.

Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com

AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit www.ais-york.com

For more information visit www.cemtrex.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.

FAQ

What is the significance of the $0.8 million order for Cemtrex?

The $0.8 million order signifies Cemtrex's continued expansion in the security technology market, particularly in correctional facilities.

When is the Vicon surveillance system expected to be shipped?

The system is expected to be partially shipped in the current quarter and into the following quarter.

What are the key features of the Vicon surveillance products?

Key features include the Valerus Video Management System, Roughneck cameras, and capabilities for effortless remote configuration.

How many prisoners will the new U.K. prison accommodate?

The new prison will accommodate 1,400 prisoners.

What are Cemtrex's revenue growth expectations for Vicon?

Cemtrex is forecasting a 16% revenue growth for Vicon, aiming for $28 million this fiscal year.