Iteris Selected to Support Intelligent Transportation Systems Project in Metro Cebu, Philippines
Iteris (NASDAQ: ITI) has been selected for a U.S. Trade and Development Agency (USTDA)-funded project to enhance transportation systems in Metro Cebu, Philippines.
The project aims to develop an Intelligent Transportation System (ITS) master plan for Cebu City and 12 other local government units, addressing traffic congestion, delays, and unsafe conditions.
Iteris will lead ITS activities, including assessing current conditions, recommending ITS technologies, reviewing U.S. technology suppliers, and creating the master plan.
The initiative aims to improve traffic management, reduce emissions, enhance road safety, and optimize cargo and passenger movements.
- Iteris has secured a significant role in a USTDA-funded project, highlighting its expertise and reliability in ITS.
- The project targets a rapidly growing region, potentially leading to further opportunities for Iteris.
- The initiative's goals align with global trends towards smarter and more efficient urban transportation solutions.
- Participation in an international project can enhance Iteris' global reputation and market reach.
- The project's success depends on multiple stakeholders, leading to potential coordination challenges.
- Revenue from this project may take time to materialize, affecting short-term financial performance.
- Initial costs and resource allocation for the project may strain Iteris' operational resources.
This United States Trade and Development Agency (USTDA)-funded technical assistance aims to improve public mobility through the application of new technologies
Iteris Selected to Support Intelligent Transportation Systems Project in Metro Cebu,
This technical assistance activity is provided by USTDA to the grantee, Philippines’ Department of Transportation (“DOTr”). The project involves developing an ITS master plan for the rapidly growing Cebu City and 12 surrounding local government units. Because of their large population and quick growth, the region is facing considerable challenges related to transportation infrastructure, causing congestion, delays, and unsafe traffic conditions.
The project aims to identify ITS solutions that can improve traffic management, reduce vehicle emissions, enhance road safety, and advance efficiencies in intra/inter Metro Cebu cargo and passenger movements.
Iteris is a subconsultant to Nathan Associates, LLC, a trusted global partner for providing analytic and economic solutions worldwide. Iteris will lead the ITS activities, including assessment of current conditions, development of ITS technology recommendations, review of potential technology suppliers in the
“We’re happy to have been selected to be part of this international initiative, which is another recognition of our team’s expertise in modernizing transportation infrastructures,” said Dr. Moe Zarean, general manager of mobility operations services at Iteris. “This project will be critical to improving mobility in Metro Cebu at an essential time of growth, and we’re excited to work closely with all stakeholders to make it a success.”
About Iteris, Inc.
Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility® Platform, our AI-powered end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," “feels,” "anticipates," "expects," "intends," "plans," "seeks," "estimates,” "may," “could,” “should,” “will,” "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the project and impacts and benefits of our consultant services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to provide our services in a cost-efficient manner; government funding and budgetary delays, issues and timing; adverse impacts related to performance timing and cancellation of a project; and the impact of general economic, political and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
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Media Contact
Breanna Wallace
Tel: (949) 996-5348
Email: brwallace@iteris.com
Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
Email: todd@mkrir.com
Source: Iteris, Inc.
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