OMNIQ’S Q SHIELD™ AI-BASED SAFE CITY SYSTEM ADDS SHOT DETECTION TECHNOLOGY

Rhea-AI Summary

OMNIQ Corp. (NASDAQ: OMQS) has partnered with EAGL Technology, Inc. to enhance its Q Shield product with Shot Detection technology. This collaboration aims to bolster public safety by providing real-time alerts for unauthorized vehicles and gunshot incidents. The integration is designed to deliver precise location data within seconds, potentially saving lives during emergencies. The technology's adoption is particularly targeted at schools, hospitals, and public spaces, reflecting a growing demand for safety solutions. OMNIQ's CEO, Shai Lustgarten, emphasized the commitment to leveraging advanced technology to create safer communities and positioning the company at the forefront of the safe city market, projected to grow significantly.

Positive

• Partnership with EAGL Technology enhances Q Shield product offerings.
• Integration of Shot Detection technology aims to improve public safety.
• Potential for increased demand from schools, hospitals, and public spaces.
• Positioning at the forefront of the growing Safe City market.

Negative

• None.

SALT LAKE CITY, April 21, 2023 (GLOBE NEWSWIRE) -- OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the Company”) a leading provider of Supply Chain and Artificial Intelligence (AI)-based solutions, announced today that it has partnered with EAGL Technology, Inc to offer Shot Detection as an add on to its Q Shield AI-Based product offering.

Shai Lustgarten, CEO of omniQ, commented “As part of our ongoing commitment to improving public safety through innovative technology solutions, we are excited to announce our partnership with EAGL. Their patented technology and recipient of the Homeland Security Platinum award for innovation five years in a row, is a powerful integration into our suite of offerings. Together, we can provide an early warning system that instantly alerts authorities to unauthorized vehicles and gunshot incidents, as well as the ability to pinpoint the location of a gunshot within seconds. This automated, seamless AI technology not only saves precious minutes in emergency situations but can also potentially save lives by eliminating guesswork in locating an incident. Our partnership with EAGL underscores our dedication to using cutting-edge technology and strategic partnerships to create safer communities. With growing demand from schools, hospitals, and other public spaces, our joint capabilities position us at the forefront of this market. As we continue to make progress on our safe city initiative, we are proud to offer the best solutions for our customers and remain committed to delivering value to our shareholders."

About OMNIQ Corp: 

OMNIQ Corp. provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, oil, gas, and chemicals.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023 and the fast casual restaurant sector expected to reach $209 billion by 2027.

For more information please visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Examples of forward-looking statements include, among others, statements made in this press release regarding the closing of the private placement and the use of proceeds received in the private placement. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Company Contact: 
Koko Kimball
385-758-9241
kkimball@omniq.com

FAQ

What is the significance of OMNIQ's partnership with EAGL Technology?

OMNIQ's partnership with EAGL Technology enhances its Q Shield product by integrating Shot Detection, which provides real-time alerts for unauthorized vehicles and gunshot incidents.

How does the Shot Detection technology work in OMNIQ's products?

The Shot Detection technology identifies the location of gunshots within seconds, allowing for swift alerts to authorities, thereby improving public safety.

What markets does OMNIQ target with its safety solutions?

OMNIQ targets several billion-dollar markets, particularly the Safe City market, which is projected to grow significantly, along with demand from educational and healthcare facilities.

What are the expected benefits of the Q Shield and Shot Detection integration?

The integration aims to save time in emergencies, potentially saving lives by eliminating guesswork in incident locations and providing authorities with precise information.