International Road Dynamics Awarded $4.1 Million North Carolina Weigh Station Maintenance Contract

Rhea-AI Summary

International Road Dynamics Inc. (IRD), a subsidiary of Quarterhill Inc., has been awarded a $4.1 million contract by the North Carolina Department of Transportation (NCDOT) to maintain and service commercial motor vehicle enforcement technology at 18 locations throughout the state. The contract consolidates and expands the maintenance activities for all active systems in North Carolina into a single statewide agreement, optimizing the performance of NCDOT's Weigh-in-Motion (WIM) network and enhancing enforcement of state and federal laws.

• IRD will maintain and service commercial motor vehicle enforcement technology at 18 locations throughout North Carolina.
• Technology provided includes IRD's Tire Anomaly and Classification Systems, and weigh-in-motion e-screening systems.

SASKATOON, SK, Nov. 6, 2023 /PRNewswire/ - International Road Dynamics Inc. ("IRD"), a wholly-owned subsidiary of Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), announced today that it has been awarded a three year $4.1 million contract by North Carolina Department of Transportation ("NCDOT") to maintain, service, repair and calibrate the commercial vehicle enforcement technology located at 18 permanent and virtual truck weigh stations throughout the state. All financial information in this press release is reported in Canadian dollars.

IRD has been deploying and maintaining enforcement systems with NCDOT for more than 15 years. This new contract consolidates and expands the maintenance activities for all active systems in North Carolina into a single statewide maintenance agreement. This will enable NCDOT to optimize performance of its statewide Weigh-in-Motion ("WIM") network and enhance enforcement of state and federal laws relating to highway and commercial vehicle operations.

The technology deployed at the 18 sites will include IRD's Tire Anomaly and Classification System ("TACS") and its WIM e-screening for commercial vehicle weights and credentials. Other technologies to be provided under this service agreement include transponder bypass, license plate and DOT readers, thermal-imaging brake-detection systems, mainline and ramp screening, over-height detection, and dynamic message sign signaling and messaging.

Rish Malhotra, IRD's CEO, stated: "We are pleased to expand our relationship with NCDOT and to have been selected as their long-term service provider for all enforcement technology needs. IRD's WIM e-screening systems and our advanced TACS are recognized as best-in -class and will be key components for a successful statewide enforcement and safety program."

Chuck Myers, Quarterhill's CEO, stated: "IRD's enforcement technology is a winning solution for all parties. Consolidating maintenance and technology at their 18 facilities under one agreement will enable NCDOT and the North Carolina State Highway Patrol to enhance the efficiency and effectiveness of processing large volumes of commercial vehicles. The trucking industry realizes considerable benefits through the reduction of wait times, fuel costs, and greenhouse gas emissions. Most importantly, safety for all drivers is enhanced by removing unsafe trucks and oversized vehicles from the state's roadways."

About IRD

IRD is a dynamic technology company engaged in developing key components and advanced systems for the next generation of transportation networks. Together with subsidiaries PAT Traffic and IRD Europe (ICOMS Detections, Sensor Line and VDS), IRD supplies Intelligent Transportation Systems (ITS) to private corporations, transportation agencies, and highway authorities around the world. IRD's systems make highways safer, greener, and more efficient. Known globally as a trusted partner providing sales, service, and installation support on major ITS projects for over 40 years, IRD contributes to creating smarter cities by empowering engineering and urban planning professionals to access reliable traffic data. For more information, visit www.irdinc.com 

About Quarterhill

Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics Inc. (IRD) platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, visit www.quarterhill.com.

Forward-looking Information

This news release contains forward-looking statements regarding Quarterhill, its operating subsidiaries and their respective businesses. Forward-looking statements are based on estimates and assumptions made by Quarterhill in light of its experience and its perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that Quarterhill believes are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Quarterhill, which include, without limitation, the risks described in Quarterhill's March 22, 2023 annual information form for the year ended December 31, 2022 (the "AIF"). In addition, readers are also urged to review the additional risk factors disclosed in our Management's Discussion and Analysis for the three months ended June 30, 2023 filed on www.sedarplus.ca. Quarterhill recommends that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of Quarterhill's forward-looking statements. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View original content:https://www.prnewswire.com/news-releases/international-road-dynamics-awarded-4-1-million-north-carolina-weigh-station-maintenance-contract-301978112.html

SOURCE Quarterhill Inc.

FAQ

Who has been awarded the contract for maintaining and servicing commercial motor vehicle enforcement technology in North Carolina?

International Road Dynamics Inc. (IRD) has been awarded the contract.

What is the value of the contract?

The contract is valued at $4.1 million.

What technologies will be provided under this service agreement?

The technologies provided include IRD's Tire Anomaly and Classification System (TACS), Weigh-in-Motion (WIM) e-screening, transponder bypass, license plate and DOT readers, thermal-imaging brake-detection systems, mainline and ramp screening, over-height detection, and dynamic message sign signaling and messaging.

How long is the contract?

The contract is for a duration of three years.

What are the benefits of the contract for NCDOT and the trucking industry?

The contract enables NCDOT to enhance the efficiency and effectiveness of processing commercial vehicles, resulting in reduced wait times, fuel costs, and greenhouse gas emissions. It also improves safety by removing unsafe trucks and oversized vehicles from the state's roadways.