IRD Awarded $2.2 Million Weigh-In-Motion Contract From State of Idaho

Rhea-AI Summary

International Road Dynamics (IRD), a subsidiary of Quarterhill (QTRHF), has secured a $2.2 million contract from the Idaho Transportation Department to implement a Weigh-In-Motion and Electronic Pre-Clearance system at the Declo Port of Entry. This new system aims to enhance safety and efficiency, allowing compliant vehicles to bypass weigh stations, thereby reducing congestion and greenhouse gas emissions. The integration of advanced technologies will help identify high-risk vehicles and contribute to improved road safety.

Positive

• Awarded a $2.2 million contract for weigh-in-motion technology, enhancing revenue opportunities.
• Improves efficiency at the Declo port, reducing vehicle waiting times and enhancing compliance.
• Contributes to environmental goals by decreasing greenhouse gas emissions.

Negative

• None.

• Contract expands on IRD's existing relationship with the State of Idaho, adding to a statewide network of automated weigh stations
• The new system at the Declo port of entry will increase safety, improve commercial vehicle screening efficiency, and reduce greenhouse gas emissions

SASKATOON, SK, Sept. 21, 2021 /PRNewswire/ - International Road Dynamics Inc. ("IRD" or the "Company"), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH) (NASDAQ: QTRH) announces that it has been awarded a $2.2 million contract to supply and install a mainline Weigh-In-Motion ("WIM") and Electronic Pre-Clearance system for the Idaho Transportation Department ("ITD"). The new system will be located on I-84 Westbound at the Declo Port of Entry in Cassia County, southern Idaho. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

During peak times, weigh stations often exceed capacity and are forced to close or allow commercial vehicles to bypass the weigh station without inspection until the backlog of trucks has cleared. By automatically pre-screening vehicles for weight, credentials, and safety information prior to their arrival at the weigh station, IRD's WIM system will allow inspectors to focus their efforts on high-risk vehicles, allowing compliant carriers to bypass the weigh station. Not only does this greatly improve the efficiency of the weigh station, it also provides a considerable benefit to the trucking industry by reducing congestion at weigh stations. Reducing queues and idling reduces fuel costs for the transport companies and helps the State meet environmental objectives by reducing greenhouse gas ("GHG") emissions.

IRD's Single Load Cell WIM scales were selected for this project as they offer unmatched durability and highly accurate weighing of vehicles at highway speeds. License Plate Reader and Automated Vehicle Identification systems will be integrated with IRD's Intelligent Roadside Operations Computer to screen vehicles' credentials and safety statuses against State and Federal databases. The project will also deploy IRD's TACS™ (Tire Anomaly and Classification System) for tire safety screening to ensure trucks with unsafe tire conditions – such as flat, missing, mismatched or underinflated tires – are removed from service until their tire problems are corrected.

"In addition to improving road safety and protecting roads from damage by overloaded commercial vehicles, this project will improve efficiency and enable ITD to resolve peak time congestion at the port of entry," said Rish Malhotra, IRD President and CEO. "The Declo pre-clearance system will complement the other IRD supplied systems in Idaho and expand the coverage of the State's network of fully automated weight enforcement facilities. Based on our experience with other TACS implementations, we expect ITD will also identify significantly more vehicles at this site with serious tire safety issues that warrant out-of-service penalties thereby reducing GHG emissions in addition to increasing safety and improving efficiency."

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, ICOMS Detections, SensorLine 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: www.irdinc.com

About Quarterhill
Quarterhill is a growth-oriented company in the Intelligent Transportation System (ITS) industry as well as a leader in Intellectual Property licensing. Our goal is to execute an investment strategy that capitalizes on attractive growth opportunities within ITS – and its adjacent markets – to become a global leader in that industry. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com 

Forward-Looking Information
This news release contains forward-looking statements regarding IRD, Quarterhill and their businesses. Forward-looking statements are based on estimates and assumptions made by IRD and/or Quarterhill in light of their experience and perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that IRD and/or Quarterhill believe 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 IRD and/or Quarterhill, including: potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus ("COVID-19"); the severity of the disease; the duration of the COVID-19 outbreak; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and financial markets and any resulting impact on IRD and/or Quarterhill and/or their businesses. Other factors include, without limitation, the risks described in Quarterhill's March 11, 2021 annual information form for the year ended December 31, 2020 (the "AIF"). Copies of the AIF may be obtained at www.sedar.com. IRD and Quarterhill recommend that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of IRD's forward-looking statements. IRD 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/ird-awarded-2-2-million-weigh-in-motion-contract-from-state-of-idaho-301380913.html

SOURCE International Road Dynamics

FAQ

What is the contract awarded to IRD by the Idaho Transportation Department?

IRD has been awarded a $2.2 million contract to supply a Weigh-In-Motion and Electronic Pre-Clearance system at the Declo Port of Entry.

How will the new system at the Declo port improve vehicle inspection?

The system will enable automatic pre-screening of vehicles, allowing inspectors to focus on high-risk vehicles and improving overall inspection efficiency.

What benefits does the $2.2 million contract offer to the trucking industry?

It reduces congestion and waiting times at weigh stations, thus lowering fuel costs and improving operational efficiency for transport companies.

How does the new system contribute to environmental objectives?

By reducing congestion and idling times for trucks, the system helps decrease greenhouse gas emissions.