IRD Awarded Fifth Electronic Screening and Enforcement System in Oklahoma

Rhea-AI Summary

International Road Dynamics (IRD), a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), has secured a contract with the Oklahoma Department of Transportation (ODOT) for the installation of a new Electronic Screening System (ESS) at the Bryan County Northbound Port-of-Entry Weigh Station. This system, incorporating advanced Weigh-In-Motion technology and a five-year maintenance agreement, aims to enhance vehicle screening efficiency and road safety. The project is set to commence in Q2 2022, building on prior deployments of IRD's systems in Oklahoma.

Positive

• Contract with ODOT emphasizes IRD's leadership in commercial vehicle screening.
• Installation of advanced Electronic Screening System expected to boost road safety.
• Five-year maintenance agreement assures ongoing revenue stream.

Negative

• None.

• Oklahoma Department of Transportation (ODOT) invests in IRD's automated weigh station and e-screening systems, including a 5-year maintenance agreement
• Contract underlines IRD's position as a leader in supplying statewide commercial vehicle screening and enforcement systems

SASKATOON, SK, Aug. 19, 2021 /PRNewswire/ - International Road Dynamics Inc. ("IRD" or the "Company"), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH) (OTCQX: QTRH), announced today that the Oklahoma Department of Transportation (ODOT) has authorized IRD to move forward with the installation of an Electronic Screening System (ESS) for the Bryan County Northbound Port-of-Entry Weigh Station. The financial terms of the contract are confidential.

The ESS will include IRD's turnkey Weigh-In-Motion (WIM) system and its Tire Anomaly and Classification System (TACS) fully integrated with the Port-of-Entry weigh station's static scale, variable message signs and CCTV systems. The project is expected to commence in the second quarter of 2022, and once implemented, IRD will maintain the system for a five-year period.

IRD's turnkey WIM Systems use Automated License Plate Readers (ALPR), Automated USDOT Number Readers (UNR), and Vehicle Overview Cameras to detect and screen commercial vehicles, in real-time, for size, weight, and safety. IRD's ESS uses an Intelligent Roadside Operations Computer (iROC) for Electronic Screening and interfaces with Oklahoma's State Commercial Vehicle Information Exchange Window (CVIEW) and Federal Motor Carrier Safety Administration (FMCSA) Safety and Fitness Electronic Records (SAFER). This inter-connectivity provides better data collection to identify enforcement violations, focus on safety initiatives, improve road design, and protect Oklahoma's single largest asset, its highway infrastructure.

"This project builds on the previous deployments of four Port-of-Entry Electronic Screening Systems in Oklahoma and we are pleased to expand our relationship with ODOT. Oklahoma's commercial vehicle operations managers and inspectors will benefit from advanced automated weigh station systems that include the latest e-screening technology," said Rish Malhotra, IRD's President and CEO. "IRD's systems enable the collection of real-time, actionable traffic data which can be used to enforce overweight vehicles, enhance overall road safety, and plan for the state's freight transportation future. The broad scope of IRD's services in Oklahoma underline the value agencies see in IRD's systems and their willingness to commit to long-term service agreements."

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 ICOMS Detections, 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-fifth-electronic-screening-and-enforcement-system-in-oklahoma-301358585.html

SOURCE International Road Dynamics

FAQ

What is the significance of IRD's contract with ODOT?

The contract underscores IRD's leadership in supplying commercial vehicle screening systems, enhancing road safety and operational efficiency.

When will the installation of the ESS at the weigh station begin?

The installation is expected to commence in the second quarter of 2022.

What technology will be included in the new Electronic Screening System?

The ESS will integrate a Weigh-In-Motion system, Tire Anomaly Classification System, and real-time vehicle detection technologies.

What is the duration of the maintenance agreement for the new system?

The maintenance agreement for the ESS is set for five years.

How does the ESS improve road safety in Oklahoma?

The ESS improves road safety by enabling real-time screening of commercial vehicles for size, weight, and compliance, thereby enforcing safety regulations.