STOCK TITAN
The best stock market news and trading tools all in one place—your must-have platform for investing success.
A must-have platform for stock market information, offering the best tools and updates to supercharge your trading.
Your trusted source for the best stock market news, trading tools, and expert advice. Everything traders need, in one place.

Quarterhill Announces Two Contracts in Idaho Valued at $3.4 Million for Weigh Station Upgrades and Maintenance

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Quarterhill has secured two contracts worth $3.4 million with the Idaho Transportation Department for system upgrades and maintenance at Commercial Vehicle Enforcement stations. The first contract involves upgrading the Inkom Port-of-Entry weigh station with advanced technology, including license plate readers, cameras, and Single-Load-Cell WIM Scales. The second contract provides one-year maintenance services for electronic screening and virtual weigh station sites, with an option for a one-year extension. The Inkom project notably includes a Tire Anomaly and Classification System (TACS) to detect tire issues, enhancing road safety and operational efficiency.

Quarterhill ha ottenuto due contratti del valore di 3,4 milioni di dollari con il Dipartimento dei Trasporti dell'Idaho per l'aggiornamento e la manutenzione dei sistemi presso le stazioni di Enforcement dei Veicoli Commerciali. Il primo contratto prevede il miglioramento della stazione di pesatura Inkom Port-of-Entry con tecnologia avanzata, tra cui lettori di targhe, telecamere e bilance WIM a celle cariche singole. Il secondo contratto offre servizi di manutenzione per un anno per i siti di screening elettronico e le stazioni di pesatura virtuali, con un'opzione per un'estensione di un anno. Il progetto Inkom include in modo significativo un Sistema di Anomalia e Classificazione dei Pneumatici (TACS) per rilevare problemi ai pneumatici, migliorando la sicurezza stradale e l'efficienza operativa.

Quarterhill ha asegurado dos contratos por un valor de 3.4 millones de dólares con el Departamento de Transporte de Idaho para actualizaciones y mantenimiento de sistemas en las estaciones de Cumplimiento de Vehículos Comerciales. El primer contrato implica la actualización de la estación de pesaje Inkom Port-of-Entry con tecnología avanzada, incluidos lectores de matrículas, cámaras y básculas WIM de célula de carga única. El segundo contrato proporciona servicios de mantenimiento por un año para el cribado electrónico y sitios de estaciones de pesaje virtuales, con una opción de extensión por un año. El proyecto de Inkom incluye notablemente un Sistema de Anomalías y Clasificación de Neumáticos (TACS) para detectar problemas de neumáticos, mejorando la seguridad vial y la eficiencia operativa.

Quarterhill는 아이다호 교통국과 340만 달러 가치의 두 개 계약을 체결하여 상업용 차량 단속소의 시스템 업그레이드 및 유지보수를 진행합니다. 첫 번째 계약은 최신 기술을 도입하여 Inkom Port-of-Entry 계량소를 업그레이드하는 것으로, 여기에는 번호판 판독기, 카메라 및 단일 하중 셀 WIM 스케일이 포함됩니다. 두 번째 계약은 전자 스크리닝 및 가상 계량소 사이트에 대한 1년 유지보수 서비스를 제공하며, 1년 연장 옵션이 포함되어 있습니다. Inkom 프로젝트는 타이어 이상 및 분류 시스템 (TACS)이 포함되어 있어 타이어 문제를 감지하여 도로 안전성과 운영 효율성을 높입니다.

Quarterhill a obtenu deux contrats d'une valeur de 3,4 millions de dollars avec le Département des Transports de l'Idaho pour des mises à jour de système et la maintenance des stations de contrôle des véhicules commerciaux. Le premier contrat concerne la mise à niveau de la station de pesée Inkom Port-of-Entry avec une technologie avancée, y compris des lecteurs de plaques d'immatriculation, des caméras et des balances WIM à cellule de charge unique. Le deuxième contrat prévoit un service de maintenance d'un an pour le dépistage électronique et les sites de station de pesée virtuelle, avec une option de prolongation d'un an. Le projet Inkom comprend notamment un Système d'Anomalie et de Classification des Pneus (TACS) pour détecter les problèmes de pneus, améliorant ainsi la sécurité routière et l'efficacité opérationnelle.

Quarterhill hat zwei Verträge im Wert von 3,4 Millionen Dollar mit dem Verkehrsministerium von Idaho für Systemaktualisierungen und Wartungsarbeiten an den Kontrollstationen für Nutzfahrzeuge gesichert. Der erste Vertrag umfasst die Aufrüstung der Inkom Port-of-Entry-Waage mit fortschrittlicher Technologie, einschließlich Kennzeichenscannern, Kameras und Single-Load-Cell-WIM-Waagen. Der zweite Vertrag bietet einjährigen Wartungsdienst für die elektronische Überprüfung und virtuelle Wiegestationen, mit der Option auf eine einjährige Verlängerung. Das Inkom-Projekt umfasst insbesondere ein Reifenanomalie- und Klassifizierungssystem (TACS), um Reifenprobleme zu erkennen und die Verkehrssicherheit sowie die Betriebseffizienz zu verbessern.

Positive
  • Secured new contracts worth $3.4 million
  • Contract includes option for one-year maintenance service extension
  • Implementation of advanced technology solutions enhancing service offerings
Negative
  • None.
  • Quarterhill's upgrade of the Inkom Port-of-Entry weigh station introduces state-of-the-art technology, including advanced License Plate Reader cameras and SLC™ WIM Scales, enhancing safety and improving commercial vehicle processing efficiency on the I-15 Corridor.
  • Quarterhill will provide maintenance services for Idaho's commercial vehicle enforcement sites, ensuring continuous operational efficiency and data reporting from electronic screening systems and virtual weigh stations.

TORONTO, Nov. 27, 2024 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), announced today that it has been awarded two contracts valued at $3.4 million for system upgrades and maintenance at Commercial Vehicle Enforcement stations operated by the Idaho State Police ("ISP"). All financial information in this press release is reported in U.S. dollars.

Quarterhill has been contracted by the Idaho Transportation Department ("ITD") to install new components and upgrade the Inkom Port-of-Entry weigh station as part of the I-15 Inkom Corridor Improvements. The entrance ramp is being extended, which necessitates the relocation of the Weigh-In-Motion ("WIM") system. Key technological upgrades include advanced license plate readers and overview cameras, an over-height detector, and automatic vehicle identification antenna and reader electronics. The project also includes the integration of cutting-edge iSINC WIM electronics, and the supply of Single-Load-Cell WIM Scales to ensure precise commercial vehicle weight assessments.

Quarterhill will also provide one year of maintenance for electronic screening and virtual weigh station sites, covering electronics upgrades, data services, quality checks, data supply to the state, and reporting support for Idaho agencies. The contract includes an option to extend maintenance services for an additional year.

The Inkom project includes the installation of a Tire Anomaly and Classification System ("TACS"), designed to detect and classify tire issues, including flat, missing, or underinflated tires. Identifying such anomalies is vital for road safety, as tire defects can impair vehicle control, increase stopping distances, and lead to a higher number of accidents. Moreover, ensuring tires are in good condition helps in reducing fuel consumption and extending tire life, thereby promoting both economic and environmental benefits. This targeted approach towards tire monitoring underscores a commitment to enhancing vehicular safety and operational efficiency within Idaho's transportation infrastructure.

"Partnering with the Idaho Transportation Department underscores Quarterhill's dedication to advancing infrastructure through innovation," Chuck Myers, CEO of Quarterhill, commented. "Upgrades like the modernized e-screening system, enhanced electronics, and TACS installation reflect our commitment to road safety, operational efficiency, and environmental sustainability. These improvements streamline commercial vehicle processing and reinforce our role in delivering impactful public infrastructure projects that benefit Idaho and its citizens."

About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, 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: www.quarterhill.com.

Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of ‎Quarterhill based on future economic conditions and courses of action. All statements other ‎than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ‎‎"plan", "goal", "expect" and similar expressions.

Forward-looking statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ‎the forward-looking statements are reasonable, but no assurance can be given that these expectations ‎will prove to be correct and such forward-looking statements included in this news release should not be ‎unduly relied upon.‎ Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. 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.

Cision View original content:https://www.prnewswire.com/news-releases/quarterhill-announces-two-contracts-in-idaho-valued-at-3-4-million-for-weigh-station-upgrades-and-maintenance-302317159.html

SOURCE Quarterhill Inc.

FAQ

What is the value of Quarterhill's (QTRHF) new Idaho contracts in 2024?

Quarterhill secured two contracts valued at $3.4 million for system upgrades and maintenance at Commercial Vehicle Enforcement stations in Idaho.

What technology upgrades will Quarterhill (QTRHF) implement at the Inkom weigh station?

Quarterhill will implement advanced license plate readers, overview cameras, an over-height detector, automatic vehicle identification systems, iSINC WIM electronics, and Single-Load-Cell WIM Scales.

What is the duration of Quarterhill's (QTRHF) maintenance contract with Idaho Transportation Department?

The maintenance contract is for one year with an option to extend for an additional year.

What is the TACS system being installed by Quarterhill (QTRHF) in Idaho?

TACS (Tire Anomaly and Classification System) is designed to detect and classify tire issues, including flat, missing, or underinflated tires to enhance road safety.

QUARTERHILL INC

OTC:QTRHF

QTRHF Rankings

QTRHF Latest News

QTRHF Stock Data

132.84M
110.91M
1.72%
2.77%
0.06%
Communication Equipment
Technology
Link
United States of America
Toronto