Rekor and COTA Kick Off $2.5 Million Program to Improve Traffic and Transit Services in Central Ohio

Rhea-AI Summary

Rekor Systems (NASDAQ:REKR) and the Central Ohio Transit Authority (COTA) have initiated a $2.525 million Integrated Mobility Innovation (IMI) Transit Program aimed at enhancing traffic management and transit services across 13 Ohio counties. Funded by a U.S. DOT grant and COTA, Rekor will receive $2.15 million for its services. The program focuses on reducing travel times, improving public safety response, and providing real-time traffic data through a cloud-based platform. The initiative builds on prior successful implementations and aims to create a safer and more efficient transit experience.

Positive

• Partnership with COTA enhances transit services through advanced technology.
• Total funding of $2,525,000 enables comprehensive program implementation.
• Rekor to receive $2,150,000 for its services, boosting revenue potential.
• Cloud-based platform improves real-time traffic monitoring and public safety response.

Negative

• None.

Program funded by FTA grant and COTA unifies traffic and transit data using artificial intelligence to better serve customers across 13 counties

COLUMBIA, MD / ACCESSWIRE / October 4, 2022 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter and greener cities around the world through intelligent infrastructure, together with the Central Ohio Transit Authority (COTA), today announced the launch of a new Integrated Mobility Innovation (IMI) Transit Program to improve roadway safety, traffic management, and transit services across 13 Ohio counties.

In March 2020, COTA was awarded the Federal Transit Administration's IMI Demonstration Research grant to improve public safety, regional collaboration, and the customer experience. COTA, together with Rekor, has developed a cloud-based regional technology environment that ingests data from existing infrastructure, now including the City of Columbus Computer Aided Dispatch (CAD), to provide web-based dashboards for greater visibility of the roadways, transit, and traffic incidents.

The system is intended to unify traffic and transit data to improve transit services, increase public safety response times and reduce traffic congestion across Central Ohio. It also gives traffic and transit operators the ability to better identify events disrupting traffic and transit and take appropriate action to better serve customers and travelers in the regions.

Over the past year, the Rekor team designed and developed a new and improved transit module within the Rekor One Traffic Management platform, with participation and input from the Ohio partners involved. Participating transit agencies, public safety organizations, and the 13 counties can now share, view, prepare for and react to real-time traffic information on a single web-based platform.

"Rekor is proud to team up with COTA in launching the deployment of this enhanced transit module that will optimize transit routes and travel across Central Ohio," said Robert A. Berman, CEO and Chair, Rekor. "Our AI-driven platform enables COTA and its regional partners to proactively monitor real-time traffic conditions to provide improved service to their customers by getting them to their destinations on time."

"These partnerships across the region and our work with Rekor allow us to collect and share valuable and actionable data to improve insights into transit for our customers and residents who travel throughout the region," said COTA Chief Innovation and Technology Officer Sophia Mohr. "The preliminary data and results from the Rekor One Transit Module implementation across Central Ohio are very encouraging, and we're excited to continue this work with all of our partners."

Funding for the program will total $2,525,000, with $1,725,000 in funding sourced through the U.S. DOT grant and COTA providing the additional $800,000 investment. Rekor will receive $2,150,000 for its services throughout the duration of the program.

With an overarching goal of reducing travel time and increasing safety on the roadways for residents in the region, COTA initially piloted the system from August 2019 to February 2020, allowing the agency to see a real-time display of all active transit routes, and differentiate between early, on-time and late transit vehicles.

Upon completion of the two-year program, participating agencies and partners can assess its success and extend the program if desired.

Participating Partners and Counties
Partners involved in the project include COTA, the Ohio Department of Transportation, Delaware County Transit, Union County Agency Transportation Service, Lancaster-Fairfield Public Transit, Morrow County Area Transit, GoBus, Columbus City (Traffic Management Division, Vision Zero Program, Columbus Division of Police), The Ohio State University, the Columbus Fire Department (CFD), Hocking Athens Perry Community Action (HAPCAP), and Delaware and Union County 911 Services.

Counties participating in the transit program include Logan County, Marion County, Union County, Delaware County, Knox County, Franklin County, Licking County, Madison County, Pickaway County, Fairfield County, Hocking County, and Athens County.

About COTA
The Central Ohio Transit Authority (COTA) is a 2018 and 2020 American Public Transportation Association Award Winner for Outstanding Public Transportation System. The Central Ohio Transit Authority is the region's mobility solutions provider, driven each day to connect people to prosperity through innovation, dedication, and teamwork. By utilizing technology and data, establishing community partnerships, and applying sustainability principles, COTA provides equitable access to jobs, healthcare, and education. In 2021, COTA received GBAC Star accreditation from the Global Biorisk Advisory Council for its work in combating the spread of COVID.

About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ:REKR) is a trusted global authority on intelligent infrastructure providing innovative solutions that drive the world to be safer, smarter and greener. As a provider of comprehensive, continuous, and real-time roadway intelligence, Rekor leverages AI, machine learning, and holistic data to support the intelligent infrastructure that is essential for smart mobility. With its disruptive technology, the Company delivers integrated solutions, actionable insights, and predictions that increase roadway safety. To learn more, please visit our website: https://rekor.ai.

COTA Contact:
Jeff Pullin
Public & Media Relations Manager
pullinJD@cota.com

Media & Investor Relations Contact:
Rekor Systems, Inc.
Charles Degliomini
ir@rekorsystems.com

Forward-Looking Statements

This press release and its links and attachments contain statements concerning Rekor Systems, Inc. and its future expectations, plans, and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for ALPR systems. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.

SOURCE: Rekor Systems, Inc.

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FAQ

What is the Integrated Mobility Innovation Transit Program launched by Rekor?

The Integrated Mobility Innovation Transit Program aims to enhance traffic management and transit services across 13 Ohio counties using a cloud-based platform for real-time traffic data.

How much funding is allocated to the Rekor and COTA program?

The program has a total funding of $2,525,000, with $1,725,000 from the U.S. DOT grant and $800,000 from COTA.

What will Rekor receive for its services in the program?

Rekor will receive $2,150,000 for its services throughout the duration of the Integrated Mobility Innovation Transit Program.

How does the program aim to improve public safety and traffic conditions?

The program intends to unify traffic and transit data, enhance public safety response times, and reduce traffic congestion across Central Ohio.

Which counties are involved in the Rekor and COTA transit initiative?

The transit program involves 13 counties in Ohio, including Franklin, Licking, and Delaware counties, among others.