Rekor Systems Awarded Contract by Florida Department of Transportation (FDOT)
Rekor Systems, Inc. (NASDAQ:REKR) has secured a groundbreaking multimillion dollar contract with the Florida Department of Transportation (FDOT). The five-year agreement focuses on non-motorized roadway data collection, targeting improved safety for pedestrians and cyclists in Florida, which has the highest bicycle fatalities in the U.S. The contract will be executed through Rekor's subsidiary, Southern Traffic Services, which it acquired recently. The data will help inform safety studies and infrastructure planning, contributing to funding allocations at the state and federal levels.
- Awarded a five-year multimillion dollar contract with FDOT, enhancing revenue potential.
- Targets improvement of safety for non-motorized users in a state with high bicycle and pedestrian fatalities.
- Expands on recent acquisition of Southern Traffic Services, already generating significant revenue.
- None.
Five-year multimillion dollar award represents first of its kind contract for safety driven, non-motorized roadway data in the State
Contract utilizes Rekor's technology to detect bicycles and pedestrians in support of FDOT's goal of improving safety and mobility for all road and trail users
COLUMBIA, MD / ACCESSWIRE / July 26, 2022 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide insights that build safer, smarter, and more efficient cities through intelligent infrastructure, today announced that it has been awarded a contract with the Florida Department of Transportation (FDOT) Office of Transportation Data and Analytics (TDA). This contract covers hardware, software and data collection services for the State's Non-Motorized Count Station Installation and Maintenance Services over a five-year term. The contract was executed by Rekor subsidiary Southern Traffic Services (STS), which it acquired in June 2022.
Recently, the State of Florida ("the State") was named as having the most bicycle fatalities among states by the U.S. Department of Transportation and recently was cited as the second most dangerous state for pedestrians by Smart Growth America. To combat this urgent safety risk, the State has put in place an aggressive program to collect and analyze data on non-motorized pedestrian and bicycle traffic across the State. This new contract expands these efforts by using Rekor's advanced monitoring capabilities and AI-enabled analysis to identify trends and changes in real-time traffic that can lead to better solutions. The data collected, which includes volume data and supporting statistics, can be used for analyses in a variety of projects, such as safety studies and planning for FDOT facilities, pavement and trail maintenance.
"This contract is a clear example of what the billions of dollars flowing from the federal Infrastructure Investment and Jobs Act need to be used for first. The infrastructure of the future will be shaped by a better understanding of real time roadway data. Understanding these rapidly changing needs is a critical first step in every new infrastructure project and we are pleased to be a leader in delivering these vital services at this important time. Our recent acquisition of STS is already generating significant revenue for the Company, and we look forward to providing similar enhanced value in the many other states where STS is also a trusted partner," said Robert A. Berman, CEO and Chair, Rekor.
Under its terms, Florida counties and municipalities will also be able to use the benefits of this five-year contract with FDOT. This data collection follows national guidelines allowing the data to be submitted to the Federal Highway Administration. This translates into funding allocations for state and federal highway programs and is therefore a critical necessity in each State.
For more information on Rekor's solutions for Transportation Departments, please visit https://www.rekor.ai/industries/transportation.
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 more efficient. 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, and follow Rekor on social media on LinkedIn, Twitter, and Facebook.
Forward-Looking Statements
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Media & Investor Relations Contact:
Rekor Systems, Inc.
Charles Degliomini
ir@rekorsystems.com
SOURCE: Rekor Systems, Inc.
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