Rekor Systems Awarded Contract by Florida Department of Transportation and the City of Tallahassee for Non-Intrusive Roadway Data Collection

Rhea-AI Summary

Rekor Systems (NASDAQ: REKR) has secured a multi-year contract with the Florida Department of Transportation (FDOT) valued at over $1.8 million. The contract involves providing portable data services for roadway networks in District 3 and the City of Tallahassee, focusing on vehicle classification data, including counts and speed information mandated by the Federal Highway Administration. The deployment will utilize non-intrusive cameras and sensors, aiding road safety and efficiency improvements.

This collaboration signifies Rekor's expansion in vehicle data services, leveraging its advanced technology to enhance Florida's transportation infrastructure.

Positive

• Secured a multi-year contract with FDOT valued at over $1.8 million.
• Expands operations in Florida, enhancing partnership with government agencies.
• Utilizes advanced technology for non-intrusive data collection, aiding road safety.

Negative

• None.

Company continues expansion into vehicle class, count, and speed data

COLUMBIA, MD / ACCESSWIRE / March 3, 2023 / 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 around the world through intelligent infrastructure, today announced that it has been awarded a contract by the Florida Department of Transportation ("FDOT") to provide portable data services for the agency's roadway network in District 3 and the City of Tallahassee. Rekor will collect and report vehicle classification data, including count and spot speed information, data that the Federal Highway Administration requires. The multi-year contract is valued at over $1.8 million.

"We are excited to expand our operations in Florida and to partner with the Florida Department of Transportation again," said Michael Dunbar, Chief Revenue Officer of Rekor Systems. "Over the course of this contract, our advanced technology and expertise in non-intrusive roadway data collection will allow us to provide accurate, timely, and comprehensive data that will be instrumental in improving the safety and efficiency of Florida's transportation infrastructure."

Rekor will deploy non-roadway intrusive cameras and sensors at locations throughout Tallahassee and FDOT District 3, which covers eighteen counties in the panhandle region of Florida. The data collected will be used by the FDOT to make informed decisions on roadway improvements, report mandatory data to the Federal Highway Administration, and assist other initiatives aimed at enhancing safety and reducing congestion.

"This contract is a testament to Rekor's expansion into vehicle class, count, and speed data collection," Dunbar said. "Our advanced technology and commitment to providing exceptional service make us the ideal partner for government agencies and transportation organizations across the country."

Rekor Systems provides AI-driven roadway data collection and analysis solutions. The Company's innovative technology is used by government agencies, transportation organizations, and private companies around the world to improve transportation efficiency and safety.

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, and follow Rekor on social media on LinkedIn, Twitter, and Facebook.

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.

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

SOURCE: Rekor Systems, Inc.

View source version on accesswire.com:
https://www.accesswire.com/741823/Rekor-Systems-Awarded-Contract-by-Florida-Department-of-Transportation-and-the-City-of-Tallahassee-for-Non-Intrusive-Roadway-Data-Collection

FAQ

What is the value of Rekor's contract with the Florida Department of Transportation?

The contract is valued at over $1.8 million.

What services will Rekor provide under the FDOT contract?

Rekor will provide portable data services for vehicle classification, including counts and speed information.

How will the data collected by Rekor be used?

The data will assist the FDOT in making informed decisions on roadway improvements and reporting to the Federal Highway Administration.

What technology will Rekor use for data collection in Florida?

Rekor will deploy non-intrusive cameras and sensors throughout the designated areas.

What does this contract signify for Rekor Systems?

It signifies Rekor's expansion into vehicle class, count, and speed data collection.