Viper Networks Reached Definitive Agreement with 21 Suburban Cities in Greater Chicago to Launch Smart City Projects in 2021

Rhea-AI Summary

Viper Networks (OTC Pink: VPER) has finalized a 20-year agreement with a consortium of 21 cities in suburban Chicago to develop smart city projects. This initiative capitalizes on the recent $1.2 trillion Infrastructure Bill, aiming to enhance street lighting, traffic management, and security while minimizing environmental impact. The project will start in Palos Hills and Justice, targeting 2,000 smart poles by mid-2022, potentially generating $10 million in annual revenue. Viper’s innovative revenue-sharing model removes financial barriers for cities, allowing for swift infrastructure deployment and shared revenue opportunities.

Positive

• Finalized a 20-year agreement with 21 cities for smart city projects.
• Projected annual revenue of $10 million from the rollout of 2,000 smart poles.
• Innovative financing via infrastructure-as-a-service and revenue-sharing model.

Negative

• None.

TROY, Mich., Aug. 13, 2021 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (OTC Pink: VPER), an international leader in the LED Street Lights products and integrated Smart City solutions, is pleased to announce that it has reached a final 20-year agreement with a consortium of 21 cities throughout suburban Chicago, Illinois; to build and operate a variety of smart city projects.

Cities are looking to take advantage of the latest $1.2 Trillion Infrastructure Bill that just passed this week, and Viper Networks is prime to partner with the latest technology and services, and launch Smart City Projects nationwide. As American cities begin to transform their infrastructure, Viper Networks is focused on providing municipalities with the ability to efficiently control and adjust street lighting, monitor activities, provide state-of-art communication, enhance security and manage traffic; all while reducing the environmental footprint and creating new revenue sources.

Viper is making it even easier to buy with its latest infrastructure-as-a-service combined with a revenue-share model, allowing cities to quickly deploy infrastructure without heavy upfront capital and thus removing barrier to entry; in exchange cities share the upside of new revenues with Viper, such as advertising or artificial-intelligence-based traffic violations, generating a long-term mutually beneficial relation.

The project is commencing in the cities of Palos Hills and Justice, gradually adding infrastructure with a target rollout of approximately 2,000 smart poles by the second half of 2022. This will drive an annualized revenue of $10 million before adding the revenue share.

Viper Networks will showcase new smart poles with smart wireless control, camera and wireless 6E and 5G interconnection, digital advertising panels, smart LED lights, WiFi, and fiber optics interconnection in the Greater Chicago area this fall. We will have media companies for live streaming at the opening of the project.

Mr. Farid Shouekani, Viper Networks CEO and President, commented: “We began this unique Public Private relationship with Illinois suburban cities over three years ago with a Memorandum of Understanding. Today, our company’s further enhanced technology coupled with the country’s historical infrastructure bill passage are truly coming together for the greater good. We are thrilled to be making this happen shortly and every shareholder should begin to understand the significance of applying what we are doing in Greater Chicago on a national basis. Expect further updates this month.”

For more information go to www.ViperNetworks.com or follow us on Twitter @vipernetworks

Safe Harbor Statement:
This news release contains "forward-looking statements" as that term is defined in Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this release which are not historical are forward-looking and include any statements regarding beliefs, expectations or intentions regarding the future. Such statements are not guaranteeing of future performance and actual results may differ from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources.

Investor Relations/Media Contact: SAG Equity Group, Greater Orlando / 407.444.5959

FAQ

What is Viper Networks' recent agreement about?

Viper Networks has reached a 20-year agreement to develop smart city projects with 21 cities in suburban Chicago.

How much revenue is Viper Networks projected to generate from the smart poles?

The rollout of approximately 2,000 smart poles is expected to generate $10 million in annual revenue.

What technology will Viper Networks showcase in Chicago?

Viper Networks will showcase smart poles equipped with wireless control, cameras, digital advertising panels, and fiber optics.

How does Viper Networks' revenue-sharing model work?

Cities can deploy infrastructure without heavy upfront costs and share new revenues from initiatives like advertising and traffic management with Viper.

When is the rollout of smart poles expected to be completed?

The rollout of smart poles is targeted for completion by the second half of 2022.