Wejo and Rekor Announce that Wejo has Joined the Rekor Partner Network to Revolutionize Incident Detection and Response Through Real-Time Connected Vehicle Data

Rhea-AI Summary

Wejo Group Limited (NASDAQ: WEJO) has joined the Rekor Partner Network, enhancing its position in the Smart Mobility sector. This partnership allows Wejo to contribute its expertise in processing vast amounts of data from connected vehicles, improving real-time incident detection for transportation agencies. By leveraging connected vehicle data (CVD), Rekor reported a 23% increase in detection rates, enabling faster incident response times of up to 15 minutes. This integration aims to enhance road safety and efficiency by providing real-time insights into roadway incidents, significantly benefiting traffic management and emergency services.

Positive

• Joined the Rekor Partner Network, expanding market opportunities.
• Contributes expertise in processing data from over 20 million vehicles.
• Aims to improve real-time road incident detection and safety.

Negative

• None.

MANCHESTER, England, April 25, 2023 (GLOBE NEWSWIRE) -- Wejo Group Limited (NASDAQ: WEJO), a global leader in Smart Mobility for Good™ cloud and software solutions for connected, electric, and autonomous vehicle data, and Rekor Systems (NASDAQ: REKR) ("Rekor"), today announced that Wejo has joined the Rekor Partner Network ("RPN"). The RPN is a global ecosystem of technology, data, and solution providers working together to provide the most comprehensive view of the world's roadway data and intelligence available, streamlining innovation and solving transportation and mobility challenges. The RPN facilitates and streamlines roadway data collection and analysis for transportation agencies, corporations, and private firms, enabling them to gain valuable insights quickly.

The RPN is a global ecosystem of technology, data, and solution providers working together to provide the most comprehensive view of the world's roadway data and intelligence available, streamlining innovation and solving transportation and mobility challenges. The RPN facilitates and streamlines roadway data collection and analysis for transportation agencies, corporations, and private firms, enabling them to gain valuable insights quickly.

As a member of the RPN, Wejo contributes its expertise in processing billions of data points from millions of connected vehicles – vital information for state and municipal transportation agencies eager to access real-world, real-time road incident data, resulting in quicker and more effective response times. Wejo joins dozens of other global technology and data leaders already part of the RPN.

Rekor utilizes Wejo and other connected vehicle data (CVD) to identify road incidents that may not have been reported, resulting in a 23% increase in detection rates. This technology is particularly effective in rural areas, providing superior coverage compared to traditional methods of incident detection. By leveraging CVD, Traffic Management Centers in Departments of Transportation can now identify and respond to incidents up to 15 minutes faster, resulting in faster incident response and recovery and reducing the occurrence of secondary incidents and congestion. Rekor's automatic incident detection system augments other emergency notification systems like 911, detecting incidents even before they are reported, especially minor incidents that are frequently overlooked or ignored. All of this works together to improve the safety of all drivers on roadways.

"Roadway incidents such as collisions, stalled vehicles, debris, traffic stops, and congestion are major safety hazards for drivers, cyclists, and pedestrians. Vehicle crashes alone result in 1.35 million deaths annually, in addition to causing secondary crashes, dangerous backups, and other hazardous conditions," said David Desharnais, President, and COO, Rekor. "Faster identification and response to these incidents by traffic managers and emergency personnel is critical to the impact and outcome of these situations, often making the difference between life and death. The integration of Wejo into the RPN and Rekor solutions, Departments of Transportation now have access to another source of critical real-time road incident data at their fingertips, enabling more rapid and life-saving response times."

"We are excited to partner with Rekor and make Wejo's CVD accessible to Rekor's customers," said Richard Barlow, Found and CEO of Wejo. "The wealth of data available we are able to provide includes trillions of data points from over 20 million vehicles enabling agencies to better understand trends in their roadway network and optimize their planning and response. By working together, Rekor and Wejo aim to make our roads safer, smarter, and more efficient, ultimately improving the lives of all road users."

About Wejo:

Wejo Group Limited is a global leader in cloud and software analytics for connected, electric, and autonomous mobility, revolutionizing the way we live, work and travel by transforming and interpreting historic and real-time vehicle data. The Company enables smarter mobility by organizing trillions of data points from 20.8 million vehicles, of which 13.9 million were active on the platform transmitting data in near real-time, and over 94.6 billion journeys globally as of December 31, 2022, across multiple brands, makes and models, and then standardizing and enhancing those streams of data on a vast scale. Wejo partners with ethical, like-minded companies and organizations to turn that data into insights that unlock value for consumers. With the most comprehensive and trusted data, information, and intelligence, Wejo is creating a smarter, safer, more sustainable world for all. Founded in 2014, Wejo has offices in Manchester, UK and in regions where Wejo does business around the world. For more information, visit www.wejo.com or connect with us on LinkedIn, Twitter, and Instagram.

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 communication contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. For more information, please follow this link: https://www.wejo.com/forward-looking-statements 

Media & Investor Relations Contact:         

Media
Ben Hohmann
Ben.Hohmann@wejo.com

Investors
Megan LeDuc
Investor.relations@wejo.com

FAQ

What does the partnership between Wejo and Rekor mean for WEJO investors?

The partnership enhances Wejo's market position and potential revenue opportunities through improved data services for transportation agencies.

How does Wejo's data processing benefit transportation agencies?

Wejo processes billions of data points from connected vehicles, providing real-time insights that improve incident detection and response times.

What is the impact of connected vehicle data on traffic management?

The use of connected vehicle data has shown to increase incident detection rates by 23%, aiding in quicker and more effective responses.

How fast can traffic management respond to incidents with Wejo's data?

Traffic management can respond to incidents up to 15 minutes faster using Wejo's real-time data.

What is Wejo Group Limited's focus in the mobility sector?

Wejo focuses on providing cloud and software solutions that enhance smart mobility through connected, electric, and autonomous vehicle data.