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Wrap Technologies, Inc. (Nasdaq: WRAP) is at the forefront of developing non-lethal public safety technologies. Headquartered in Tempe, Arizona, the company is renowned for creating innovative solutions tailored for law enforcement and security personnel across the globe. One of its flagship products, the BolaWRAP® 150 Remote Restraint Device, is a patented handheld tool that deploys a Kevlar® cord to safely restrain individuals from a distance of 10-25 feet. This device addresses the critical need for non-violent de-escalation in tense situations, making it an essential tool for over 900 agencies in the US and 60 countries worldwide.
Wrap Technologies is committed to creating safer communities through its diverse product lineup. The Wrap Reality™ virtual reality training system offers a fully immersive experience, providing first responders with realistic scenarios to hone their skills and improve decision-making in the field. This innovative platform significantly enhances public safety training by addressing the dynamic nature of modern law enforcement situations.
Adding to its portfolio, Wrap's Intrensic solution is a comprehensive body-worn camera and evidence management system. This platform ensures the accurate capture, secure handling, and reliable storage of evidence, fostering greater trust and transparency in law enforcement procedures. With features like AI Auto-Tagging, which leverages advanced machine learning to streamline video analysis, the Intrensic system supports compliance and reduces operational costs.
Wrap Technologies has established strategic partnerships to expand its reach and impact. Notably, its collaboration with Kokusai Security in the Asia-Pacific region aims to promote the adoption of Wrap's products, bolstering public safety and operational effectiveness across new markets.
Recent achievements of the company include the continued refinement and deployment of its BolaWRAP® device, advancements in virtual reality training through Wrap Reality™, and ongoing enhancements to the Intrensic platform. With a steadfast focus on innovation, Wrap Technologies remains dedicated to equipping law enforcement and security personnel with the tools they need to perform their duties safely and effectively.
For further details, visit wrap.com or contact their Investor Relations at 800.583.2652 or via email at ir@wrap.com.
TEMPE, Ariz., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (Nasdaq: WRAP) announced participation in the Take Aim: Lake Street's Shooting Sports & Public Safety Event on January 26, 2022, at 12:00pm CT. This virtual conference, focusing on investment opportunities in the consumer space, allows institutional investors to engage with executives from multiple publicly traded companies. One-on-one meetings with WRAP management can be scheduled throughout the day. For further details, contact your Lake Street representative.
Wrap Technologies (Nasdaq: WRAP) announced that the Edenton Police Department in North Carolina has successfully integrated its Wrap Reality virtual reality training platform, hosting 10 local departments for demonstrations since its installation in November 2021. The platform aims to improve training efficiency and reduce use-of-force incidents. Following grant funding, Edenton will also expand its capabilities with the next-generation BolaWrap 150 device. Chief Henry King emphasizes the importance of these tools for officer and community safety.
Wrap Technologies (Nasdaq: WRAP) showcased successful use of its BolaWrap Remote Restraint device in a police incident. On December 22, 2021, Glenwood Springs officers employed two BolaWrap devices to safely restrain a noncompliant subject, preventing escalation to physical confrontation. Chief Joseph Deras praised the BolaWrap for minimizing injury risks. The demonstration emphasizes BolaWrap's effectiveness in public safety, aligning with WRAP's mission to enhance community protection through innovative technologies.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced its first order for BolaWrap 150® Remote Restraint devices through the Arizona Municipal Risk Retention Pool (AMRRP), which will fund 50% of the purchase price. This order aims to equip over 1,800 police officers across 60 rural agencies in Arizona. The full deployment includes devices, cassettes, and holsters, expected to ship in Q1 2022. The company is optimistic about the order's potential to reduce excessive force claims and has received five additional requests for quotes from AMRRP members.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced that President and CEO Tom Smith will present at the 24th Annual Needham Virtual Growth Conference on January 11, 2022, at 5:00 pm ET. The conference runs from January 10-14, 2022, and WRAP management will host one-on-one meetings on January 11 and 12. The company is recognized for its innovative public safety technologies, including the BolaWrap remote restraint device and the Wrap Reality training system, designed to aid public safety officials in effective de-escalation and apprehension methods.
Wrap Technologies, Inc. (Nasdaq: WRAP) has announced the international sale of 15,000 cartridges for its BolaWrap 100® remote restraint device, demonstrating a growing commitment to less-lethal force in public safety. This order was received in late December 2021, with revenue expected to be recognized in Q4 2021 and Q1 2022. CEO Tom Smith emphasized the importance of effective training for officers to enhance their use-of-force programs. Wrap Technologies offers innovative solutions and training tools to empower law enforcement and improve community safety.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced the shipment of 100 BolaWrap 150 devices to the Dominican Republic Ministry of Defense, following previous successful demonstrations. The order reflects growing interest in international markets, despite ongoing pandemic challenges. The company aims to bolster law enforcement safety with its innovative restraint technology. The shipment occurred in Q4 2021, signaling continued progress in securing international contracts.
Wrap Technologies, Inc. (Nasdaq: WRAP) has partnered with the Emergency Response Training & Certification Association (ERTCA) and Mansfield University Public Safety Training Institute to launch a Mobile Virtual Reality Experience (MVRE) for law enforcement training in Pennsylvania and New York. Starting in March 2022, the program will provide 36 credentialed VR training modules for free, with a focus on enhancing skills like de-escalation and conflict resolution. This initiative aims to empower first responders and improve community safety through innovative training methods.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced the first international shipment of its BolaWrap 150® remote restraint device on December 27, 2021. This shipment follows successful live demonstrations held in October 2021, highlighting the device's innovative features for public safety. Jags Gill, VP of International Sales, emphasized the growing demand for the technology despite international travel challenges. The BolaWrap 150 is designed to safely restrain individuals from a distance, marking a significant step in public safety technology.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced that the Arizona Municipal Risk Retention Pool (AMRRP) has unanimously approved funding to help member police agencies procure BolaWrap devices, covering 50% of the purchase price. AMRRP represents over 60 agencies with over 1,800 police officers. The Board believes that BolaWrap's technology could reduce risks and liability in police operations. CEO Tom Smith highlighted the growing demand for alternative policing methods and improved training solutions, emphasizing WRAP's commitment to innovative public safety solutions.
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