WRAP Announces Collaboration with Wheaton College on WRAP Reality Training Platform
Wrap Technologies (Nasdaq: WRAP) announced a collaboration with Wheaton College to utilize the WRAP Reality training platform for de-escalation training. This partnership, led by Professor David C. Iglesias, aims to align training programs with community values and enhance policing practices. CEO Tom Smith emphasized the collaboration's potential to improve officer preparedness in real-life situations. The company continues to innovate in public safety technologies, notably with its BolaWrap device and immersive training solutions.
- Collaboration with Wheaton College for de-escalation training enhances training credibility.
- Use of WRAP Reality platform positions the company as a leader in innovative law enforcement training.
- Potential risks mentioned regarding implementation and acceptance of new training programs.
- Dependence on community alignment and support for successful training outcomes.
TEMPE, Ariz., April 28, 2021 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (the "Company" or "WRAP") (Nasdaq: WRAP), a global leader in innovative public safety technologies and services, announced a collaboration agreement with Wheaton College, Wheaton, Illinois. The Center for Faith, Politics & Economics – an interdisciplinary program between the Departments of Business, Economics, Political Science, and International Relations at Wheaton College – will use the WRAP Reality training platform with students who will experience de-escalation training to help ensure programs are current and aligned with community values.
Professor David C. Iglesias, J.D., Director of Wheaton’s Center for Faith, Politics & Economics, former U.S. Attorney, retired Navy JAG Officer, and White House Fellow, will lead a research group focused on the impact of virtual reality training in policing and how the WRAP Reality platform can be most effective.
Professor Iglesias said, "During this time of heightened awareness of law enforcement, I am grateful to be part of this joint effort to teach students and contribute to innovative solutions in this space. Moreover, the ability to educate with disruptive technologies like WRAP Reality and the BolaWrap remote restraint device allows me to highlight the value of new yet effective de-escalation methods and tools which is what our police officers and communities need at this time."
“This is an outstanding opportunity to bring together world-class thought leaders to ensure our virtual reality training content is relevant, state-of-the-art, and able to make a difference for law enforcement and communities,” said Tom Smith, CEO of WRAP. “This collaboration will advance WRAP Reality in becoming the premier immersive training platform that prepares officers to approach real-life situations more safely.”
About WRAP
WRAP Technologies (Nasdaq: WRAP) is a global leader in innovating public safety technologies and services that deliver advanced solutions focused on avoiding escalation. The BolaWrap® Remote Restraint device, WRAP's first product, is a patented, hand-held device that discharges a Kevlar® tether to temporarily restrain from a safe distance. Through many field uses and growing adoption by agencies worldwide, BolaWrap is proving to be an effective tool to safely detain persons without injury. WRAP Reality, the Company's virtual reality training system, is an immersive training simulator and comprehensive public safety training platform designed to empower first responders with the necessary knowledge to perform in the field. WRAP's headquarters is located in Tempe, Arizona. For more information, please visit wrap.com.
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Trademark Information
BolaWrap, Wrap and Wrap Reality are trademarks of Wrap Technologies, Inc. All other trade names used herein are either trademarks or registered trademarks of the respective holders.
Cautionary Note on Forward-Looking Statements - Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: statements regarding the Company's overall business; total addressable market; and, expectations regarding future sales and expenses. Words such as "expect", "anticipate", "should", "believe", "target", "project", "goals", "estimate", "potential", "predict", "may", "will", "could", "intend", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ability to successful implement training programs for the use of its products; the Company's ability to manufacture and produce product for its customers; the Company's ability to develop sales for its new product solution; the acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company's product solution; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the ability to obtain export licenses for countries outside of the US; the ability to obtain patents and defend IP against competitors; the impact of competitive products and solutions; and the Company's ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company's most recent annual report on Form 10-K, quarterly report on Form 10-Q, and other SEC filings. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.
Contact:
Paul M. Manley
VP – Investor Relations
(612) 834-1804
pmanley@wrap.com
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