Wrap Announces Extension of LAPD BolaWrap Pilot Program

Rhea-AI Summary

Wrap Technologies, Inc. (Nasdaq: WRAP) announced a significant advancement in the deployment of its BolaWrap 150 devices with the Los Angeles Police Department (LAPD). The large-scale field deployment involves 500 units across Hollywood and Central divisions, following training conducted in April and May 2022. This initiative aims to enhance officers' ability to de-escalate situations safely without using force, reflecting Wrap's commitment to innovative public safety technology. CEO TJ Kennedy highlighted the partnership's potential to support community policing efforts.

Positive

• LAPD initiates large-scale deployment of 500 BolaWrap 150 devices, enhancing public safety.
• The BolaWrap 150 provides officers with effective tools for safe de-escalation of challenging situations.
• Increased adoption of BolaWrap indicates growing confidence in its effectiveness among law enforcement agencies.

Negative

• None.

TEMPE, Ariz., Aug. 24, 2022 (GLOBE NEWSWIRE) --  Wrap Technologies, Inc. (Nasdaq: WRAP) (the “Company”), a global leader in innovative public safety technologies and services, today announced that the next deployment phase of the Los Angeles Police Department’s (LAPD) BolaWrap Pilot program has now moved into a large-scale field deployment with (500) BolaWrap 150 devices in two important City of Los Angeles divisions.

LAPD conducted their BolaWrap 150 instructor training in April 2022, with field officer training taking place in May 2022. Full deployment of the (500) new BolaWrap 150 devices to their Hollywood and Central divisions has begun. The trained officers will take their new devices into service providing enhanced remote restraint tools that will empower them to de-escalate certain situations and safely take subjects into custody.

“Our team is excited to join the LAPD in this next step in their pilot program of the BolaWrap 150 force avoidance tool,” said Wrap CEO, TJ Kennedy. “We believe the large deployment of the BolaWrap 150 devices in these two prominent Los Angeles divisions will support successful outcomes for the LAPD. We are proud to partner with the LAPD in their journey for safer community policing that implements innovative technologies around the avoidance of force.”

LAPD Assistant Chief Dominic Choi said, “We are looking forward to deploying the new BolaWrap 150 force avoidance tool in the field during this pilot program. This is an opportunity for the LAPD to provide officers with an alternative instrument to safely de-escalate challenging situations and bring subjects into custody without having to use force.”

About LAPD
The Los Angeles Police Department is one of the largest and most innovative law enforcement agencies in the world. It is responsible for providing police service to an area encompassing 468 square miles and 21 community areas, representing approximately over 4 million residents as of 2022. To learn more about LAPD, visit https://www.lapdonline.org/.

About Wrap
Wrap Technologies (Nasdaq: WRAP) is a global leader in innovative public safety technologies and services. Wrap develops creative solutions to complex issues and empowers public safety officials to protect and serve their communities through its portfolio of advanced technology and training solutions. 

Wrap’s BolaWrap® Remote Restraint device is a patented, hand-held pre-escalation and apprehension tool that discharges a Kevlar® tether to temporarily restrain uncooperative suspects and persons in crisis from a distance. Through its many field uses and growing adoption by agencies across the globe, BolaWrap is proving to be an effective tool to help law enforcement safely detain persons without injury or the need to use higher levels of force.

Wrap Reality, the Company’s virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform providing first responders with the discipline and practice in methods of de-escalation, conflict resolution, and use-of-force to better perform in the field.

Wrap’s headquarters are in Tempe, Arizona. For more information, please visit wrap.com.

Connect with Wrap:
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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 impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties 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:
Chris DeAlmeida
cdealmeida@wrap.com
+1 713.540.0616

Media Contact: media@wrap.com

FAQ

What is the significance of WRAP's BolaWrap deployment with LAPD?

The deployment of 500 BolaWrap 150 devices with LAPD represents a major step in implementing innovative public safety technologies aimed at reducing the need for force.

When did LAPD begin training with the BolaWrap 150 devices?

LAPD conducted instructor training in April 2022, followed by field officer training in May 2022.

How many BolaWrap devices are being deployed in Los Angeles?

The deployment involves 500 BolaWrap 150 devices across the Hollywood and Central divisions of LAPD.

What is the purpose of the BolaWrap 150?

The BolaWrap 150 is designed to provide officers with an alternative to force when apprehending uncooperative individuals, facilitating safer community interactions.

What is the stock symbol for Wrap Technologies?

Wrap Technologies trades under the stock symbol WRAP on Nasdaq.