Xtract One Technologies Secures Contracts with NBA, MLB & NHL Teams Following New U.S. DHS SAFETY Act Designation
Xtract One Technologies (TSX: XTRA, OTCQX: XTRAF, FRA: 0PL) has secured contracts with NBA, MLB, and NHL teams following its recent U.S. DHS SAFETY Act designation for its SmartGateway technology. This tech, which utilizes AI to enhance patron security and experience, was chosen for its ability to seamlessly integrate into high-traffic venues. The selection process included rigorous evaluations validating Xtract One's position as a leader in security solutions. The QATT certification was pivotal in vendor selection, demonstrating the efficacy of their anti-terrorism measures. CEO Peter Evans highlighted the accelerated business development post-certification and the growing demand for innovative security solutions.
- Secured contracts with NBA, MLB, and NHL teams, expanding market presence.
- DHS SAFETY Act designation validates SmartGateway as Qualified Anti-Terrorism Technology.
- QATT certification mandatory for vendor selection by MLB and NHL, boosting credibility.
- Rigorous testing and third-party validations affirm industry leadership in security tech.
- SmartGateway enhances security while optimizing patron experience with AI-powered screening.
- Accelerated business development post-QATT certification, indicating growing demand.
- No detailed financial data provided to evaluate the immediate impact on revenue.
- Potential high costs associated with rigorous testing and integration processes.
- Dependence on DHS certification could pose risks if compliance requirements change.
Teams and Venues Prioritize Safe and Streamlined Patron Experience with Xtract One’s SmartGateway
TORONTO, June 06, 2024 (GLOBE NEWSWIRE) -- Xtract One Technologies (TSX: XTRA)(OTCQX: XTRAF)(FRA: 0PL) (“Xtract One” or the “Company”), a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, today announced contracts with teams representing Major League Baseball (MLB), the National Hockey League (NHL), and National Basketball Association (NBA). These contracts were awarded following Xtract One’s recent announcement that SmartGateway has been designated as a U.S. Department of Homeland Security (DHS) SAFETY Act Qualified Anti-Terrorism Technology (QATT).
After undergoing thorough evaluation processes for each organization, Xtract One was ultimately selected by these NBA, MLB, and NHL teams who share the Company’s dedication to prioritizing security first, and providing state-of-the-art security solutions to amplify fan safety and overall experience. For each organization, the selection process entailed rigorous testing, including red teaming assessments and consultations with third-party testing sites, which validated Xtract One's position as an industry leader in security technology. The nature of Xtract One's technology, which was designed for high throughput venues, allows for seamless integration. This factor played a crucial role in the decision-making process for these professional sports league organizations.
“Since receiving our DHS SAFETY Act designation, we’ve been able to further expand our customer base of forward-thinking, innovative venues and organizations, and demand continues to increase,” said Peter Evans, CEO of Xtract One Technologies. “Working together with teams in the NBA, MLB, and NHL allows us to bring our innovative technology to a larger scale across the United States and put patron and community safety at the forefront for games all season long. Our business development activity with such organizations, which had begun prior to the DHS designation, has accelerated greatly since then, and we look forward to serving a multitude of teams going forward.”
Xtract One’s QATT certification, a mandatory requirement for vendor selection by several organizations including the MLB and NHL, validates the efficacy of the Company’s innovative security solutions in safeguarding public spaces against advanced modern threats. Just over a month since the certification was granted, Xtract One secured these three new customers within the NBA, MLB, and NHL. These new partnerships demonstrate the Company’s growing list of innovative customers across different sectors, and the trust these organizations have in the SmartGatway security solution for the professional sports industry.
Xtract One's SmartGateway revolutionizes event security by replacing intimidating, traditional metal detectors with fast, reliable, and seamless screening solutions for large, ticketed venues. Leveraging AI-powered sensors, SmartGateway discreetly and accurately scans patrons for weapons and other prohibited items as they walk through, eliminating the need to empty pockets and optimizing their experience by reducing time spent in security lines. This cutting-edge system improves entry efficiency, enabling entry times up to ten times quicker than traditional methods, and creates safer spaces without compromising guests' comfort.
To learn more, visit www.xtractone.com.
About Xtract One
Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive threat detection systems that enable venue building operators to prioritize and deliver improved patron experiences while providing unprecedented safety. Xtract One’s innovative Gateway product enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic. Its AI-based software allows venue and building operators to identify weapons and other threats inside and outside of facilities, and receive valuable intelligence for optimizing operations. For more information, visit www.xtractone.com or connect on LinkedIn, X, and Facebook.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, but are not limited to, the risks detailed from time to time in the continuous disclosure filings made by the Company with securities regulations. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
For further information, please contact:
Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com
Investor Relations: Chris Witty, Darrow Associates, cwitty@darrowir.com, 646-438-9385
Media Contact: Kristen Aikey, JMG Public Relations, kristen@jmgpr.com, 212-206-1645
FAQ
What recent contracts has Xtract One Technologies secured?
What is the significance of the DHS SAFETY Act designation for Xtract One?
How does Xtract One's SmartGateway improve event security?
What role did the QATT certification play in Xtract One's recent contracts?
How has Xtract One's business development been impacted post-certification?
