Rekor Secures $160,000 Contract from United States Department of Defense to Increase Deployment of Rekor Technology
June 22 2020 - 7:30AM
Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor") (“the Company”), a
Maryland-based company providing real-time roadway intelligence
through AI-driven decisions, today announced that the U.S.
Department of Defense (DOD) has authorized $160,000 for the
purchase of the Company’s vehicle recognition software. These
licenses will allow Rekor’s AI-powered vehicle recognition software
to be deployed quickly to existing cameras to support national
security efforts.
“When it comes to national security, the
Department of Defense has exacting standards,” said Robert A.
Berman, President and CEO, Rekor. “Knowing the wide range of
solutions they have at their disposal, we are pleased they are
continuing to expand their use of Rekor’s best-in-class, machine
learning and artificial intelligence-based vehicle recognition
software.”
The Company’s leading-edge vehicle recognition
software will support the DOD’s national security mission. Rekor
enables vehicle recognition through most IP cameras. Supported by
machine learning from its robust database covering over 70
countries, the software can identify, in real time, vehicle license
plate data, along with the color, make, model and body type of the
vehicle to provide the highest level of accuracy.
“The national defense market is an important one
for Rekor," said Eyal Hen, Chief Financial Officer, Rekor. "This
additional order from the Department of Defense is another example
of the increases in revenue being generated from our existing base
of vehicle recognition customers, which is being accelerated by the
continued success of our go-to-market strategy.”
To learn more about Rekor, please visit
www.rekor.ai.
About Rekor Systems, Inc. Rekor (Nasdaq: REKR)
is a Maryland-based company providing real-time roadway
intelligence through AI-driven decisions. Rekor bridges commercial
and government sectors with actionable, real-time vehicle
recognition data to enable faster, better informed decisions with
greater outcomes. Rekor is transforming industries like Public
Safety, Customer Experience, and Smart Cities in more than 70
countries across the globe with smarter, quicker, cost-competitive
vehicle recognition solutions for security, revenue discovery and
recovery, public safety, electronic toll collection, brand loyalty,
parking operations, logistics, and traffic management. We use the
power of artificial intelligence to analyze video streams and
transform them into AI-driven decisions. Our machine learning
software can turn most IP cameras into highly accurate and
affordable vehicle recognition devices used to help protect lives,
increase brand loyalty, and enhance operations and logistics,
without the need to install expensive new infrastructure. We make
what was once considered impossible, possible. To learn more please
visit our website: http://www.rekor.ai
Forward-Looking Statements
This press release includes statements
concerning Rekor Systems, Inc. and its future expectations, plans
and prospects that constitute "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the impact of Rekor's core
suite of AI-powered technology and the size of the market for
global ALPR systems. Such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. For this purpose, any statements
that are not statements of historical fact may be deemed to be
forward-looking statements. In some cases, you can identify
forward-looking statements by terms such as "may," "should,"
"expects," "plans," "anticipates," "could," "intends," "target,"
"projects," "contemplates," "believes," "estimates," "predicts,"
"potential," or "continue," by the negative of these terms or by
other similar expressions. You are cautioned that such statements
are subject to many risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those
projected in the forward-looking statements, including the risks
that actual circumstances, events or results may differ materially
from those projected in the forward-looking statements,
particularly as a result of various risks and other factors
identified in our filings with the Securities and Exchange
Commission. All forward-looking statements contained in this press
release speak only as of the date on which they were made and are
based on management's assumptions and estimates as of such date. We
do not undertake any obligation to publicly update any
forward-looking statements, whether as a result of the receipt of
new information, the occurrence of future events, or otherwise.
Media Contacts:
Emily BurdeshawREQ For Rekor Systemsrekor@req.co
Investor Contacts:
Charles Degliomini Rekor Systems, Inc. ir@rekor.ai
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