Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor"), a Maryland-based
company providing real-time roadway intelligence through AI-driven
decisions, and Mesa Technologies, LLC (“Mesa”) today announced a
five-year non-exclusive licensing agreement for the use of Rekor’s
intellectual property as part of a school bus stop arm system
(“SBSA”). Mesa has installed over 3000 photo enforcement systems
world-wide. Above an annual payment to Rekor of $1,120,000, Mesa
will be entitled to volume discounts that increase through to
20,000 units. The agreement is in place immediately and will
increase Rekor’s market penetration in the state, local government,
and international markets.
The partnership aims to increase student safety as more than
95,000 motorists run school bus stop-arms each day, according to
the National Association of State Directors of Pupil Transportation
Services. School buses remain the dominant form of daily
transportation for students. In the United States alone, there are
480,000 school buses that transport 26 million students per day to
schools. Recently 22 states have passed legislation allowing for
the electronic enforcement of SBSA violations.
Rekor’s SBSA vehicle recognition technology uses license
plate recognition (“LPR”) as the triggering mechanism while
analyzing video stream data to identify license plate characters
and other relevant information, such as: state/region/province of
jurisdiction as well as vehicle color, make, model, orientation and
body type. Initially, Mesa will integrate Rekor’s Watchman for
School Bus Stop-Arm (“SBSA”) programs in the Middle East and North
America. Watchman integrates with triggering mechanisms in the SBSA
device, creating images of vehicles and license plates that
identify violations of school bus stop-arm laws. Having vehicle
recognition in the SBSA system also provides the opportunity for
law enforcement to increase safety around school busses and school
bus stops.
Mesa’s SBSA technology, in coordination with Rekor’s real-time
vehicle recognition, not only identifies when vehicles encroach
upon the stop-arm, it also captures and records the violating
vehicle for evidence purposes. A robust chain-of-evidence package
is then used for issuance of citations or warnings in accordance
with local ordinances. Rekor’s AI-based algorithms dramatically
increase accuracy and information for law enforcement agencies and
school districts.
“This partnership scales Rekor’s potential market opportunities
in SBSA,” said Robert A. Berman, President and CEO of Rekor.
“Through this relationship with Mesa, we will be able to help gain
access to an extensive network of public safety customers seeking
to implement AI and machine learning-based solutions aimed at
increasing the safety of children in their communities.”
“Mesa is excited to incorporate Rekor’s Watchman technology
within our edge devices, including our SBSA systems. Best-in-class
accuracy and targeted identification of violations leads to more
efficient photo enforcement operations for law enforcement
agencies,” said Mesa Technologies Vice President Kevin Stanford.
“At the end of the day, we want our children to be safe. Our SBSA
System, powered by Rekor’s real-time vehicle recognition technology
will be a game-changer in delivering powerful solutions to our
customers quickly and cost-effectively.”
To learn more about Rekor, please visit our website:
rekor.ai.
Forward-Looking StatementsThis 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.
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 informed decisions faster, and 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 by our clients. 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: https://rekor.ai.
About Mesa Technologies, LLC Mesa Technologies
is a manufacturer of traffic safety and monitoring systems that
brings forty years of experience and innovation to the engineering
profession. Founded on discovering ways to apply new technology to
existing issues in order to continuously solve problems and improve
operations within every industry. http://mesa-engr.com/
Media Contacts:Robin BectelREQ For Rekor
Systemsrekor@req.co
Investor Contacts: Charles Degliomini Rekor
Systems, Inc.ir@rekor.ai
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