Iteris Awarded $2 Million Contract by City of Concord for Smart Mobility, Safety and Sustainability Initiative
May 03 2022 - 8:30AM
Business Wire
Multi-year Project Will Implement Advanced
Detection Systems to Improve Traffic Flow and Safety, and Reduce
Emissions Across the Northern California City
- Program leverages Iteris’ smart mobility infrastructure
management expertise to support region’s goal of improving safety
and mobility for all road users, while increasing sustainability
across key signalized intersections in Concord,
California.
- Iteris’ Vantage Vector video and radar detection systems
differentiate between vehicles, bicyclists and pedestrians,
enabling city to adjust traffic signal timing to accommodate
slower-moving road users, and minimize congestion and
delays.
- Deal represents continued demand for Iteris’ advanced
detection systems in a key geographic market.
Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology
ecosystem for smart mobility infrastructure management, today
announced that it has been awarded a $2 million contract by the
City of Concord for a smart mobility, safety and sustainability
program representing continued demand for Iteris’ advanced
detection systems in northern California, a key geographic
market.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220503005259/en/
Iteris Awarded $2 Million Contract by
City of Concord for Smart Mobility, Safety and Sustainability
Initiative (Photo: Business Wire)
Under the terms of the five-year contract, which is extendable
for two additional one-year periods, Iteris will upgrade key
intersections and arterials in Concord, California with hybrid
video and radar detection systems to support the city’s goals of
improving traffic flow and safety, and reducing carbon
emissions.
With Iteris’ Vantage Vector® hybrid video and radar detection
systems, the City of Concord will be able to differentiate between
vehicles, bicyclists and pedestrians to improve mobility and safety
for all road users, while saving money.
In addition to its ability to differentiate between vehicles,
bicyclists and pedestrians for rich data and insights on trends in
traffic volumes and modes of transportation, the Vantage Vector
system has high-precision radar sensing technology that enables
dilemma zone and red-light running safety applications. Vantage
Vector’s advanced dilemma zone and red-light running detection
capabilities help reduce the risks of rear-end and right-angle
collisions by either extending a signal phase to give drivers more
time to react or enabling an all-red phase, pausing traffic until
the intersection is cleared.
This combination of smart mobility technologies will enable the
city to adjust traffic signal timing to accommodate slower-moving
road users, and minimize congestion and delays. The reduced
congestion, as well as the ability to reduce the risk of collisions
at the intersection, will help to improve safety, while also
improving air quality through reductions in carbon emissions.
“We are thrilled to support the City of Concord’s goal of
improving safety and mobility for drivers, cyclists and
pedestrians, while maximizing efficiency and improving air quality
along these key signalized intersections,” said Brian Girardot,
regional vice president, sales at Iteris. “This new contract, which
is testament to the spirit of innovation at the City of Concord,
demonstrates increasing demand for Iteris’ leading solutions for
the smart mobility infrastructure management market and underscores
the city’s commitment to a technology framework that will serve its
communities for decades to come.”
Vantage Vector is a key component of the ClearMobility™ Platform
– the world’s most complete solution to continuously monitor,
visualize and optimize mobility infrastructure. ClearMobility
applies cloud computing, artificial intelligence, advanced sensors,
advisory services and managed services to help ensure roads are
safe, travel is efficient, and communities thrive.
About Iteris, Inc.
Iteris is the world’s trusted technology ecosystem for smart
mobility infrastructure management. Delivered through Iteris’
ClearMobility Platform, our cloud-enabled end-to-end solutions
monitor, visualize and optimize mobility infrastructure around the
world, and help bridge legacy technology silos to unlock the future
of transportation. That’s why more than 10,000 public agencies and
private-sector enterprises focused on mobility rely on Iteris every
day. Visit www.iteris.com for more information, and join the
conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak
only as of the date hereof and are based upon our current
expectations and the information available to us at this time.
Words such as "believes," "anticipates," "expects," "intends,"
"plans," "seeks," "estimates," "may," “should,” “will,” "can," and
variations of these words or similar expressions are intended to
identify forward-looking statements. These statements include, but
are not limited to, statements about the awarded contract and
capabilities and benefits of our detection systems. Such statements
are not guarantees of future performance and are subject to certain
risks, uncertainties, and assumptions that are difficult to
predict, and actual results could differ materially and adversely
from those expressed in any forward-looking statements as a result
of various factors.
Important factors that may cause such a difference include, but
are not limited to, our ability to provide our services and
products in a cost-efficient manner; government funding and
budgetary delays, issues and timing; challenges in the development
of software-based solutions generally; the adverse impacts of
general economic, political and other conditions in the markets we
address; and the potential impact of product and service offerings
from competitors and such competitors’ patent coverage and claims.
Further information on Iteris, Inc., including additional risk
factors that may affect our forward-looking statements, is
contained in our Annual Report on Form 10-K, our Quarterly Reports
on Form 10-Q, our Current Reports on Form 8-K, and our other SEC
filings that are available through the SEC’s website
(www.sec.gov).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220503005259/en/
Media Contact P-A Rebeyrat Tel: (949) 270-9655 Email:
PRebeyrat@iteris.com
Investor Relations MKR Investor Relations, Inc. Todd
Kehrli Tel: (213) 277-5550 Email: iti@mkr-group.com
Iteris (NASDAQ:ITI)
Historical Stock Chart
From Apr 2024 to May 2024
Iteris (NASDAQ:ITI)
Historical Stock Chart
From May 2023 to May 2024