OMNIQ’S AI-BASED MACHINE VISION SOLUTION ORDERED FOR JFK, LA GUARDIA, NY STEWART, AND NEWARK AIRPORT UPGRADES.
November 15 2023 - 10:00AM
OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the
Company”), a provider of Artificial Intelligence (AI)-based
solutions, today announced that the Company’s AI-based Machine
Vision solution is being ordered for an upgrade program at the Port
Authority of New York and New Jersey (PANYNJ) four major airports.
The Company and its partner DESIGNA are working
together on a collaborative agreement to further the success of
PANYNJ. The collaboration completes a technology upgrade of the
VRS-Vehicle Recognition Systems at four airports, including the
addition of the latest AI neural network deep learning engine
developed by omniQ’s scientists.
Shai Lustgarten, CEO, stated “An additional
strong vote of confidence from some of the most important airports
in the world proving again that where quality matters, omniQ is
selected again and again. The PANYNJ upgrade program is intended to
improve the accuracy of the parking systems throughout the
airports, as well as to improve traveler convenience. Increasing
the accuracy and speed of transactions allows customers to
enter/exit and find their cars in a quicker and more efficient
manner. The project also improves the convenience for passengers
with lost or misplaced vehicles and tickets. As we have already
deployed our AI system in over 60 airports in the US, we expect
many of them to follow PANYNJ and order our new generation for
their parking and security operations. We are excited to partner
with DESIGNA and their talented team to help future-proof the
PANYNJ vehicle access and revenue control program that was
originally deployed several years ago. We look forward to expanding
our partnership as well as potential future projects with DESIGNA
to upgrade and enhance airports and other parking venues”.
About OMNIQ Corp:
omniQ Corp. provides computerized and machine
vision image processing solutions that use patented and proprietary
AI technology to deliver data collection, real-time surveillance
and monitoring for supply chain management, homeland security,
public safety, traffic & parking management, and access control
applications. The technology and services provided by the Company
help clients move people, assets, and data safely and securely
through airports, warehouses, schools, national borders, and many
other applications and environments.
omniQ’s customers include government agencies
and leading Fortune 500 companies from several sectors, including
manufacturing, retail, distribution, food and beverage,
transportation and logistics, healthcare, oil, gas, and
chemicals.
The Company currently addresses several
billion-dollar markets, including the Global Safe City market,
forecast to grow to $67.1 billion by 2028, and the smart parking
market, forecasted to grow to $16.4 billion by 2030 and the
fast-casual restaurant sector expected to reach $209 billion by
2027.
The technology and services provided by OMNIQ
help clients move people, assets, and data safely and securely
through airports, warehouses, schools, national borders, and many
other applications and environments.
For more information please
visit www.omniq.com.
About DESIGNA Corp:
DESIGNA is a world market leader in fully
automated parking systems that redefines parking management
technology and innovation. Based out of Kiel, Germany DESIGNA
systems facilitate the management and parking in more than 17,500
complexes throughout the world. From individual covered car parks
to systems that run thousands or airport parking spaces or
integrated city network systems.
Information about Forward-Looking
Statements
“Safe Harbor” Statement under the Private
Securities Litigation Reform Act of 1995. Statements in this press
release relating to plans, strategies, economic performance and
trends, projections of results of specific activities or
investments, and other statements that are not descriptions of
historical facts may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934.
This release contains “forward-looking
statements” that include information relating to future events and
future financial and operating performance. The words “anticipate”,
“may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,”
“potential” and similar expressions and variations thereof are
intended to identify forward-looking statements. Forward-looking
statements should not be read as a guarantee of future performance
or results and will not necessarily be accurate indications of the
times at, or by, which that performance or those results will be
achieved. Forward-looking statements are based on information
available at the time they are made and/or management’s good faith
belief as of that time with respect to future events and are
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. Examples of
forward-looking statements include, among others, statements made
in this press release regarding the closing of the private
placement and the use of proceeds received in the private
placement. Important factors that could cause these differences
include, but are not limited to: fluctuations in demand for the
Company’s products particularly during the current health crisis,
the introduction of new products, the Company’s ability to maintain
customer and strategic business relationships, the impact of
competitive products and pricing, growth in targeted markets, the
adequacy of the Company’s liquidity and financial strength to
support its growth, the Company’s ability to manage credit and debt
structures from vendors, debt holders and secured lenders, the
Company’s ability to successfully integrate its acquisitions, and
other information that may be detailed from time-to-time in OMNIQ
Corp.’s filings with the United States Securities and Exchange
Commission. Examples of such forward looking statements in this
release include, among others, statements regarding revenue growth,
driving sales, operational and financial initiatives, cost
reduction and profitability, and simplification of operations. For
a more detailed description of the risk factors and uncertainties
affecting OMNIQ Corp., please refer to the Company’s recent
Securities and Exchange Commission filings, which are available
at https://www.sec.gov. OMNIQ Corp. undertakes no obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
unless otherwise required by law.
Contact Info:IR@omniq.com
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