Maris-Tech Receives Purchase Order of $1.1 Million from a Leading Israeli Defense Company
December 27 2022 - 9:00AM
Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech” or the "Company"), a
B2B provider of intelligent video transmission technology with AI
acceleration for edge platforms, today announced a major milestone
with the receipt of a $1.1 million purchase order for a derivative
product of its Jupiter AI platform, from a leading Israeli defense
company customer, an existing customer of the Company.
The order received for the Company's new product, Jade, which is
based on a Jupiter AI derivative platform, an advanced and
multi-stream codec, is the result of a tight and efficient
integration between Maris-Tech’s Jupiter-Nano and Hailo’s Hailo-8™
AI accelerator with up to 26 tera operations per second (TOPS).
This integration provides an ultimate hardware and software
solution for remote platforms, named “Maris Edge,” enabling video
streaming, recording, debriefing and AI at the edge.
“We are extremely proud to have received this purchase order
from a respected Israeli defense company which has been
working with us for a couple of years. This is the largest purchase
order the company has received so far." said Israel Bar, Chief
Executive Officer of Maris-Tech. "Jupiter AI is a powerful and
reliable platform, and we are confident that it will deliver
exceptional results for our customer. We are excited to see the
impact it will have on their operations and look forward to future
opportunities to work together."
"Maris-Tech is committed to continuing to innovate and deliver
top-quality Edge AI video streaming solutions to its customers and
looks forward to future growth and success," Bar added.
According to Allied Market Research, the video analytics market
is expected to reach $21.7 billion by 2027, registering compound
annual growth rate (CAGR) of 22.7% from 2020 to 2027. This growth
is being driven by the lightning-speed adoption of AI technologies,
the popularity of autonomous platforms, and the need for edge
computing to process the masses of data being generated in
real-time from these platforms.
About Maris-Tech Ltd.
Maris-Tech is a B2B provider of intelligent video transmission
technology, founded by veterans of the Israel technology sector
with extensive electrical engineering and imaging experience. Our
products are designed to meet the growing demands of commercial and
tactical applications, delivering high-performance, compact, low
power and low latency solutions to companies worldwide, including
leading electro-optical payload, RF datalink and unmanned platform
manufacturers as well as defense, HLS, and communication companies.
For more information, visit https://www.maris-tech.com/.
Forward-Looking Statement Disclaimer
This press release contains “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, that are intended to be covered by the “safe harbor”
created by those sections. Forward-looking statements, which are
based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as “believe,” “expect,” “may,”
“should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,”
“anticipate” or other comparable terms. For example, we are using
forward-looking statements when we are discussing the purchase
order placed from the leading Israeli defense company, the
potential impact the platform of the Jupiter AI will have on our
customer’s operations and the future opportunities to work
together. Forward-looking statements are neither historical facts
nor assurances of future performance. Instead, they are based only
on our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our ability to successfully
market our products and services, including in the United States;
the acceptance of our products and services by customers; our
continued ability to pay operating costs and ability to meet demand
for our products and services; the amount and nature of competition
from other security and telecom products and services; the effects
of changes in the cybersecurity and telecom markets; our ability to
successfully develop new products and services; our success
establishing and maintaining collaborative, strategic alliance
agreements, licensing and supplier arrangements; our ability to
comply with applicable regulations; and the other risks and
uncertainties described in the Annual Report on Form 20-F for the
year ended December 31, 2021, filed with the SEC and our other
filings with the SEC. We undertake no obligation to publicly
update any forward-looking statement, whether written or oral, that
may be made from time to time, whether as a result of new
information, future developments or otherwise.
Investor Relations:
Michal Efraty,Adi and Michal PR- IRInvestor Relations,
Israel
+972-72-2424022ir@maris-tech.com
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