Maris-Tech Launching New Partnership with Art of Logic in Australia to Expand Global Reach of Maris Edge AI- Accelerated Video Solutions
March 21 2023 - 9:24AM
Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the
"Company"), a B2B provider of intelligent video transmission
technology with AI acceleration for edge platforms, today announced
the signing of a collaboration agreement with Art of Logic ("AOL"),
an Australian company, leveraging the latest computer vision and
machine learning to enable smart solutions to solve critical
business outcomes.
The collaboration agreement focuses on enhanced technology
combining, which will allow Maris- Tech to offer AI applications on
its Maris-Edge platforms in addition to its intelligent video
transmission technology.
AOL will be appointed as Maris- Tech exclusive representative in
Australia and New Zealand, subject to the entry into a definitive
agreement, and granted non-exclusive worldwide license to rebrand,
promote and resell the products it purchases from Maris-Tech. In
addition, AOL's wide presence in Australia and New Zealand will
enable Maris- Tech to offer its AI and video based solutions to
companies in the defense, space and Home Land Security ("HLS")
sectors.
AOL will also develop Maris- Tech’ customer’s AI applications
and will provide support to Maris-Tech’s customers, which intend to
develop their own applications of the Hailo AI accelerator or had
already-developed AI applications, from a certain AI accelerators
to the Hailo accelerator.
“As we embarked on our expansion strategy in
Oceania, as a part of Maris- Tech's expansion into new territories,
having a strong partner such as AOL is essential for our innovation
to reach leaders in the Australian market. Prior to this agreement,
AOL has placed a $660,000 order as a customer for our low latency
video encoding and decoding AI- based product, the Onyx,” said
Israel Bar, Chief Executive Officer of Maris-Tech.
"The agreement with AOL is aligned with our global
mission of connecting with market leaders that have compelling and
competitive advantages that can facilitate in our expansion,
including providing their own unique solutions and services to
support our efforts. It is our intention to continue pursuing
similar strategic partnerships in additional major territories in
order to support the Company's growth,” continued Mr. Bar.
Art of Logic is a research and development technology wholesaler
specializing in developing and manufacturing customized hardware
and software systems for system integrators across the globe.
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 agreement
with AOL, entry into a definitive agreement, that the agreement
will allow us to offer AI applications on our Maris-Edge platforms
in addition to its intelligent video transmission technology, that
AOL’s wide presence in Australia and New Zealand will enable us to
offer our AI and video based solutions to companies in the defense,
space and HLS sectors, our global mission, our intention to
continue pursuing similar strategic partnerships in additional
major territories in order to support our growth . 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, 2022,
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- IR Investor Relations,
Israel
+972-72-2424022 ir@maris-tech.com
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