Maris-Tech Enters Into an Agreement With a Major Distributor in India
August 30 2023 - 8:00AM
Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech” or the
“Company”), a B2B provider of edge AI accelerated video solutions
for edge platforms, announced today that it entered into a
distribution agreement with Precision Electronics Ltd. (“PEL”) in
India, a leading systems integrator and value-added reseller for
C4I2SR solutions establishing PEL as master distributor for
Maris-Tech’s products in India, with the license to sell and
promote all Maris-Tech’s solutions and custom products as
determined by the Company.
" PEL is an established and experienced company, and as our
master distributor in India will facilitate the promotion and sales
of our unique, cutting-edge products. We are confident that this
agreement will expand the reach of Maris-Tech's innovative and
powerful solutions throughout India, and we look forward to a
mutually beneficial, productive and successful cooperation," said
Israel Bar, Chief Executive Officer of Maris-Tech.
"This is a unique opportunity for our company to promote
Maris-Tech's innovative AI edge computing and video streaming
solutions in India. The true potential of the Maris-PEL
partnership is to transform Electro-Optic Surveillance solutions in
India into “Smart” systems that enable better Situational Awareness
and Decision-making," added Nikhil Kanodia, PEL’s President.
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 future sales of
our products in India, our expansion in the Indian market and the
anticipated benefits of the agreement with PEL. 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 on March 6, 2023, 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:
Nir Bussy, CFOTel: +972-72-2424022
Nir@maris-tech.com
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