Maris-Tech Announces Expansion of Commercial Activity in the U.S. Defense Market
October 16 2023 - 8:10AM
Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) ("Maris-Tech" or the
"Company"), a B2B provider of artificial intelligence (“A.I.”)
accelerated video solutions for edge platforms, today
announced significant steps toward expansion of its activity
in the U.S. market. The Company announced the appointment of Adam
Emanuel of Emanuel & Associates, Inc., located in Washington,
D.C., to Maris-Tech's Advisory Board and the Company’s partnership
with him and Altagrove LLC (“Altagrove”), a defense and space
manufacturing company that delivers smart and innovative technology
solutions to create competitive customer advantages, located in
Virginia, to facilitate the marketing of its products in the U.S.
governmental and defense market.
Adam Emanuel has over 30 years of experience in aerospace
defense and homeland security in the U.S. federal market space,
representing both U.S. and major Israeli companies. He has
facilitated joint programs between the U.S. and Israeli
governments, accompanying the entire process, including advocacy on
Capitol Hill, funding, competition, and the Americanization of
technology.
Maris-Tech's high-performance edge-AI computing and low-latency
video streaming solutions for integration on remote platforms are
meeting and exceeding the requirements of North American
manufacturers and defense contractors in both the commercial and
defense markets. The Company's flagship products and innovative
technologies were recently showcased at the Commercial UAV Expo in
Las Vegas, a leading international trade show and conference, and
will be showcased at the Milipol Expo in Paris.
Israel Bar, CEO of Maris-Tech, commented on the new appointment,
saying, "The growing global market for video-based Edge Computing
solutions, coupled with the interest in Maris-Tech's unique,
powerful solutions incorporating video streaming and AI
acceleration for autonomous remote platforms, has opened exciting
new opportunities for Maris-Tech to expand the Company's global
operations. We are happy to partner with Adam Emanual and are
certain that his vast experience and deep market knowledge will be
a valuable driving force to further our expansion into the U.S.
defense market. Adam and our other Advisory Board members – Mr. Nir
Ben Moshe and Mr. Les Litwin- strengthen our Advisory Board,
assisting Maris-Tech with penetrating new markets."
Adam Emanuel said, "I look forward to assisting and leveraging
my expertise in the U.S. market to advance Maris-Tech's unique
solutions. Maris-Tech's field-proven products have already been
widely adopted worldwide, and I am excited to bring them to the
U.S., facilitated by Altagrove as lead systems integrator."
About Maris-Tech Ltd.
Maris-Tech is a B2B provider of video streaming and AI
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 partnership
with Altagrove, the contribution of Adam Emanuel in promoting the
Company’s expanstion into the U.S. defense market and the growing
interest in our unique, powerful solutions. 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, CFO Tel: +972-72-2424022 Nir@maris-tech.com
Maris Tech (NASDAQ:MTEKW)
Historical Stock Chart
From Aug 2024 to Sep 2024
Maris Tech (NASDAQ:MTEKW)
Historical Stock Chart
From Sep 2023 to Sep 2024