Omniq Announces A Purchase Order To Deploy Its AI-Based Machine Vision Vehicle Recognition Solution (VRS) In A Large-Scale Safe District In South America.
April 19 2022 - 8:45AM
OMNIQ CORP.
(NASDAQ:OMQS) announced
today it was awarded a follow on contract to from a global leading
high-end defense solutions, enterprise to deploy OMNIQ’s AI based
Machine Vision solution in a district of Uruguay, to provide a Safe
District project. The project spans across six municipal
authorities, including a well-known tourist resort. The successful
project started approximately four years ago and now local
authorities decided to extend the project and order additional
systems from omniQ and upgrade with additional new features offered
by omniQ.
The Safe District project includes OMNIQ’s
sensors with AI based Vehicle Recognition System that will allow
the operators of the control room to obtain real-time data from the
field and alert law enforcement officials, including logistics and
emergency personnel, in conjunction with the nature of the
event.
OMNIQ’s patented AI Neural Network based
algorithm Imitates the Human Eyes and Brain and is Capable of
Detecting, Analyzing and Recognizing Patterns including License
Plates and car model and make. OMNIQ’s system is deployed in many
sensitive spots worldwide for crime and terror prevention, law
enforcement, access control and automation of parking.
Recently the Company published the City of
Adrian Chief of Police statement, claiming OMNIQ’s AI Machine
Vision system is: “..a major force multiplier. If you're looking
into it and you really want to have something like this, you can't
afford not to…” (please see company’s press release from April 13,
2022)
“We are proud to have won this Safe District
contract, demonstrating once again the value of our AI based
solution for a variety of verticals with multibillion dollars
potential. I am sure that many more customers have similar needs
and hope will follow the Uruguay authorities, the Israeli
Government and the Cities in the US that already contracted us and
will choose our sophisticated “battle proven” solution as the means
to improve public safety.” Commented Mr. Shai Lustgarten, CEO of
OmniQ Corp.
About omniQ Corp.
omniQ Corp. (Nasdaq: OMQS) 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, and oil, gas, and
chemicals. Since 2014, annual revenues have grown to more than $50
million from clients in the USA and abroad.
The Company currently addresses several
billion-dollar markets, including the Global Safe City market,
forecast to grow to $29 billion by 2022, and the Ticketless Safe
Parking market, forecast to grow to $5.2 billion by 2023. For more
information, visit www.omniq.com.
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. 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.
Koko
Kimball(385)-758-9241kkimball@omniq.com
OMNIQ (NASDAQ:OMQS)
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