Duos Technologies Implements First Subscription Customer
13 7월 2023 - 9:00PM
Duos Technologies Group, Inc. (“Duos” or the
“Company”) (Nasdaq: DUOT), through its operating subsidiary Duos
Technologies, Inc. a provider of vision based analytical technology
solutions, today announced that it has implemented its first
subscription services agreement with a passenger transit operator.
In connection with the agreement, Duos will offer access to its
Railcar Inspection Portal (“rip®” or “RIP”) and optional artificial
intelligence (“AI”) detection models for key inspection points.
The initial agreement, renewable annually, is
initially valued at $300,000 and encompasses customer training,
installation, and railcar data services across up to three existing
Class 1 portals. With the signing of the first customer for the
subscription service, Duos expects to provide the same near
real-time inspection data and AI-based alerts that have been
developed and tested in conjunction with its Class 1 railroad
customers.
“We are actively engaged in expanding our
markets into both transit as well as railcar owners and lessors,”
said Duos Chief Executive Officer Chuck Ferry. “This initial
agreement is evidence that there is a market need for lower cost
but higher value services in which operators benefit from automated
near real-time inspection platforms that provide high quality data
for necessary safety inspections. We look forward to providing
updates on our continued progress as new portals and subscription
customers come online.”
Duos announced a new subscription service for
the rail industry including Class 1 Railroads, as well as car
owners/lessors and is currently engaged in discussions with
multiple railroads, railcar owners/lessors, and other potential
users to expand its offering.
To stay up to date on the Company's most recent
developments or to learn more about the Duos story and its
revolutionary technology platforms, be sure to follow here or sign
up for email alerts here. For more information please contact
DUOT@duostech.com or visit the Company's website and social media
channels: Website, LinkedIn, Twitter.
About Duos Technologies Group,
Inc.Duos Technologies Group, Inc. (Nasdaq: DUOT), based in
Jacksonville, Florida, through its wholly owned subsidiary, Duos
Technologies, Inc., designs, develops, deploys and operates
intelligent vision based technology solutions supporting rail,
logistics, intermodal and government customers that streamline
operations, improve safety and reduce costs. The Company provides
cutting edge solutions that automate the mechanical and security
inspection of fast-moving trains, trucks and automobiles through a
broad range of proprietary hardware, software, information
technology and artificial intelligence. For more information, visit
www.duostech.com.
Forward-Looking StatementsThis
news release includes 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,
regarding, among other things our plans, strategies and prospects
-- both business and financial. Although we believe that our plans,
intentions and expectations reflected in or suggested by these
forward-looking statements are reasonable, we cannot assure you
that we will achieve or realize these plans, intentions or
expectations. Forward-looking statements are inherently subject to
risks, uncertainties and assumptions. Many of the forward-looking
statements contained in this news release may be identified by the
use of forward-looking words such as "believe," "expect,"
"anticipate," "should," "planned," "will," "may," "intend,"
"estimated," and "potential," among others. Important factors that
could cause actual results to differ materially from the
forward-looking statements we make in this news release include
market conditions and those set forth in reports or documents that
we file from time to time with the United States Securities and
Exchange Commission. We do not undertake or accept any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in our
expectations or any change in events, conditions or circumstances
on which any such statement is based, except as required by law.
All forward-looking statements attributable to Duos Technologies
Group, Inc. or a person acting on its behalf are expressly
qualified in their entirety by this cautionary language.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/032dcfe8-0470-4997-bbc8-a5219b3b5425
Contacts
Corporate
Fei Kwong, Director, Corporate Communications
Duos Technologies Group, Inc. (Nasdaq: DUOT)
904-652-1625
fk@duostech.com
Investor Relations
Matt Glover or Tom Colton
Gateway Investor Relations
949-574-3860
DUOT@gateway-grp.com
Duos Technologies (NASDAQ:DUOT)
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