Contract expands IRD’s VWS Solution in the North American Commercial Vehicle Enforcement Market
SASKATOON, SK, Nov. 25, 2020 – International Road Dynamics Inc. (“IRD”), a Quarterhill Inc. (“Quarterhill”) company (TSX: QTRH) (OTCQX: QTRH), announced today that the Oklahoma Department of Transportation (ODOT) has authorized IRD to move forward with the installation of a VWS System. The financial terms of the contract are confidential.
The VWS System includes two lanes that will be instrumented with IRD's turnkey Weigh-In-Motion (WIM) Systems. The project is expected to commence in the first quarter of 2021, and once implemented, IRD will maintain the system for a five-year period.
Mr. Rish Malhotra, IRD’s President and CEO commented: “Our VWS System is a leader in generating transportation intelligence. It enables the collection of real-time traffic data which can be used for the enforcement of overweight vehicles and to enhance overall road safety. This project builds on the previous deployments of four Port-of-Entry Electronic Screening Systems in Oklahoma and we are pleased to expand our relationship with ODOT.”
IRD’s turnkey WIM Systems are integrated with Automated License Plate Readers, Automated USDOT Number Readers, and Vehicle Overview Cameras. These systems will be used to detect and screen commercial vehicles, in real time, for size, weight, and safety. IRD’s System uses an Intelligent Roadside Operations Computer (iROC) for Electronic Screening and interfaces with Oklahoma's State Commercial Vehicle Information Exchange Window (CVIEW) and Federal Motor Carrier Safety Administration (FMCSA) Safety and Fitness Electronic Records (SAFER). This interconnectivity provides better data collection to identify potential violators, focus on safety initiatives, improve road design, and protect Oklahoma’s single largest asset, its highway infrastructure.
IRD is a dynamic technology company engaged in developing key components and advanced systems for the next generation of transportation networks. Together with subsidiaries PAT Traffic and ICOMS Detections, IRD supplies Intelligent Transportation Systems (ITS) to private corporations, transportation agencies, and highway authorities around the world. IRD's systems make highways safer, greener, and more efficient. Known globally as a trusted partner providing sales, service, and installation support on major ITS projects for over 40 years, IRD contributes to creating smarter cities by empowering engineering and urban planning professionals to access reliable traffic data. For more information: www.irdinc.com
Quarterhill is a growth-oriented company in the Intellectual Property and Intelligent Transportation System (ITS) industries. Our goal is to pursue an investment strategy that capitalizes on attractive market trends in both ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com
This news release contains forward-looking statements regarding IRD, Quarterhill and their businesses. Forward-looking statements are based on estimates and assumptions made by IRD and/or Quarterhill in light of their experience and perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that IRD and/or Quarterhill believe are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting IRD and/or Quarterhill, including: potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus (“COVID-19”); the severity of the disease; the duration of the COVID-19 outbreak; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and financial markets and any resulting impact on IRD and/or Quarterhill and/or their businesses. Other factors include, without limitation, the risks described in Quarterhill's February 27, 2020 annual information form for the year ended December 31, 2019 (the “AIF”). Copies of the AIF may be obtained at www.sedar.com. IRD and Quarterhill recommend that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of IRD’s forward-looking statements. IRD has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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