Saskatoon, SK September 13, 2021 – International Road Dynamics Inc. (“IRD” or the “Company”), a Quarterhill Inc. (“Quarterhill”) company (TSX: QTRH) (OTCQX: QTRHF), announced today that IRD’s subsidiary PAT Traffic Ltda. (“PAT Traffic”) has launched a new WIM@Toll controller for integrating weigh-in-motion (“WIM”) into toll and access control systems. PAT Traffic is a leading supplier of road toll collection systems in Latin America and is IRD’s newly established center of excellence for developing new toll technology for worldwide markets.
The new WIM@Toll controller is part of iTOLL®, IRD’s comprehensive solution for the management and collection of tolls. iTOLL supports lane-based toll operation models as well as a multitude of requirements and regulations issued by different state entities and toll concessionaires worldwide. The unique modular design offers a superior alternative to discrete input/output or more expensive and complex Programmable Logic Controller technology.
WIM is increasingly used as a part of toll systems around the world as toll road operators have become more aware of the damage to pavement caused by heavily loaded vehicles. Not only does WIM ensure that these vehicles are adequately compensating for their share of road use through weight-based tolling, systems can also be designed to fine overweight vehicles directly or deny access to extremely overweight trucks. Overweight vehicles are both a safety risk and produce greater pollution, thus creating a desire on the part of authorities to tax them or limit access to urban areas via tolling.
The new WIM@Toll controller interfaces to toll system components such as WIM sensors, inductive loops, Automatic Vehicle Classification (“AVC”) sensors, automatic number plate recognition cameras, light curtains, vehicle dimensioning systems, barrier gates, traffic lights and fare displays. Depending on the AVC requirements, the lane system can be configured to use AVC subsystems based on SensorLine fiber-optic sensors or the Advanced Axle Classification for Toll system that is powered by IRD’s VectorSense® sensors – an advanced in-road sensor that classifies vehicles based on tire footprint profiles. Additionally, the controller can also interface to non-intrusive 3D LiDAR sensors for AVC and dimensioning.
Quarterhill’s recent acquisition of Electronic Transaction Consultants (“ETC”), a leader in tolling in the U.S., complements IRD’s long history in ITS and tolling and creates new opportunities for collaboration. “We are excited to be joining forces with IRD,” said Bret Kidd, Chief Executive Officer of ETC. “IRD’s innovative approach is well-aligned with ETC’s mobility vision and will give both companies even greater advantages in ITS intelligence. As global demand for tolling solutions increases, we look forward to bringing individual and combined strengths to the industry.”
“With over 6,000 toll lanes installed worldwide, IRD is an international leader in tolling systems, which we believe is a market with strong growth tailwinds,” said Rish Malhotra, President and CEO of IRD. “We see growing interest and new opportunities worldwide in tolling as governments look to products and services that can help them pay for and sustain infrastructure projects. Further, we also see a convergence of tolling and enforcement ITS verticals, which we are well positioned to capitalize on. Our next generation WIM@Toll controller incorporates our recently acquired fiber-optic sensor capabilities, is a critical step towards strengthening our position in the international toll marketplace and enables customers to leverage a modular solution for WIM, toll operations and access control deployments.”
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, ICOMS Detections, SensorLine and VDS, 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 International Road Dynamics Inc., Electronic Transaction Consultants, LLC, Quarterhill Inc. and their respective businesses. Forward-looking statements are based on estimates and assumptions made by International Road Dynamics Inc., Electronic Transaction Consultants, LLC and/or Quarterhill Inc. 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 International Road Dynamics Inc., Electronic Transaction Consultants, LLC and/or Quarterhill Inc. 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 International Road Dynamics Inc., Electronic Transaction Consultants, LLC and/or Quarterhill Inc., 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 International Road Dynamics Inc., Electronic Transaction Consultants, LLC and/or Quarterhill Inc. and/or their businesses. Other factors include, without limitation, the risks described in Quarterhill’s March 11, 2021 annual information form for the year ended December 31, 2020 (the “AIF”). Copies of the AIF may be obtained at www.sedar.com. International Road Dynamics Inc., Electronic Transaction Consultants, LLC and Quarterhill Inc. recommend that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of forward-looking statements. None of International Road Dynamics Inc., Electronic Transaction Consultants, LLC nor Quarterhill Inc. has any 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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