SASKATOON, SK, April 7, 2021 – International Road Dynamics Inc. (“IRD” or the “Company”), a Quarterhill Inc. (“Quarterhill”) company (TSX: QTRH) (OTCQX: QTRHF) announced today that it will be participating in a research project with the University of Manitoba (“UM”) and the National Research Council (“NRC”) on improvements to highway transportation infrastructure, reliability and safety in the Canadian Prairie and Northern Region. The NRC is the principal funder of the project.
Canada’s vast prairie and northern region relies on roads that must be kept fluid, resilient, and safe for freight transport. In 2017, trucking accounted for 55% of total merchandise exports by value in the region. Major industries in the region—including agriculture, petroleum, forestry, and mining—could not function without a reliable and safe road freight transport system. This network is sparse and subject to seasonal changes, making it prone to risks and hazards that can disrupt the overall supply chain. With limited public sector dollars available for road development, governments are turning to tech-enabled solutions to help make better-informed investment, maintenance, and response decisions related to their infrastructure.
Together, IRD, UM and NRC seek to address this challenge. IRD and UM are developing a leading-edge mobile traffic and weather monitoring system that will be deployed throughout the region to capture data over a period of five years. The first of its kind in Canada, these systems will be situated at Weigh-in-Motion and truck traffic monitoring sites throughout Manitoba. The aggregated data will form the basis of a transportation data vault that will enable multiple data-intensive investigations in the future.
Researchers at the NRC will use Artificial Intelligence (“AI”) to run scenario analysis on the data vault to assess the impact on highway networks from various types of risks and hazards, such as flooding, extreme weather, hazardous materials incidents, and longer-term impacts related to climate change. Results from this analysis will better equip decision-makers to respond to one-time incidents as well as planning for more sweeping long-term environmental changes in order to preserve the resilience and reliability of the highway network.
Rish Malhotra, IRD President & CEO, commented, “We are pleased to partner with UM and the NRC to advance these technologies and methods for mobile traffic data collection and analysis. Our work on this project will generate high-quality data that will inform far-reaching improvements to traffic planning, which will have a significant impact on how the transportation industry affects the economy and the people and communities it is meant to serve. The findings from this project stand to benefit transportation planning and technology well beyond the Canadian prairies, creating potential new business opportunities for IRD both domestically and internationally.”
Read more about the project on the NRC website: https://nrc.canada.ca/en/research-development/research-collaboration/programs/applying-artificial-intelligence-improve-resilience-fluidity-safety-road-freight-transport-canadian
IRD is a dynamic technology company engaged in developing key components and advanced systems for the next generation of transportation networks. Together with subsidiaries Sensor Line, 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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