Related Quotes
	Rekor Systems Inc	1.93	0.05	2.66%
	Enter Symbols:

Rekor Discover(TM) Broadens Reach in Western U.S. with New Expansion

COLUMBIA, MD / ACCESSWIRE / January 30, 2024 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced its Urban Mobility division's cutting-edge Rekor Discover platform has been chosen by the New Mexico Department of Transportation (NMDOT) to conduct Federal Highway Administration (FHWA) 13 bin vehicle class, count and speed data reporting for a phase one statewide deployment. Each of the initial 40 systems features Rekor Edge Series units utilizing advanced Edge AI to aggregate, transform, and securely deliver holistic traffic insights in real-time to Rekor Discover . This agreement follows the Company's standard MSRP pay-for-data pricing and the NMDOT will commence monthly payments as each system is brought online.

A critical deciding factor that led to this partnership is the AI powering Rekor Discover . The ability to capture traffic analytics reliably and precisely throughout all of New Mexico's varied climate, ranging from snowy conditions to extreme heat, was a key requirement met by Rekor's technology. Rekor's solution replaces traditional, outdated traffic analysis methods such as rubber tubes and embedded roadway sensors in a noteworthy leap forward. These legacy technologies are prone to failure, create traffic disruptions, contribute to pollution, and put workers in danger as they deploy analog technology directly onto roadways.

Traditional data collection methods are also vulnerable to weather-related disruptions, many of which have experienced significant service outages. Rekor Edge Series systems, on the other hand, operate at the side of the roadway and seamlessly transmit key insights into the Rekor Discover platform, eliminating the risks mentioned above while delivering highly accurate traffic data. Rekor Edge Systems, combined with the Rekor Discover platform, deliver technology resilient to weather-related changes, ideally suited for statewide deployment in New Mexico, providing a reliable and continuous feed of federally required traffic data.

The required monthly data reporting from state Departments of Transportation (DOTs) to the FHWA enables evidence-based decision-making, promotes transparency, and contributes to the overall effectiveness of the U.S. highway system. Federal policy requires state DOTs to report traffic data to the FHWA for several important reasons:

• Assessing Highway System Health: The FHWA uses this data to evaluate the condition and performance of the national highway system. By collecting information from state DOTs, the FHWA gains insights into road conditions, traffic flow, and infrastructure health. This assessment helps inform decisions about funding allocation, maintenance priorities, and investment strategies for highways across the country.
• Informed Policy Decisions: The data collected by state DOTs contributes to informed policy decisions at both federal and state levels. It allows policymakers to understand transportation trends, identify areas for improvement, and develop effective strategies to enhance safety, efficiency, and sustainability.
• Transparency and Accountability: By sharing traffic data with the FHWA, state DOTs promote transparency in the transportation sector. The public can access this information, including local governments, private businesses, and the media. Transparency fosters accountability and ensures that decisions related to transportation infrastructure are made based on reliable data.
• Monitoring Road System Performance: The FHWA licenses the National Performance Management Research Data Set (NPMRDS), which includes traffic data. State DOTs and Metropolitan Planning Organizations (MPOs) use this dataset to monitor and report on road system performance. It helps track metrics such as travel times, congestion, and reliability.

"In a digital age where innovation and accuracy are paramount, the New Mexico Department of Transportation's adoption of Rekor Discover marks a significant milestone," said Robert A. Berman, Chair and CEO of Rekor Systems. Berman continued, "This partnership is especially noteworthy as it originated from a proof of concept (POC). It has now evolved into a revenue-producing contract, a significant achievement in a state where Rekor Systems previously had no established relationships. This successful transition from a POC to a profitable contract not only highlights the groundbreaking capabilities of Rekor Discover but also demonstrates the trust and confidence that state agencies are willing to invest in our technology, even in new markets. Similar to our success in New Mexico, we expect other states with existing POCs to transition into revenue-producing contracts."

Benefits of Rekor Discover

• Automate accurate roadway intelligence: Artificial intelligence fully automates the accurate and precise capture of traffic data, reducing errors and manual intervention allowing transportation agencies to focus on other critical tasks.
• Deploy safely and without disruptions: Rekor's Edge systems are deployed quickly and easily on the side of the road without requiring workers to enter unsafe conditions, cut into the pavement, or disrupt traffic.
• Gather ground truth in all conditions: Built to function in adverse weather conditions and various traffic situations, Rekors systems are ready for a wide variety of rugged and changing environments.
• Always on and always up-to-date: Rekor's systems are remotely monitored through a connected operations dashboard to perform necessary health checks as well as seamless software and firmware updates, optimizing up-time and incorporating the latest in AI technology.

For more information about Rekor Systems and its transformative AI traffic data collection solution, please visit the Rekor Discover webpage.

About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ:REKR) is a leader in developing and implementing state-of-the-art roadway intelligence systems using AI-enabled computer vision and machine learning. As a pioneer in the implementation of digital infrastructure, Rekor is collecting, connecting, and organizing the world's mobility data - laying the foundation for a digitally-enabled operating system for the roadway. With our Rekor One Roadway Intelligence Engine at the core of our technology, we aggregate and transform trillions of data points into intelligence through proprietary computer vision, machine learning, and big data analytics that power our platforms and applications. Our solutions provide actionable insights that give governments and businesses a comprehensive picture of roadways while providing a collaborative environment that drives the world to be safer, greener, and more efficient. To learn more, please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, X (formerly Twitter), Threads, and Facebook.

Forward-Looking Statements
This press release and its links and attachments contain statements concerning Rekor Systems, Inc. and its future expectations, plans, and prospects that constitute "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, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for ALPR systems. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the statements regarding the use of proceeds from the sale of the Series A Notes in the offering and the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.

Media & Investor Relations Contact:
Rekor Systems, Inc.
Charles Degliomini
ir@rekor.ai

SOURCE: Rekor Systems, Inc.