- IRD will ensure optimal system performance at 68 traffic
monitoring sites in the Western part of New York State for the New York State Department of Transportation
("NYSDOT")
- A number of sites will utilize IRD's iTHEIA AI-powered,
non-intrusive data collection solution which offers improved safety
and cost-effectiveness vs. traditional automated traffic
recorders
- The traffic data from IRD's systems will help NYSDOT achieve
its mission to ensure that people who live, work and travel in
New York State have a safe,
efficient, balanced and environmentally sound transportation
system
SASKATOON, SK, July 25,
2022 /PRNewswire/ - International Road Dynamics
Inc. ("IRD"), a Quarterhill Inc. ("Quarterhill") company (TSX:
QTRH) (OTCQX: QTRHF), announced today that the New York State Department of Transportation
("NYSDOT") has awarded IRD a two year, $13.8
million contract for installation and maintenance of
permanent traffic data collection systems. IRD will be responsible
for all parts, equipment, materials, labour and technical expertise
to successfully repair, upgrade, install and maintain traffic data
collection sites across New York
State. All financial information in this press release is
reported in Canadian dollars unless otherwise indicated.
The scope of the contract includes the provision of repair and
maintenance services for the State's existing count, classification
and weigh-in-motion sites – ensuring uptime of 95% or better – and
the installation of new sites to grow and enhance the NYSDOT data
collection program.
NYSDOT collects, summarizes and interprets information about the
traffic that uses the State's highway system. The data is used to
assess transportation needs and highway infrastructure performance,
and to develop highway planning and programming recommendations.
Traffic data is critical for route planning, developing safety
programs, the designation of evacuation routes and their management
and for the design of highway projects. Ultimately, NYSDOT has the
objective to ensure safe, efficient, balanced and environmentally
sound transportation for users of the State's roads.
To help meet its objectives, NYSDOT will utilize IRD's
iTHEIA™ non-intrusive data collection solution.
iTHEIA™ delivers new value in a safe and cost-effective
manner by eliminating the need for road closures during
installation and service. iTHEIA™ provides superior
longevity in comparison to intrusive sensing and detection
technologies previously deployed by NYSDOT. Unlike in-road
sensor-based systems, iTHEIA™ is unaffected by the
degradation of pavement, performing well regardless of road surface
conditions.
"This exciting project with NYSDOT reinforces our commitment to
enhance safety, improve traffic flows and address environmental
challenges with our solutions and strengthens our long-term service
and maintenance revenues, a key driver of stable and sustainable
growth," commented Rish Malhotra, IRD's President & Chief
Executive Officer. "This contract combines traffic data collection,
construction services and advanced traffic data analytics reporting
to meet the unique needs of NYSDOT. We are also pleased to see the
broader adoption of iTHEIA™, which has received growing
interest since its launch two and a half years ago. As US states
become more aware of the benefits of high-quality, continuously
collected traffic information, we expect that the demand for this
innovative solution will continue to grow."
About International Road Dynamics
Inc.
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
IRD Europe (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
About Quarterhill
Quarterhill is a leading provider of tolling and enforcement
solutions in the ITS industry as well as, through its Wi-LAN Inc.
subsidiary, a leader in Intellectual Property licensing. Our goal
is global leadership in ITS, by organic growth of our Electronic
Transaction Consultants, LLC and International Road Dynamics Inc.
platforms and by continuing an acquisition-oriented investment
strategy that capitalizes on attractive growth opportunities within
ITS and its adjacent markets. Quarterhill is listed on the Toronto
Stock Exchange under the symbol QTRH and on the OTCQX Best Market
under the symbol QTRHF. For more information, please visit
www.quarterhill.com
Forward-Looking
Information
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
March 20, 2022 annual information
form for the year ended December 31,
2021 (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.
View original
content:https://www.prnewswire.com/news-releases/ird-awarded-13-8-million-contract-in-new-york-state-301592179.html
SOURCE Quarterhill Inc.