- Business model based on recurring revenue share with the city
- 3 year agreement executed with the city
- Solution will assist city to identify and issue citations for traffic violation enforcement and to issue timely information and alerts to local Police departments for vehicles on a law enforcement wanted list or involved in criminal activity
- Solution part of the Safe City force multiplier initiative by omniQ
SALT LAKE CITY, Oct. 05, 2021 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that the Company has been selected by the City of Adrian Georgia to deploy its QShield vehicle recognition systems (VRS) technology and its cloud based citation management platform to identify any vehicle driving through the city which is on a National Crime Information Center (NCIC) data base or the Georgia Bureau of Investigations Database (GBI Database) and issue citations to scofflaws driving through the city with outstanding traffic violations.
QShield, OMNIQ’s AI-based machine vision VRS solution uses patented Neural Network algorithms that imitate human brains for pattern recognition and decision-making. More than 17,000 OMNIQ AI based machine vision sensors are installed worldwide, including approximately 7,000 in the U.S. Based on superior accuracy and patented features like identification of make and color combined with superior accuracy based on the sophisticated algorithm and machine learning that largely depends on accumulated data provided by thousands of sensors already deployed.
“When a vehicle associated with a criminal investigation and on a National Crime Information Center data base or a scofflaw vehicle with outstanding traffic violations or expired, suspended or revoked registration passes QShield’s sensors that are deployed throughout the city, OMNIQ’s QShield system automatically triggers a real time alert to the Adrian Police Department. Additionally, scofflaws when captured by the sensors are issued, on behalf of the city, citations via the QShield citation platform. Citations are then mailed to the vehicle’s registered owner and payments are processed through the QShield online payment platform” – said Shai Lustgarten CEO of OMNIQ.
QShield, OMNIQ’s VRS solution will be installed in several key intersections throughout the city to efficiently and accurately capture vehicle data, including license plate number, color, make, and model. QShield’s technology will also be used to provide local law enforcement with timely alerts for any vehicle on a federal, state, and local law enforcement wanted list in addition to enforcing the traffic violations above”.
“We are excited to provide our machine vision VRS technology to benefit the citizens of the city of Adrian, Georgia and assist the city’s local Police Department” said Shai Lustgarten, CEO of OMNIQ.
“Despite their usefulness in helping police solve crimes, automatic license plate and vehicle recognition (VRS) solutions are often beyond the reach of many smaller municipalities. The cost of such systems, can often exceed budgetary limits of a smaller city like Adrian, Georgia. With QShield by omniQ, we are able to offset these costs through our revenue share business model. We are proud to partner with omniQ in deploying QShield in our city. QShield provides us with a force multiplier, now available and affordable to protect the citizens of our community”, said Chief of Police, Kyle Strickland.
About OMNIQ Corp.
OMNIQ Corp. (OTCQB: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.
OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.
The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.
Information about Forward-Looking Statements
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This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.