Actelis Receives $260,000 Order for Major Mid-Atlantic US County Traffic System Modernization

Rhea-AI Summary

Actelis Networks, a market leader in networking solutions for IoT applications, announced a $260,000 order to modernize the traffic systems in a major Mid-Atlantic county. This project leverages Actelis' hybrid-fiber technology to improve traffic management, safety, and environmental initiatives. The County, home to over 1 million residents, is important for the region's economy and infrastructure. Actelis' advanced Ethernet aggregators and access devices will enhance the operational efficiency of traffic signals and safety cameras, aligning with the County's long-term goals of eliminating severe collisions by 2030 and promoting climate resilience.

Positive

• $260,000 order for traffic system modernization.
• Enhanced traffic flow and safety using hybrid-fiber technology.
• Supports County's goals of reducing collisions and promoting climate resilience.
• Expands Actelis' footprint in the intelligent transportation sector.

Negative

• None.

Enhancing traffic flow and safety in major County, Actelis' hybrid-fiber technology supports key priorities in intelligent transportation and environmental initiatives

FREMONT, Calif., July 10, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or the “Company”), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced that it has received a significant order valued at $260,000 to modernize the traffic systems in a major Mid-Atlantic county in the United States. This project continues Actelis’ momentum in the intelligent transportation space, following its previous announced wins in Washington, DC, Bakersfield, CA, and Italy, for a national transportation infrastructure project.

“We are thrilled to be chosen to support these traffic system modernization efforts,” said Tuvia Barlev, Chairman and CEO of Actelis. “This order, alongside several recent announcements underscores the growing trust in our innovative, secure and cost-effective hybrid-fiber technology and its ability to not only enhance traffic flow, but also support critical safety, transportation, infrastructure, and environmental initiatives. With our expanding portfolio of innovative solutions continuing to gain traction across various sectors, we remain steadfast in its commitment to driving growth and delivering exceptional value to our customers and investors.”

The County, home to over 1 million residents and numerous US government offices, research centers, and major corporations, plays a pivotal role in the region. Efficient traffic management is essential for maintaining the County’s thriving economy and accommodating its significant visitor influx.

The County is responsible for maintaining thousands of lane miles as well as hundreds of managed traffic signals and safety cameras. Actelis’ innovative hybrid-fiber networking solution provides immediate fiber-grade connectivity over the County’s existing fiber/copper network infrastructure. By leveraging Actelis’ advanced Ethernet aggregators and access devices (EADs), the County can efficiently manage traffic signals and camera systems at intersections, ensuring seamless control and enhanced operational efficiency. Actelis’ solution addresses the County’s key priorities, including:

• Safety and vision zero: The County has put resources in place to eliminate serious and fatal collisions by the end of 2030. By enabling fiber-grade connectivity at traffic intersections, County staff is able to monitor traffic flow and configure signal timing to ensure safety for vehicles, bicycles, and pedestrians.
• Environment and climate resiliency: The County has one of the nation’s most aggressive climate action plans. Actelis’ solution helps traffic flow more freely, reducing vehicle emissions caused by unnecessary traffic jams.
• Economic development and Equitable Access: By extending the lifespan of the existing network infrastructure, Actelis allows the County to allocate resources to other critical areas, promoting economic growth and equitable access.
  

About Actelis Networks, Inc.

Actelis Networks, Inc. (NASDAQ: ASNS) is a market leader in cyber-hardened, rapid-deployment networking solutions for wide-area IoT applications including federal, state and local government, ITS, military, utility, rail, telecom and campus applications. Actelis’ unique portfolio of hybrid fiber-copper, environmentally hardened aggregation switches, high density Ethernet devices, advanced management software and cyber-protection capabilities, unlocks the hidden value of essential networks, delivering safer connectivity for rapid, cost-effective deployment. For more information, please visit www.actelis.com.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Media Contact:
Sean Renn
Global VP Marketing & Communications
srenn@actelis.com

Investor Relations Contact:
Actelis Networks, Inc.
ASNS@actelis.com

FAQ

What is the value of Actelis' recent order for traffic system modernization?

$260,000.

Which area is Actelis' new project targeting?

A major Mid-Atlantic county in the United States.

How does Actelis' technology help in traffic management?

By providing immediate fiber-grade connectivity, enhancing control over traffic signals and safety cameras.

What are the key goals of the County’s traffic modernization project?

Improving safety, reducing vehicle emissions, and promoting economic growth.

What is the stock symbol for Actelis Networks?

ASNS.