Quarterhill Announces Contracts Totaling $5.8 Million to Deploy New Technologies at North Carolina Weigh Stations

Rhea-AI Summary

Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) has secured two contracts worth $5.8 million to supply advanced Commercial Vehicle Enforcement technology for North Carolina Department of Public Safety (NCDPS) State Patrol weigh stations. The projects, located in Hendersonville and Halifax County, aim to enhance vehicle screening and improve safety and efficiency of commercial motor vehicle operations.

Key features include:

• Advanced weigh-in-motion (WIM) systems with electronic screening
• Virtual weigh stations
• Mainline sorter systems with Tire Anomaly and Classification Systems
• License Plate Recognition (LPR) technology

These upgrades will enable more efficient management and regulation of commercial vehicle operations, reducing manual checks and increasing road safety.

Positive

• Secured contracts worth $5.8 million for advanced technology deployment
• Expansion of business in North Carolina's commercial vehicle enforcement sector
• Implementation of cutting-edge technologies to improve road safety and efficiency
• Potential for increased revenue and market presence in the transportation technology sector

Negative

• None.

• Quarterhill's installation of advanced E-screening systems in North Carolina will significantly enhance road safety and streamline the inspection of commercial vehicles by the State Highway Patrol.
• The projects in Hendersonville and Halifax will bolster the productivity of commercial motor vehicles, ensuring a safer and more efficient transportation network across the state.

TORONTO, Sept. 18, 2024 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), announced today that it has been awarded two contracts valued at $5.8 million for the supply of advanced Commercial Vehicle Enforcement technology for weigh stations operated by the North Carolina Department of Public Safety ("NCDPS") State Patrol. All financial information in this press release is reported in U.S. dollars.

Quarterhill has been selected to supply upgrades and new installations for the Hendersonville and Halifax County Commercial Vehicle inspection facilities. These projects are designed to enhance vehicle screening and improve the safety and efficiency of commercial motor vehicle operations.

In both the eastbound and westbound lanes at Hendersonville, advanced weigh-in-motion ("WIM") systems integrated with electronic screening ("E-screening") will be implemented to streamline the process of weighing vehicles while they are traveling at highway speeds. Two new virtual weigh stations, utilizing two lanes each, will be installed in advance of the rest areas and weigh stations. These sites will primarily focus on selecting vehicles for further inspection. The selected vehicles may then be directed to nearby rest areas used for enforcement, supplementing the fixed weigh stations.

The Halifax County northbound and southbound weigh stations will be upgraded to include new mainline sorter systems. These systems encompass state-of-the-art WIM technology, Tire Anomaly and Classification Systems, and License Plate Recognition ("LPR").

The main goal of the Halifax project is to enhance the interoperability of Innovative Technology Deployment systems by integrating mainline WIM and LPR technologies, USDOT readers, tire monitoring systems, and digital message signs. These upgrades aim to improve commercial vehicle safety and increase the productivity of commercial drivers by facilitating quicker and more efficient inspections along the busy I-95 corridor.

Quarterhill's solutions will enable the State Highway Patrol to manage and regulate commercial vehicle operations more efficiently. Improved data collection and automation will reduce manual checks, saving time and resources while increasing road safety.

"We are excited to bring our latest enforcement technology solutions to North Carolina. These projects in Hendersonville and Halifax represent an evolution for the state's operations and emphasize our commitment to advancing road safety and efficiency," said Chuck Myers, CEO of Quarterhill. "By implementing these sophisticated systems, we are not just improving the workflow for the NCDPS State Patrol but also enhancing the overall safety and operational efficiency of the commercial transport sector across the state."

About Quarterhill

Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, 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 TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.

Forward-looking Information

This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of ‎Quarterhill based on future economic conditions and courses of action. All statements other ‎than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ‎‎"plan", "goal", "expect" and similar expressions.

Forward-looking statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ‎the forward-looking statements are reasonable, but no assurance can be given that these expectations ‎will prove to be correct and such forward-looking statements included in this news release should not be ‎unduly relied upon.‎ Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. Quarterhill 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/quarterhill-announces-contracts-totaling-5-8-million-to-deploy-new-technologies-at-north-carolina-weigh-stations-302251364.html

SOURCE Quarterhill Inc.

FAQ

What is the value of Quarterhill's new contracts in North Carolina?

Quarterhill (QTRHF) has been awarded two contracts totaling $5.8 million for the supply of advanced Commercial Vehicle Enforcement technology in North Carolina.

Where will Quarterhill's new technology be deployed in North Carolina?

Quarterhill (QTRHF) will deploy its new technology at weigh stations in Hendersonville and Halifax County, North Carolina.

What technologies will Quarterhill (QTRHF) implement in the North Carolina project?

Quarterhill will implement advanced weigh-in-motion (WIM) systems, electronic screening, virtual weigh stations, mainline sorter systems, Tire Anomaly and Classification Systems, and License Plate Recognition (LPR) technology.

How will Quarterhill's technology benefit North Carolina's commercial vehicle operations?

Quarterhill's (QTRHF) technology will enhance vehicle screening, improve safety and efficiency of commercial motor vehicle operations, reduce manual checks, and increase road safety in North Carolina.