SOBRsafe Expands Footprint in Canada with Signing of TráTek Monitoring Services
SOBR Safe, Inc. announced a partnership with TráTek Monitoring Services in Canada for the adoption of SOBRcheck™ and SOBRsure™ devices. TráTek has purchased multiple units of these devices and plans to deploy them nationwide. The technology is lauded for its ease of use, quick results, and cost-effectiveness, offering potential growth opportunities in various markets.
The announcement by SOBR Safe, Inc. of its partnership with TráTek Monitoring Services represents a strategic business development with potential implications for SOBR Safe's market expansion and revenue streams. The adoption of SOBRsafe's technology by TráTek, a company with a 25-year history in electronic monitoring, signals a vote of confidence in the product's innovation and market fit. This partnership enables SOBR Safe to penetrate the Canadian market without the immediate need for a localized physical presence or marketing infrastructure, thereby reducing upfront costs.
Moreover, the potential application in the Canadian trucking industry suggests a diversification of SOBRsafe's target markets, potentially increasing the total addressable market (TAM) for their products. The transdermal alcohol detection technology sector is poised for growth, given increasing safety and regulatory demands and SOBRsafe's ability to offer a more user-friendly and cost-effective solution may disrupt existing market dynamics and provide a competitive edge.
The integration of SOBRsafe's devices into family law and pre-trial monitoring programs underscores an increasing legal system reliance on technology to enhance public safety and compliance. TráTek's role as a licensed channel partner and its plans to deploy these solutions nationwide indicate a broader acceptance and potential shift in legal protocols towards innovative monitoring solutions. This could lead to a more widespread adoption of SOBRsafe's technology in legal contexts, not only in Canada but as a precedent for other jurisdictions.
For stakeholders, this could mean an expansion of legal tech offerings and a new standard in alcohol monitoring that could influence future legislation or regulations. The legal implications of this technology's adoption could also extend to privacy and data security considerations, as the devices will collect sensitive information that must be handled in accordance with Canadian law.
The financial implications of SOBR Safe's announcement are multifaceted. The initial multi-unit purchase by TráTek is a direct revenue generator for SOBR Safe. However, the longer-term financial impact hinges on the successful deployment and adoption of the technology. The cost-saving attributes and ease of use touted by TráTek's CEO could lead to higher demand, which in turn would result in increased sales volume and potentially significant revenue growth for SOBR Safe.
Additionally, the partnership model, which places 'boots on the ground' across Canadian provinces at no upfront cost to SOBR Safe, is a strategic move to minimize fixed costs while maximizing market coverage. This could positively affect SOBR Safe's profit margins and operational efficiency, making it an attractive point for investors evaluating the company's cost management and scalability.
02/27/2024 - 08:00 AM
British Columbia-based Company Purchasing Multiple SOBRcheck™ and SOBRsure™ Devices
DENVER, CO / ACCESSWIRE / February 27, 2024 / SOBR Safe, Inc. (NASDAQ:SOBR) (SOBRsafe™), providers of next-generation transdermal alcohol detection solutions, today announced that TráTek Monitoring Services ("TráTek") is adopting SOBRsafe's technology for immediate use in support of its family law and voluntary pre-trial clients. Based in British Columbia, Canada TráTek has made an initial multi-unit purchase of both SOBRcheck™ and SOBRsure™ devices.
Expansion Opportunity
On the strength of its 25-year legacy in electronic monitoring, TráTek has also evolved into a licensed channel partner of alcohol monitoring technologies, supporting the legal system across Canada. TráTek intends to utilize its regional sales manager model to deploy SOBRsafe solutions nationwide. In addition, TráTek is exploring an application for the technology in the Canadian over-the-road trucking market.
A Welcome Innovation
"Finally, a new way to monitor! After many years of supplying the standard remote alcohol monitoring equipment, we were excited to discover a truly innovative solution in SOBRsafe," stated Len Beagley, CEO of TráTek Monitoring Services. "SOBRsafe's technology has significant potential because it is much easier to use, delivers faster results and is less expensive for the user than what is on the market today. We believe that this will accelerate both individual adoption and our path to broader sales."
Followed SOBRsafe Chairman & CEO Dave Gandini, "This relationship with TráTek accomplishes two key goals for SOBRsafe: 1) it gets our technology in immediate live use in Canada, and 2) it places motivated ‘boots on the ground' for us across all provinces at no upfront or fixed costs to SOBRSafe. We feel that TráTek is an ideal organization for growing our brand and business interests in Canada."
---
About SOBRsafe™
Alcohol misuse is the fourth leading cause of preventable death in America, and the seventh worldwide. Yet prevention and monitoring solutions have not kept pace with this epidemic. Legacy technologies are invasive and inefficient, unhygienic and unconnected. There has to be a better way.
Enter SOBRsafe™. Our advanced transdermal (touch-based) technology detects and reports in real-time the presence of alcohol as emitted through a user's skin - no breath, blood or urine sample is required. With a powerful backend data platform, SOBRsafe provides next generation passive detection technology for behavioral health, judicial and consumer markets, and for licensing and integration.
The SOBRsafe technology is commercially available for access control (SOBRcheck ), wearable use (SOBRsure ) and licensing/white labeling. At SOBRsafe, we are creating a culture of prevention and support. To learn more, visit www.sobrsafe.com .
Contact SOBRsafe: investor.relations@sobrsafe.com
Safe Harbor Statement
Our prospects here at SOBRsafe are subject to uncertainties and risks. This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business, and reflect our beliefs and assumptions based upon information available to us at the date of this press release. In some cases, you can identify these statements by words such as "if," "may," "might," "will", "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," and other similar terms. These forward-looking statements include, among other things, plans for proposed operations, descriptions of our strategies, our product and market development plans, and other objectives, expectations and intentions, the trends we anticipate in our business and the markets in which we operate, and the competitive nature and anticipated growth of those markets. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors including, but not limited to, the risks and uncertainties discussed under risk factors in our registration statement on Form S-1, (File No. 333-267882 ) as well as our other filings with the SEC. We undertake no obligation to revise or update any forward-looking statement for any reason.
SOURCE: SOBR Safe, Inc.
press release on accesswire.com
What devices were purchased by TráTek Monitoring Services from SOBR Safe, Inc.?
TráTek Monitoring Services purchased multiple SOBRcheck™ and SOBRsure™ devices from SOBR Safe, Inc.
What is the 25-year legacy of TráTek Monitoring Services?
TráTek Monitoring Services has a 25-year legacy in electronic monitoring.
What market is TráTek exploring for the application of SOBRsafe technology?
TráTek is exploring an application for the technology in the Canadian over-the-road trucking market.
Who is the CEO of TráTek Monitoring Services and what is his opinion on SOBRsafe technology?
Len Beagley, CEO of TráTek Monitoring Services, stated that SOBRsafe's technology has significant potential due to its ease of use, quick results, and cost-effectiveness.
What are the key goals accomplished by the relationship between SOBRsafe and TráTek Monitoring Services?
The key goals accomplished by the relationship include immediate live use of the technology in Canada and the deployment of motivated 'boots on the ground' for SOBRsafe across all provinces at no upfront or fixed costs.
