Rekor Systems and Tel Aviv University LAMBDA Partner to Push the Frontiers of AI-based Roadway Intelligence
Press Release

August 3, 2023

Rekor Systems and Tel Aviv University LAMBDA Partner to Push the Frontiers of AI-based Roadway Intelligence



Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a trusted global authority in developing and delivering roadway intelligence using state-of-the-art AI and machine learning today announced a pioneering academic partnership with the Tel Aviv University Laboratory for AI, Machine Learning, Business & Data Analytics (LAMBDA). The collaboration will facilitate the exchange of knowledge, expertise, and resources between Rekor and Tel Aviv University's LAMBDA. This alliance is expected to propel the advancements in roadway intelligence to new heights and contribute significantly to the broader field of artificial intelligence and machine learning.

Further fortifying this partnership, Tel Aviv University's LAMBDA will also become a strategic member of the Rekor Partner Network (RPN). The RPN is a prominent global ecosystem of technology, data, and solution providers striving to innovate and expand the roadway intelligence domain. By harnessing Rekor's industry-leading expertise, the RPN aims to develop markets and deploy cutting-edge solutions.

Central to this collaboration is the core research objective of optimizing detection time and detection accuracy in incident reporting to improve the safety of roadway users and the world around them. To achieve this ambitious goal, the partnership harnesses state-of-the-art technologies, including artificial intelligence, machine learning, multi-source sensors, and data sets. These technologies will work in tandem to create an unparalleled synergy, unlocking new avenues for incident detection and response on roadways.

Rekor Systems' President and COO, David Desharnais, shared his enthusiasm about the partnership, stating, "Our collaboration with Tel Aviv University LAMBDA creates the opportunity to push AI in fundamentally new ways to transform the roadway ecosystem and intelligent transportation industry radically. Through our shared commitment to innovation, we aim to make roads safer and more efficient while at the same time pushing the frontiers of AI applications in transportation. Additionally, our joint mentorship program for post-graduate students at LAMBDA is an investment in the future generation of AI and machine learning thought leaders."

Professor Irad E. Ben-Galfrom, Tel Avi University's Head of Laboratory and AI Machine Learning Business and Data Analytics remarked on the partnership, "Rekor's expertise in smart transportation and digital living significantly aligns with our Lab's research goals at Tel Aviv University. Through this collaboration, the enterprise's goal is to optimize the trade-off between detection time and accuracy in incident reporting, leveraging state-of-the-art technology. This industry-academia partnership showcases our joint efforts to enhance the safety and efficiency of transportation systems in our digitalized world. We are excited about the potential impact of this collaboration and the opportunities it presents."

About the Tel Aviv University's LAMBDA

The Laboratory for AI, Machine Learning, Business & Data Analytics (LAMBDA) at Tel Aviv University is a renowned center for research and innovation. LAMBDA is committed to the advancement of AI, machine learning, and data analytics and strives to push the frontiers of knowledge and develop cutting-edge solutions for real-world challenges.

About Rekor Systems, Inc.

Rekor Systems, Inc. (NASDAQ: REKR) is a trusted global authority in developing and delivering roadway intelligence using state-of-the-art AI and machine learning. Pioneering the implementation of digital infrastructure in our communities, Rekor is redefining infrastructure by collecting, connecting, and organizing the world's mobility data - laying the foundation for a digital-enabled operating system for the road. Our Rekor One® Roadway Intelligence Engine powers all of our platforms and applications, providing the foundation of our technology by aggregating and transforming trillions of data points into actionable intelligence through proprietary computer vision, machine learning, and data fusion. Our solutions provide actionable insights that give governments and businesses a comprehensive picture of roadways while providing a collaborative environment that drives the world to be safer, greener, and more efficient.

Forward-Looking Statements

This press release and its links and attachments contain statements concerning Rekor Systems, Inc. and its future expectations, plans, and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for ALPR systems. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.