March 14, 2023
Rekor Systems Secures Approximately $1 Million in New AI Roadway Intelligence Contracts with a World-Class Theme Park Operator
Rekor's AI-Based Roadway Intelligence software and systems are chosen to improve traffic management and security capabilities across 28 theme parks globally
Rekor Systems, Inc. (NASDAQ:REKR), a global AI technology company with a mission to provide insights that build safer, smarter, and more efficient cities around the world through intelligent infrastructure, today announced that an industry-leading theme and waterpark operator has chosen the Company's AI-based roadway intelligence software and systems to improve their traffic management and security capabilities. The approximately $ 1 million multi-year contract includes software licenses and systems.
"We are thrilled to partner with this leading theme and waterpark operator to implement our innovative roadway intelligence solutions across their numerous properties," said Michael Dunbar, CRO Rekor. "With millions of guests visiting these properties each year, understanding and managing vehicle traffic is critical to enhancing the overall guest experience and ensuring public safety. Rekor's advanced AI-based technology provides the tools they need to monitor and manage traffic flow, recognize returning season pass holders, improve operational efficiency, and enhance guest safety."
Rekor's roadway intelligence solutions use advanced AI and machine learning algorithms to analyze real-time camera video feeds at entry and exit points across multiple properties. The system automatically identifies license plates, makes, and models of vehicles and detects other relevant information such as speed, direction, and lane occupancy. This information is then processed and analyzed to provide operators with valuable insights into traffic flow patterns, enabling the Company to optimize traffic flow and reduce wait times. Additionally, the system can automatically detect and alert security personnel to potential security threats, such as vehicles on a watch list or reported stolen.
"This new contract further cement Rekor's position as a leading provider of AI-based roadway intelligence solutions and highlight the growing demand for our technology in the theme and waterpark industries," Dunbar concluded.
About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ:REKR) is a trusted global authority on intelligent infrastructure providing innovative solutions that drive the world to be safer, smarter, and greener. As a provider of comprehensive, continuous, and real-time roadway intelligence, Rekor leverages AI, machine learning, and holistic data to support the intelligent infrastructure that is essential for smart mobility. With its disruptive technology, the Company delivers integrated solutions, actionable insights, and predictions that increase roadway safety.
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