January 22, 2024
Rekor Systems Secures Five-Year Traffic Counting Contract With Gwinnett GA Department of Transportation
Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced that its Traffic Services division, now including the recently acquired All Traffic Data ("ATD"), has secured a five-year traffic counting contract with Gwinnett County Georgia, Department of Transportation. The contract will include the collection of data for annual traffic volumes program, traffic signal timing optimization projects, and studies that include vehicle, bicycle, and pedestrian counts. This award has a total contract value of approximately $1 million.
The acquisition of ATD adds county-level portable traffic study work to Rekor's strong permanent traffic count portfolio, complementing the Company's existing robust business with the Georgia Department of Transportation. Gwinnett County is situated in the north-central region of Georgia, encompassing approximately 2,650 centerline miles of roadways. It is a vital component of the Atlanta metropolitan area, positioned just 9 miles northeast of the Atlanta city limits. As of 2021, the county has a population of 964,546 residents, ranking it the second-most populous county in Georgia.
Michael Dunbar, Rekor CRO, commented, "This contract win is significant because the Company would not have pursued this type of work before the acquisition, marking the start of an exciting journey that has already opened doors to new revenue streams and data sources that were previously inaccessible. ATD's expertise and industry connections for 'on-call' contract traffic studies perfectly complement our established permanent traffic data collection contracts in Georgia. This is just the start, and we expect extensive revenue growth as we continue to scale and expand this new line of business beyond Georgia."
This latest contract further cements Rekor's position in Georgia, following recent successes in securing contracts related to urban mobility, public safety, and licensing in various regions, including Philadelphia, Tennessee, and Maryland.
About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ:REKR) is a leader in developing and implementing state-of-the-art roadway intelligence systems using AI-enabled computer vision and machine learning. As a pioneer in the implementation of digital infrastructure, Rekor is collecting, connecting, and organizing the world's mobility data - laying the foundation for a digitally-enabled operating system for the roadway. With our Rekor One® Roadway Intelligence Engine at the core of our technology, we aggregate and transform trillions of data points into intelligence through proprietary computer vision, machine learning, and big data analytics that power our platforms and applications. 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.
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