- Quarterhill subsidiary IRD will install Weigh-In-Motion
technology at 28 sites on various Interstate and State
Routes.
- The sites will collect vehicle data related to road
infrastructure protection and monitor commercial vehicle routes to
improve highway safety.
SASKATOON, SK, March 7,
2024 /CNW/ - Quarterhill Inc. ("Quarterhill" or the
"Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of
tolling and enforcement solutions in the Intelligent Transportation
System ("ITS") industry, announces that its wholly-owned
subsidiary, International Road Dynamics Inc. ("IRD"), has been
awarded a $5.3 million contract by
the Tennessee Department of Transportation ("TDOT") to install
Weigh-In-Motion ("WIM") systems at 28 sites on interstate and state
routes across Tennessee.
Installation is expected to be completed in May 2025. All financial information in this press
release is reported in Canadian dollars.
TDOT is promoting the advancement of WIM in the state through
the development of a statewide WIM program. The WIM systems will
capture and record axle weights and gross vehicle weights as
vehicles drive over the measurement sites at highway speeds. The
sites will provide data on commercial vehicle characteristics in
certain transit corridors for asset management and design
improvements.
Some of the WIM sites are co-located with enforcement sites
operated by the Tennessee Highway
Patrol, who will integrate their commercial vehicle inspection
program with the WIM data. In addition to collecting data, the WIM
systems will be able to determine if trucks are overloaded so they
can be routed to inspection stations for ticketing, thus cutting
down on excessive highway wear-and-tear and the number of unsafe
vehicles on the road. There is also the potential for future
upgrades of the sites with E-screening technology to automate the
evaluation of driver and trucking company safety ratings, resulting
in enhanced enforcement capabilities and further improvements to
highway safety.
"We are pleased to collaborate with TDOT on this project to
elevate highway safety and efficiency in Tennessee," said Chuck
Myers, CEO of Quarterhill. "The deployment of advanced WIM
systems will provide vital data to facilitate effective
enforcement, enhance asset management, and significantly improve
the safety of Tennessee's
highways. This project is our first major initiative in
Tennessee, and we look forward to
exploring opportunities to expand our footprint further in the
State."
About Quarterhill
Quarterhill is a leading provider of
tolling and enforcement solutions in the Intelligent Transportation
System (ITS) industry. Our goal is global leadership in ITS, via
organic growth of the Electronic Transaction Consultants, LLC (ETC)
and International Road Dynamics Inc. (IRD) platforms, 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, visit www.quarterhill.com.
About IRD
IRD is a dynamic technology company engaged
in developing key components and advanced systems for the next
generation of transportation networks. Together with subsidiaries
PAT Traffic and IRD Europe (ICOMS Detections, Sensor Line and VDS),
IRD supplies Intelligent Transportation Systems (ITS) to private
corporations, transportation agencies, and highway authorities
around the world. IRD's systems make highways safer, greener, and
more efficient. Known globally as a trusted partner providing
sales, service, and installation support on major ITS projects for
over 40 years, IRD contributes to creating smarter cities by
empowering engineering and urban planning professionals to access
reliable traffic data. For more information, visit
www.irdinc.com
Forward-looking Information
This news release contains
forward-looking statements regarding Quarterhill, its operating
subsidiaries and their respective businesses. Forward-looking
statements are based on estimates and assumptions made by
Quarterhill in light of its experience and its perception of
historical trends, current conditions, expected future developments
and the expected effects of new business strategies, as well as
other factors that Quarterhill believes are appropriate in the
circumstances. The forward-looking events and circumstances
discussed herein may not occur and could differ materially as a
result of known and unknown risk factors and uncertainties
affecting Quarterhill, which include, without limitation, the risks
described in Quarterhill's March 22,
2023 annual information form for the year ended December 31, 2022 (the "AIF"). In addition,
readers are also urged to review the additional risk factors
disclosed in our Management's Discussion and Analysis for the three
and nine months ended September 30,
2023 filed on www.sedarplus.ca. Quarterhill recommends that
readers review and consider all of these risk factors and notes
that readers should not place undue reliance on any of
Quarterhill's forward-looking statements. 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.
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SOURCE Quarterhill Inc.