- Quarterhill will supply 15 portable iTHEIA™ video-based AI
traffic count and classification systems for the Minnesota
Department of Transportation.
- iTHEIA is a self-contained, non-intrusive traffic classifier
that sets a new standard for safety, efficiency, and accuracy in
traffic data collection.
TORONTO, Sept. 4,
2024 /PRNewswire/ - Quarterhill Inc.
("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a
global leader in providing intelligent transportation system
solutions, announced today the award of a contract for the supply
of iTHEIA™ AI Video Automatic Traffic Recorders ("ATR") for
Minnesota DOT ("MnDOT").
Quarterhill's iTHEIA utilizes advanced AI to accurately count
and classify all common vehicle types, including passenger cars,
trucks, buses, RVs, and motorcycles. iTHEIA operates on a powerful
edge computing platform, ensuring high accuracy and reliability
without requiring internet connectivity. This provides a
self-contained system that does not need cloud processing to
classify but can be connected to a network for easy access to data
if desired.
By using iTHEIA, transportation agencies like MnDOT can
efficiently improve road safety and enhance traffic management. For
these agencies, it is important that traffic data meets federal
reporting requirements, and iTHEIA has been trained to classify
vehicles according to the Federal Highway Administration's standard
("FHWA") 13-Class scheme.
The Portable iTHEIA system is intended for short-term
deployments, providing a simple way to acquire data from multiple
locations. iTHEIA eliminates the need for in-road sensors, reducing
costs and enhancing safety as users never have to set foot on the
road to set up and operate the system.
"iTHEIA is a game-changer for us," stated John Hackett from the Minnesota Department of
Transportation. "Deploying this AI classifier device is fast and
simple – setup in under 30 minutes – and it watches over three
lanes of traffic without risk to our staff's safety on busy roads.
The iTHEIA AI Classifier is the only way we can get FHWA 13 Class
counts on some of our busy roadways."
"MnDOT's order for multiple portable iTHEIA units represents a
significant milestone for Quarterhill," said Chuck Myers, CEO of Quarterhill. "It not only
reinforces our commitment to revolutionizing traffic data using AI
but also marks an exciting step forward in our partnership with the
state. It signals to the industry and to our customers that we are
setting the standard for safety, efficiency, and accuracy in
traffic data collection."
About Quarterhill
Quarterhill is a leading provider of tolling and enforcement
solutions in the Intelligent Transportation System (ITS) industry.
Our goal is technology-driven global leadership in ITS, via organic
growth of our tolling and enforcement businesses, 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: www.quarterhill.com.
Forward-looking Information
This news release contains forward-looking information and
forward-looking statements within the meaning of applicable
Canadian securities laws (collectively, "forward-looking
statements"). Such forward-looking statements relate to future
events, conditions or future financial performance of Quarterhill
based on future economic conditions and courses of action. All
statements other than statements of historical fact may be
forward-looking statements. Such forward-looking statements are
often, but not always, identified by the use of any words such as
"seek", "anticipate", "budget", "plan", "goal", "expect" and
similar expressions.
Forward-looking statements involve known and unknown risks,
assumptions, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements. Material risk factors that could
cause actual results to differ materially from the forward-looking
statements contained in this news release include, among others,
demand for Quarterhill's products and services; general economic
and market conditions; competition; risks relating to technological
advances and cyber-security; and other risks set forth in the
Company's most recent annual information form available on SEDAR+
at www.sedarplus.ca. The Company believes the expectations
reflected in the forward-looking statements are reasonable, but no
assurance can be given that these expectations will prove to be
correct and such forward-looking statements included in this news
release should not be unduly relied upon. Material factors and
assumptions used to develop the forward-looking statements
contained in this news release include, among others: Quarterhill's
ability to execute on its business plan; demand for Quarterhill's
products and services; operating assumptions; and financial
projections and cost estimates. 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.