- Quarterhill's upgrade of the Inkom Port-of-Entry weigh
station introduces state-of-the-art technology, including advanced
License Plate Reader cameras and SLC™ WIM Scales, enhancing safety
and improving commercial vehicle processing efficiency on the I-15
Corridor.
- Quarterhill will provide maintenance services for
Idaho's commercial vehicle
enforcement sites, ensuring continuous operational efficiency and
data reporting from electronic screening systems and virtual weigh
stations.
TORONTO, Nov. 27,
2024 /CNW/ - Quarterhill Inc. ("Quarterhill" or
the "Company") (TSX: QTRH) (OTCQX: QTRHF), announced today that it
has been awarded two contracts valued at $3.4 million for system upgrades and maintenance
at Commercial Vehicle Enforcement stations operated by the
Idaho State Police ("ISP"). All
financial information in this press release is reported in U.S.
dollars.
Quarterhill has been contracted by the Idaho Transportation
Department ("ITD") to install new components and upgrade the Inkom
Port-of-Entry weigh station as part of the I-15 Inkom Corridor
Improvements. The entrance ramp is being extended, which
necessitates the relocation of the Weigh-In-Motion ("WIM") system.
Key technological upgrades include advanced license plate readers
and overview cameras, an over-height detector, and automatic
vehicle identification antenna and reader electronics. The project
also includes the integration of cutting-edge iSINC WIM
electronics, and the supply of Single-Load-Cell WIM Scales to
ensure precise commercial vehicle weight assessments.
Quarterhill will also provide one year of maintenance for
electronic screening and virtual weigh station sites, covering
electronics upgrades, data services, quality checks, data supply to
the state, and reporting support for Idaho agencies. The contract includes an
option to extend maintenance services for an additional year.
The Inkom project includes the
installation of a Tire Anomaly and Classification System ("TACS"),
designed to detect and classify tire issues, including flat,
missing, or underinflated tires. Identifying such anomalies is
vital for road safety, as tire defects can impair vehicle control,
increase stopping distances, and lead to a higher number of
accidents. Moreover, ensuring tires are in good condition helps in
reducing fuel consumption and extending tire life, thereby
promoting both economic and environmental benefits. This targeted
approach towards tire monitoring underscores a commitment to
enhancing vehicular safety and operational efficiency within
Idaho's transportation
infrastructure.
"Partnering with the Idaho Transportation Department underscores
Quarterhill's dedication to advancing infrastructure through
innovation," Chuck Myers, CEO of
Quarterhill, commented. "Upgrades like the modernized e-screening
system, enhanced electronics, and TACS installation reflect our
commitment to road safety, operational efficiency, and
environmental sustainability. These improvements streamline
commercial vehicle processing and reinforce our role in delivering
impactful public infrastructure projects that benefit Idaho and its citizens."
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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content:https://www.prnewswire.com/news-releases/quarterhill-announces-two-contracts-in-idaho-valued-at-3-4-million-for-weigh-station-upgrades-and-maintenance-302317159.html
SOURCE Quarterhill Inc.
