- Project managed by the
Port Authority of New York and New Jersey (PANYNJ), to significantly improve traffic flow, revenue stream and travelers’ convenience using airport parking. - The project involves the implementation of omniQ’s proprietary latest AI neural network-based engine, improving accuracy, and transaction speed allowing patrons to enter/exit and find their cars quicker and more efficiently.
- This is a repeat order, following the installation of omniQ’s previous generation approximately 5 years ago and repeat cooperation with DESIGNA, a world market leader in fully automated parking systems operating in 60 countries around the world.
The Company and its partner DESIGNA are working together on a collaborative agreement to further the success of PANYNJ. The collaboration completes a technology upgrade of the VRS-Vehicle Recognition Systems at four airports, including the addition of the latest AI neural network deep learning engine developed by omniQ’s scientists.
About
omniQ Corp. provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management,
omniQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, oil, gas, and chemicals.
The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to
The technology and services provided by
For more information please visit www.omniq.com.
About
DESIGNA is a world market leader in fully automated parking systems that redefines parking management technology and innovation. Based out of Kiel, Germany DESIGNA systems facilitate the management and parking in more than 17,500 complexes throughout the world. From individual covered car parks to systems that run thousands or airport parking spaces or integrated city network systems.
Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Examples of forward-looking statements include, among others, statements made in this press release regarding the closing of the private placement and the use of proceeds received in the private placement. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the
Contact Info:
IR@omniq.com
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