Duos Technologies Awarded Contract for Train Imaging System
Vehicle Undercarriage Examiner System to Be Deployed for Class I Railroad
JACKSONVILLE, FL -- (Marketwired) -- 02/09/16 -- Duos Technologies Group, Inc. (OTCQB: DUOT), a provider of intelligent analytical technology solutions, has been awarded a Vehicle Undercarriage Examiner (vue™) imaging system contract from another major railroad operator.
The vue™ system is part of duostech's proprietary Railcar Inspection Portal technology, the company's latest innovation that combines several of the company's intelligent technologies and sub-systems using analytical algorithms to process and evaluate a broad range of data from multiple sensor technologies.
"Our imaging systems address specific challenges that require enhanced inspection and detection for monitoring and maintaining the structural health of railcars," stated Felix Krupczynski, EVP & GM for Duos Technologies. "We are excited to have once again been selected to launch this very important and strategic technology that demonstrates the capabilities of our intelligent systems, processes, and delivery to meet our customer needs."
One of the major objectives of this new technology focuses on reducing "terminal dwell time" of rolling stock. Terminal dwell time is the period rolling stock is held in a yard for maintenance. Minimizing dwell time is key to improving operating ratios and is one of, if not the, most significant industry metric for profitability.
"We believe that this is just the beginning of an industry-wide change in management strategies, which will take advantage of emerging technologies for the automation of the rail car inspection process. The automation will be a significant force multiplier to the field inspection teams, as it will improve operating ratios, increase capacity and improve efficiencies while increasing safety," stated Gianni Arcaini, CEO of Duos Technologies. "We are elated to be at the forefront of this paradigm shift of operational effectiveness utilizing our intelligent technology systems. Our R&D team is in the process of developing several additional technologies which will significantly expand the functionality of our rail inspection portal and provide the rail industry with a meaningful cost reduction to their current maintenance process."
About Duos Technologies Group Inc.
Duos Technologies Group, Inc. (OTCQB: DUOT), based in Jacksonville, FL, provides intelligent security analytical technology solutions with a strong portfolio of intellectual property. Its Duos Technologies' core competencies include advanced intelligent technologies that are delivered through its proprietary integrated enterprise command and control platform, centraco™. The Company provides its broad range of technology solutions with an emphasis on mission critical security, inspection and operations within the rail, utilities, petrochemical, healthcare, and hospitality sectors. The Duos Technologies Group also offers IT, professional services.
For more information, visit: http://www.duostech.com.
Forward Looking Statements
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to market wide acceptance of the train imaging system, revenue generation and ultimate profitability, our business environment and industry trends, competitive environment, the sufficiency and availability of working capital and general changes in economic conditions. We undertake no obligation to revise or update any forward-looking statement for any reason.
Corporate
Jean Martin
904-652-1601
jmm@duostech.com
Investors Relations
Adrian Goldfarb
904-652-1616
agg@duostech.com
Source: Duos Technologies Group, Inc.
Released February 9, 2016