National Retail Chain Awards Duos Contract to Implement Intelligent Distribution Center Logistics
Duos Technologies Expands to Retail Logistics Market
JACKSONVILLE, FL -- (Marketwired) -- 04/09/18 --
Duos Technologies Group, Inc. (the "Company" or "Duos") (OTCQB: DUOT), a provider of intelligent security analytical technology solutions, announced today that it has been awarded a contract through its subsidiary, Duos Technologies, Inc by one of the nation's largest retail chains to streamline gatehouse operations across the corporation's national distribution centers. The contract is valued at approximately $2.8M.
The automated system is based on proprietary intelligent technology developed by Duos for the Company's successful inspection portal core technology, which has been adapted to truck and intermodal container traffic entering and exiting distribution centers. The innovative design automates gatehouse logistics and creates comprehensive transactional documentation-reducing human error, improving efficiency, and significantly increasing throughput of in- and outbound vehicle traffic to and from the distribution centers.
"Our partnership with a leading retail corporation on this automation program demonstrates the trend toward streamlining logistics through intelligent systems," stated Noel Heiks, President and COO for Duos Technologies, Inc. "We are excited to deliver significant operational efficiencies for a rapid return on investment for our customers."
The system also integrates and correlates data with consolidation to a single central location, with an architecture that combines Duos' proprietary praesidium ™ analytics suite with the Company's centraco ™ interface platform.
Through this project Duos expands its application space from systems successfully deployed in other transportation verticals such as the rail industry-leveraging its powerful foundation of intelligent technologies.
"With this program, our investments in R&D and intellectual property bear fruit for an entirely new industry sector," stated Gianni Arcaini, the Company's Chief Executive Officer. "We expect more to come from the development of this application space, with a significant positive impact on our future revenue and vision," Arcaini said.
About Duos Technologies Group Inc.
Duos Technologies Group, Inc. (OTCQB: DUOT), based in Jacksonville, FL, through its wholly owned subsidiary, Duos Technologies Inc., provides intelligent security analytical technology solutions with a strong portfolio of intellectual property. 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. Duos Technologies Group also offers professional and consulting services for large data centers.
For more information, visit: http://www.duostech.com.
Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause Duos Technologies Group, Inc.' actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Duos' Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Duos' filings with the SEC.
Contacts:
Corporate
Tracie Hutchins
904-652-1601
tlh@duostech.com
Investors Relations
Adrian Goldfarb
904-652-1616
agg@duostech.com
Source: Duos Technologies Group, Inc.
Released April 9, 2018