Duos Technologies Opens “Engineering and Operations Center of Excellence”
New facility is another milestone in Company’s long-term growth plans
JACKSONVILLE, Fla., June 04, 2018 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (OTCQB:DUOT), a provider of intelligent security analytical technology solutions, has opened its new engineering and operations center. The facility will house the Company’s rapidly growing engineering and operations teams and will be used predominantly for testing Duos’ proprietary intelligent technologies and sub-systems. The facility will contain both offices and an assembly area for the pre-staging of projects designed for clients prior to field deployment.
Gianni Arcaini, the Company’s Chief Executive Officer, stated: “The construction of our engineering and operations center was not only accomplished in a very efficient timeframe, but it also denotes a very important benchmark for Duos going forward. This expansion was planned and funded as part of the capital raise completed last year and has been necessary in meeting the significant current and anticipated growth in revenue and scaling of our resource pool.”
The opening of the new “Engineering and Operations Center of Excellence” is one of several strategic steps Duos has planned for this fiscal year. The Company has been awarded several new large-scale projects, which were anticipated as the foundation for long-term growth. This facility, located a few minutes from Duos’ headquarters, supports that growth plan and completes another milestone in the execution plan outlined by the Company’s executive management. Recently, the Company issued revenue guidance of $9.3 million for fiscal year 2018, which is an increase compared to earlier projections.
About Duos Technologies Group, Inc.
Duos Technologies Group, Inc. (OTCQB:DUOT), based in Jacksonville, Florida, through its wholly owned subsidiary, Duos Technologies, Inc., provides advanced intelligent security and analytical technology solutions with a strong portfolio of intellectual property. The Company’s core competencies include intelligent technologies that combine machine learning, artificial intelligence and advanced video analytics that are delivered through its proprietary integrated enterprise command and control centraco® platform. The Company provides its broad range of technology solutions with an emphasis on mission critical security, inspection and operations within the rail transportation, retail, petrochemical, government, and banking sectors. Duos Technologies also offers professional and consulting services for large data centers. For more information, visit www.duostech.com.
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.’s 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: Duos Technologies
Corporate
Tracie Hutchins
Duos Technology Group, Inc.
904-652-1601
tlh@duostech.com
Investor Relations
Matt Glover or Tom Colton
Liolios
949-574-3860
DUOT@liolios.com
Released June 4, 2018