Duos Technologies Awarded Patent for High Definition Speed Sensing Technology
Linear Speed Measurement a Key Factor in the Company’s Rail Inspection Portal
JACKSONVILLE, Fla., Nov. 01, 2018 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (OTCQB: DUOT), through its operating subsidiary Duos Technologies, Inc., a provider of intelligent security and analytical technology solutions, has been awarded a patent by the U.S. Patent and Trademark Office for its Linear Speed Measurement (“LSM”) technology. The LSM technology allows the “stitching” of images that are a single pixel wide into an accurate high-definition image of a train with up to 100 or more cars. Without this technology, images may appear compressed or stretched, reducing the effectiveness of both operator inspection and algorithmic detection of mechanical issues.
The Company’s proprietary design significantly increases the accuracy of the speed information compared to commercially available measurement devices and can detect speed differences down to less than 0.01 MPH. The LSM has undergone extensive field testing through deployment in the Company’s growing base of rail inspection portals. The LSM is also an important underlying technology as the Company advances its artificial intelligence capabilities.
“This patent represents a confirmation of the advanced nature of our intelligent technologies which we are continuing to bring to the market,” stated Gianni Arcaini, Chief Executive Officer of Duos. Expanding our technology portfolio and incorporating leading technologies is consistent with our short-term as well as mid-term strategic plan. We expect to bring more innovative technologies to market in the future, which we expect to have a positive impact on our long-term revenue stream.” With this award. Duos now has 10 patents granted in total.
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 or the negative of these terms and 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 November 1, 2018