Duos Technologies Secures $1.1 Million Contract Extension with Class 1 Rail Operator
Duos to Provide Additional Two Years of Maintenance and Support for Existing, Long-Term Customer
JACKSONVILLE, FL / ACCESSWIRE / May 29, 2019 / Duos Technologies Group, Inc. ("Duos" or the "Company" or "our") (OTCQB: DUOT), through its operating subsidiary Duos Technologies, Inc., a provider of intelligent security and analytical technology solutions, has received an award renewing its maintenance and support agreement with a long-time customer of its Rail Inspection Portal (rip®) technology. The contract specifies that Duos will provide an additional two years of service, extending the initial eight years that the Company has already been supporting this customer. The scope of work covered in the agreement requires uninterrupted software service, tech support and maintenance for the customer's portals, which currently perform a vital role in various inspections occurring at the US/Mexico border.
"Our premium software and tech support services are key to maintaining the high quality and functionality of our rail inspection portal technologies," said Gianni Arcaini, Duos Chairman and CEO. "The challenges that U.S. Customs and Border Protection faces day-to-day require guaranteed performance quality, making it critical that our inspection portals operate as intended. With this extension of our services, our Class 1 customer continues to recognize the value of our border security applications and re-affirms confidence in our abilities to maintain and support our installations. Going forward, we are continuing to make investments in our own infrastructure to ensure that our growing installed base of portals for railcar inspections is well supported into the future."
Separately, Duos is advancing its other capabilities for the rail transportation business and is expected to release a number of new technologies throughout 2019. Services supporting existing and planned new products include 24/7 support, preventative maintenance, inspection services and machine learning algorithms.
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.
Duos Technologies Group, Inc.
Matt Glover or Tom Colton
Gateway Investor Relations
SOURCE: Duos Technologies Group, Inc.
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Released May 29, 2019