First Official Train Passing Through Portal Featured in CSX Video
JACKSONVILLE, FL / ACCESSWIRE / January 14, 2020 / Duos Technologies Group, Inc. ("Duos" or the "Company") (OTCQX:DUOT), through its operating subsidiary Duos Technologies, Inc., a provider of intelligent analytical technology solutions, has completed its most recent Rail Inspection Portal (rip®) project award, which is also the first full-scale rip® implementation for CSX Transportation, Inc. (CSX).
Completed in record time, the portal was recently featured in a promotional video published by CSX, highlighting their renewed and expanded commitment to safety improvement and technological enhancements. This rip® installation and accompanying promotional effort underscore the increasing trend in the railroad industry of automating railcar mechanical inspections, which have historically been conducted manually.
Duos CEO Gianni Arcaini commented: "CSX is one of the seven Class 1 Railroad operators who own and operate a combined 140,000 miles of rail track, a significant and immediate growth opportunity for our Company. As an existing customer but a first-time buyer of our next generation rip® system, CSX has shown that they remain committed to working with cutting-edge technology providers like Duos to ensure the highest level of safety and efficiency."
Mr. Arcaini continued, "Their promotional video also effectively summarizes how the system works and illustrates how our technology automates a previously very manual process. Looking ahead, the next phase of this initial project includes the addition of artificial intelligence algorithms, which, when installed over the coming months, will mark the completion of the overall automation process."
The CSX video highlighting Duos' rip® technology can be viewed on the CSX website by clicking the following link.
About Duos Technologies Group, Inc.
Duos Technologies Group, Inc. (OTCQX: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiary, Duos Technologies, Inc., provides advanced 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 news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to Duos Technologies Group, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
Duos Technologies Group, Inc.
Matt Glover or Tom Colton
Gateway Investor Relations
SOURCE: Duos Technologies Group, Inc.
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Released January 14, 2020