Quarterhill Awarded $5.3 Million Tennessee Statewide Weigh-In-Motion Contract
- Quarterhill subsidiary IRD will install Weigh-In-Motion technology at 28 sites on various Interstate and State Routes.
- The sites will collect vehicle data related to road infrastructure protection and monitor commercial vehicle routes to improve highway safety.
SASKATOON, SK, March 7, 2024 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces that its wholly-owned subsidiary, International Road Dynamics Inc. ("IRD"), has been awarded a $5.3 million contract by the Tennessee Department of Transportation ("TDOT") to install Weigh-In-Motion ("WIM") systems at 28 sites on interstate and state routes across Tennessee. Installation is expected to be completed in May 2025. All financial information in this press release is reported in Canadian dollars.
TDOT is promoting the advancement of WIM in the state through the development of a statewide WIM program. The WIM systems will capture and record axle weights and gross vehicle weights as vehicles drive over the measurement sites at highway speeds. The sites will provide data on commercial vehicle characteristics in certain transit corridors for asset management and design improvements.
Some of the WIM sites are co-located with enforcement sites operated by the Tennessee Highway Patrol, who will integrate their commercial vehicle inspection program with the WIM data. In addition to collecting data, the WIM systems will be able to determine if trucks are overloaded so they can be routed to inspection stations for ticketing, thus cutting down on excessive highway wear-and-tear and the number of unsafe vehicles on the road. There is also the potential for future upgrades of the sites with E-screening technology to automate the evaluation of driver and trucking company safety ratings, resulting in enhanced enforcement capabilities and further improvements to highway safety.
"We are pleased to collaborate with TDOT on this project to elevate highway safety and efficiency in Tennessee," said Chuck Myers, CEO of Quarterhill. "The deployment of advanced WIM systems will provide vital data to facilitate effective enforcement, enhance asset management, and significantly improve the safety of Tennessee's highways. This project is our first major initiative in Tennessee, and we look forward to exploring opportunities to expand our footprint further in the State."
About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics Inc. (IRD) platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, visit www.quarterhill.com.
About IRD
IRD is a dynamic technology company engaged in developing key components and advanced systems for the next generation of transportation networks. Together with subsidiaries PAT Traffic and IRD Europe (ICOMS Detections, Sensor Line and VDS), IRD supplies Intelligent Transportation Systems (ITS) to private corporations, transportation agencies, and highway authorities around the world. IRD's systems make highways safer, greener, and more efficient. Known globally as a trusted partner providing sales, service, and installation support on major ITS projects for over 40 years, IRD contributes to creating smarter cities by empowering engineering and urban planning professionals to access reliable traffic data. For more information, visit www.irdinc.com
Forward-looking Information
This news release contains forward-looking statements regarding Quarterhill, its operating subsidiaries and their respective businesses. Forward-looking statements are based on estimates and assumptions made by Quarterhill in light of its experience and its perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that Quarterhill believes are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Quarterhill, which include, without limitation, the risks described in Quarterhill's March 22, 2023 annual information form for the year ended December 31, 2022 (the "AIF"). In addition, readers are also urged to review the additional risk factors disclosed in our Management's Discussion and Analysis for the three and nine months ended September 30, 2023 filed on www.sedarplus.ca. Quarterhill recommends that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of Quarterhill's forward-looking statements. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Quarterhill Inc.
