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IRD will replace existing Virtual Weigh-In-Motion (VWIM) sites with upgraded technologies
New sites will expand coverage of IRD's TACS tire screening solution to improve road safety on the Illinois Tollway network
These sites will deliver the first multi-lane applications of IRD's TACS tire safety screening technology
SASKATOON, SK, May 11, 2022 /PRNewswire/ - International Road Dynamics Inc. (IRD), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH) (OTCQX: QTRHF), announced today that the company has been awarded two contracts totalling $1.2 million for Weigh-In-Motion (WIM) system upgrades for the Illinois State Toll Highway Authority ("Illinois Tollway"). The new sites will be used by the Illinois State Police ("ISP") to monitor commercial vehicles for weight and tire violations. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.
The upgrade project includes the removal of existing WIM Systems on I-94 and I-355, installation of new Virtual Weigh-In-Motion (VWIM) sites comprising WIM sensors, iSINC® WIM controllers, cameras, over-height detection sensors, and Tire Anomaly and Classification Systems ("TACS"). The WIM sensors will be used to screen for overweight vehicles and the TACS systems will identify vehicles that are unsafe due to flat, missing, mismatched, or underinflated tires.
IRD's Virtual Weigh Station ("VWS") web-based operator interface software will enable remote identification of violations for more efficient enforcement by ISP. The VWS provides accessibility to real-time data including camera images, vehicle record data, and user reports. The TACS systems will be integrated with the VWS to display the locations of the tire anomalies on vehicle records. Under the terms of the contracts, IRD will also provide Illinois Tollway and ISP personnel with training on the operation of the systems. IRD's Construction Services will support the electrical and construction work at the sites and supervise the installation of all in-road sensors to ensure faster, safer, and an efficient installation resulting in shorter road closures and less disruption of traffic.
"IRD has a longstanding presence in Illinois as a leading supplier of WIM technology," said Rish Malhotra, IRD President and CEO. "We are excited to deliver these new projects, installing state-of-the-art upgrades and new functionality, that aligns will the mission of Illinois DOT, Illinois Tollway and ISP to improve safety and efficiency as well as deliver a cost-effective transportation system extending the life of the Tollway's infrastructure and enhance the quality of life in Illinois. These future-focused systems unlock new value anticipating our customers' current planning needs as well as ensuring that the data from our systems will provide new insights well beyond the immediate commercial vehicle enforcement requirements."
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: www.irdinc.com
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry, as well as, through its Wi-LAN Inc. subsidiary, a leader in Intellectual Property licensing. Our goal is global leadership in ITS, by organic growth of the Electronic Transaction Consultants, LLC and International Road Dynamics Inc. 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, please visit www.quarterhill.com
This news release contains forward-looking statements regarding IRD, Quarterhill and their businesses. Forward-looking statements are based on estimates and assumptions made by IRD and/or Quarterhill in light of their experience and perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that IRD and/or Quarterhill believe 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 IRD and/or Quarterhill, including: potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus ("COVID-19"); the severity of the disease; the duration of the COVID-19 outbreak; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and financial markets and any resulting impact on IRD and/or Quarterhill and/or their businesses. Other factors include, without limitation, the risks described in Quarterhill's March 20, 2022 annual information form for the year ended December 31, 2021 (the "AIF"). Copies of the AIF may be obtained at www.sedar.com. IRD and Quarterhill recommend that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of IRD's forward-looking statements. IRD 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.
SOURCE Quarterhill Inc.