Rekor Systems, Inc. (NASDAQ: REKR) shares gained sharply in the first hour on Friday. The Columbia, Md.-based company, a leader in developing and implementing state-of-the-art roadway intelligence technology, announced a transformative deployment with a Sun Belt state transportation agency.
As part of a new state initiative to upgrade its planning and operations capabilities, Rekor will deploy 150 Rekor Discover® systems under a one-year Data-as-a-Service contract valued at $1.2 million. The Company expects all 150 systems to be installed within 60 days.
The program will enable the agency to use Rekor's Roadway Data-as-a-Service model to modernize traffic data collection and monitoring.
The Rekor Discover® platform complies with Federal Highway Administration requirements and uses AI-enabled roadside sensors to generate detailed, per-vehicle data using proprietary privacy protection techniques.
This eliminates the need to rely on intrusive in-road sensors that create dangerous and disruptive traffic conditions and pose roadway worker safety risks when they fail or need to be maintained.
"This marks a pivotal milestone in the evolution of Data-as-a-Service for U.S. transportation agencies, led by forward-thinking departments," said General Manager Mark Phillips. "Our vision is to replace the tens of thousands of single-function roadway devices currently in use worldwide with a scalable, AI-powered platform that delivers richer, safer, and more actionable traffic insights. International transportation authorities are increasingly looking to this model, making this a national achievement and a foundational step toward global transformation."
REKR shares jumped 10 cents, or 7.2%, to $1.56.
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