Duos Technologies Receives $1.9 Million Contract Add-on for Passenger Rail Client
April 18, 2023
Enhancement to the Vision-Based System Increases Total Contract Value by 17%
JACKSONVILLE, FL / Globe Newswire / April 18, 2023 - Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), through its operating subsidiary Duos Technologies, Inc., a provider of machine vision and artificial intelligence that analyzes fast moving vehicles, today announced an award of $1.9 million for the enhancement of a planned Railcar Inspection Portal (“rip®” or "RIP") system in the passenger transportation sector. This latest addition is part of a long-term installation of the Company's most advanced RIP system, which is designed to capture high-speed images of railcars at up to 125 miles per hour. The upgrade marks another milestone in Duos' commitment to providing advanced rail safety inspection solutions for its customers.
