2023-03-14 08:42:00 ET
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Duos Technologies ( NASDAQ: DUOT ) has secured contract modifications worth an additional $1.1M in upgrades to a new system for an existing customer in the passenger transportation sector.
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The add-ons are part of a long-term installation of the company’s high-end Railcar Inspection Portal (“RIP”) that is designed to capture images at up to 125 miles/hour.
- “We have been working for many years with our Class 1 customers to refine critical defect detection requirements and have invested tens of millions of dollars in designing, developing, and deploying the latest imaging technologies and artificial intelligence models to address their needs,” said Duos Chief Executive Officer Chuck Ferry.
- Shares are trading down 7.51% premarket.
For further details see:
Duos technologies secures $1.1M in add-on upgrades for passenger rail contract