International Road Dynamics Inc. (Canada) - Press Release: International Road Dynamics Inc. (“IRD”), a Quarterhill Inc. (“Quarterhill”) company (TSX:QTRH) (OTCQX:QTRHF), announces the award of a $7.6 million contract to upgrade three of its legacy Weigh-in-Motion (“WIM”) systems with the District of Columbia’s District Department of Transportation (“DDOT”). These systems will be augmented with IRD’s Virtual Weigh Station (“VWS”) and Electronic Screening (“E-screening”) systems to perform commercial vehicle enforcement. All Financial information in this press release is reported in Canadian dollars unless otherwise indicated.
The project includes upgrading and repairing high-speed WIM stations and associated civil works at three sites. DDOT has existing IRD WIM data systems at these locations that utilize Single Load Cell (“SLC”) WIM scales. The SLC scales will be reconditioned with new load cells and platforms installed in the existing frames. The scales have provided continuous service for over 15 years providing research-quality data over a much longer life than is typical for WIM sensors.
The upgraded WIM scales will be augmented with new cameras, license plate readers, iSINC system electronics, Virtual Weigh Station software, an Intelligent Roadside Operation Computer, and dynamic message signs. DDOT end users will have complete remote access to commercial vehicle records using a laptop computer. The remote user is also able to control the message signs that direct vehicles to report for inspection and issuance of overweight citations.
Upgrading DDOT’s WIM systems to provide information to the district’s commercial vehicle enforcement personnel will provide several benefits, including:
- Improved safety: Overweight or overloaded trucks are more likely to cause accidents and can also cause damage to roads and bridges. By identifying these vehicles and enforcing weight limits, DDOT will improve safety for all drivers and reduce the cost of repairs to infrastructure.
- Increased revenue: By enforcing weight limits and issuing fines to violators, the district can increase revenue that can be used to repair and maintain its infrastructure.
- Increased efficiency: Upgrading a WIM system to provide information to commercial vehicle enforcement personnel can help improve the efficiency of their operations. With access to real-time data on truck weights and other characteristics, enforcement personnel can more easily identify violations and target their efforts where they are most needed.
“The SLC WIM system is one of the foundational technologies that built IRD’s reputation, and we’re pleased to see one of our longstanding customers continue to build their projects around our most durable WIM offering. The SLC WIM system provides long-term value and high-speed weighing accuracy in an easy-to-service system that is well suited to data and enforcement applications,” said Rish Malhotra, IRD President and CEO. “Upgrading DDOT’s WIM data systems with IRD’s advanced VWS functionality will provide information to the district’s commercial vehicle enforcement personnel and help improve safety, increase revenue, improve efficiency, and promote better compliance with weight limits and other regulations.”
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.
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. 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.
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, without limitation, the risks described in Quarterhill’s March 22, 2023 annual information form for the year ended December 31, 2022 (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.