Plug-and-Play Vehicle Recognition Available for Mass Market
CHANTILLY, VA / ACCESSWIRE / May 30, 2019 / Rekor Systems, Inc. (NASDAQ: REKR) ("Rekor"), a leading provider of innovative vehicle recognition systems, announced today that it is accepting pre-orders for Rekor Edge™, its all-in-one camera and vehicle recognition solution designed to instantaneously read vehicle license plates, along with the vehicle's make, model, color and body type. Existing OCR-based license plate reading ("LPR") can cost as much as $30,000 and are difficult to install and maintain. With an MSRP of only $1,599 and an accuracy rate exceeding 99 percent, the Rekor Edge™ will be the most cost-effective vehicle recognition solution on the market, enabling broad adoption of the Company's vehicle recognition solutions in industries such as parking operations, logistics, customer loyalty, law enforcement - or virtually any business or government agency.
Until now, vehicle recognition solutions required significant technical expertise in integrating cameras, processors, and software to capture, read, convert, act upon, and store license plate and vehicle information. Rekor Edge™ provides all of this in one easy-to-use device, enabling nearly any business operator, homeowner's association representative, or security system provider to implement vehicle recognition solutions.
"With this groundbreaking new product, we are opening a channel to any commercial business or government agency that has been unable to afford LPR systems. With the introduction of Rekor Edge™, we take a giant step closer to bringing our industry-changing technology to the broader market," said Rod Hillman, Chief Operating Officer of Rekor. "Gone are the days of complicated, inaccurate, capital-intensive hardware that is dedicated only for the purpose of LPR and is expensive to maintain. With Rekor Edge™, we're democratizing vehicle recognition solutions by bringing a cost-efficient and user-friendly solution to potential markets, applicable in any vertical where an accurate reading of a license plate is needed."
Rekor Edge™ operates any 1080p-15fps with wide dynamic range and IR night vision, capturing full motion surveillance video, plate reads, and vehicle characteristics in all weather conditions. With plate reads at an industry-leading 99 percent accuracy, driven by a continuously improving machine learning engine, Rekor Edge™ opens the door to numerous business segments for LPR use. The system comes preloaded with a 3-year subscription to the vehicle recognition software, including maintenance, updates and support.
"We are excited about bringing the Rekor Edge™ to market because it performs all the functions of a traditional LPR system, contained within a small footprint security camera," said Scott Rutherford, Rekor's Executive Vice President of Innovation. "We are developing a family of products around this concept, with two more all-in-one systems and a universal edge device that will enable connection to any IP camera. Release of these additional products will be later this year. We have seen other devices that claim to have similar capabilities, but none of them come with the same highly accurate vehicle recognition out of the box."
To learn more about the Rekor Edge™ Vehicle Recognition System, please visit our website.
About Rekor Systems, Inc.
Rekor Systems, Inc., a Nasdaq-listed (REKR) Delaware company, is the parent of Maryland-based Rekor Recognition Systems, Inc. Our smarter, faster, cost-competitive solutions are disrupting major industries in over 60 countries across the globe, including security and surveillance, public safety, electronic toll collection, brand loyalty, parking operations, banking and insurance, logistics, and traffic management. We use the power of artificial intelligence to analyze video streams images and transform them into extract actionable information for our clients. Our machine learning enabled software can turn most IP cameras into highly accurate and affordable vehicle recognition devices. Rekor provides advanced vehicle recognition systems, powered by its innovative OpenALPR software, which dramatically improves the accuracy of license plate reads and can also identify the make, model and color of vehicles. Rekor's solutions include mobile and fixed license plate readers, "Move Over" law enforcement, school bus stop-arm enforcement, and red light and speed enforcement, parking enforcement and citation management. Rekor's solutions help to protect lives, increase brand loyalty, and manage complex supply chain logistics. Our systems can dramatically reduce the cost of collecting tolls on major highways or manage congestion in the bumper-to-bumper traffic of large cities, without the need to install expensive new infrastructure. We make what was once considered impossible, possible. To learn more please visit our website: https://rekorsystems.com.
Forward-Looking Statements
This press release includes statements concerning Rekor Systems, Inc. and its future expectations, plans and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size of the market for global ALPR systems. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.
Media Contact:
Matthew Bretzius
FischTank Marketing and PR
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Investor Contact:
Charles Degliomini
Rekor Systems, Inc.
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SOURCE: Rekor Systems, Inc.