QTRH Quarterhill Inc

• IRD will operate, maintain, and add to the state's 91 Continuous Traffic Monitoring sites
• IRD's iTHEIA™ AI Classification system will be implemented at a number of sites

SASKATOON, SK, Sept. 13, 2023 /CNW/ - International Road Dynamics Inc. ("IRD"), a wholly-owned subsidiary of Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), announced today that it has been awarded a contract by the State of Hawaii Department of Transportation ("HDOT") for Continuous Traffic Monitoring ("CTM") Data Collection Goods and Services Statewide. CTM systems collect traffic volume, speed, vehicle classification, and weight data to support HDOT's continuous traffic monitoring program. The total five-year contract value is $13.7 million. All Financial information in this press release is reported in Canadian dollars unless otherwise indicated.

This agreement involves the operation, data collection, data reporting, maintenance, and repair of all existing HDOT CTM sites, along with additional equipment installation. There are currently 91 CTM sites in operation, with additional site locations to be added during the term of the project.

The CTM site data, including real-time data, will be accessible to both HDOT and the public through a web portal. Traffic data from the systems will help to further the HDOT's mission to provide a safe, efficient, accessible, and sustainable inter-modal transportation system that ensures the mobility of people and goods, thus fostering economic development and quality of life.

HDOT intends to convert one existing CTM site per year into a video-based vehicle classification site during the term of the contract. IRD will supply the iTHEIA AI Classification System, which utilizes a powerful edge computing platform to process video data entirely at the roadside. This represents the first use of iTHEIA in a statewide CTM and further establishes IRD as a leader in Artificial Intelligence applications within the Intelligent Transportation Systems industry.

Existing HDOT weigh-in-motion sites have been equipped to function as virtual weigh stations to provide per-vehicle data and to support HDOT commercial vehicle operations programs. Approximately 12 stations have overview cameras that will produce images that will be made available with real-time data and reports.

Traffic data from the CTM systems will be used for traffic planning, noise studies, changes in highway travel patterns, and related factors. The data will also factor into assessments of the impact heavy vehicles have on the state's pavement and will help to determine the commercial vehicle operations and enforcement plans required.

"This contract highlights continued momentum at IRD, our enforcement solutions unit, which has had a strong year so far in 2023," said Chuck Myers, CEO of Quarterhill. "Long-term relationships, such as the one we have with HDOT, provide us with a solid base from which we can introduce new enforcement solutions that further help customers meet their transportation management goals."

Rish Malhotra, IRD's CEO, added, "IRD takes immense pride in our 25-year-long association with HDOT, one that has greatly contributed to the enduring success of their traffic data collection program. With the addition of the iTHEIA video-based vehicle classification solution and IRD's advanced weigh-in-motion and virtual weigh station systems, we are addressing the needs of HDOT today and into the future."

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. For more information, visit www.irdinc.com 

Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics Inc. (IRD) 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. For more information, visit www.quarterhill.com.      

This news release contains forward-looking statements regarding Quarterhill, its operating subsidiaries and their respective businesses. Forward-looking statements are based on estimates and assumptions made by Quarterhill in light of its experience and its perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that Quarterhill believes 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 Quarterhill, which include, without limitation, the risks described in Quarterhill's March 22, 2023 annual information form for the year ended December 31, 2022 (the "AIF"). In addition, readers are also urged to review the additional risk factors disclosed in our Management's Discussion and Analysis for the three months ended June 30, 2023 filed on www.sedarplus.ca. Quarterhill recommends that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of Quarterhill's forward-looking statements. Quarterhill 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.

View original content:https://www.prnewswire.com/news-releases/ird-awarded-13-7-million-hawaii-traffic-data-collection-contract-301925734.html

SOURCE Quarterhill Inc.