Duos Technologies Group Inc (OTCMKTS:DUOT) subsidiary Duos Technologies Inc won a $1.8 million contract for one of its signature turn-key Rail Inspection Portals (RIP) from a Class 1 freight railroad client.
Installation of the portal is expected to be completed by the end of 2019. The agreement includes a contract for technical support as well as the development of artificial intelligence (AI) algorithms to automate parts of the train inspection process.
The Jacksonville, Florida company’s RIP technology is set up on and around train tracks like a door frame. When a train passes through, at speeds of up to 120 miles per hour, the sensors create a 360-degree digital scan of a train that lets companies inspect their railcars for any issues.
Class 1 railroads include the largest railroad companies by revenue in North America.
"Our RIP technology substantially improves the efficacy of inspections through automated, high-resolution, 360-degree imaging of railcars passing through our inspection portal, and it also incorporates a myriad of proprietary critical security features," interim COO Scott Carns said. "We believe monitoring and maintaining the structural health of railcars and their operating environment is of critical importance to the security, safety and efficiency of railroad operation."
Looking forward, Carns said he expects automation to become an even bigger part of the global rail industry.
“We expect further growth from our rail technology business to come from other automation projects with an emphasis on our artificial intelligence program,” Carns said. “Our subsidiary truevue360 is expanding our library of AI-based automated inspection strategies which we believe represents a significant growth opportunity, and differentiator, for the company in this space."
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