JACKSONVILLE, FL / ACCESSWIRE / October 7, 2020 / Duos Applied sciences Group, Inc. (“Duos or the “Firm”) (NASDAQ:DUOT), by its working subsidiary Duos Applied sciences, Inc., has been awarded a brand new contract from current buyer CN (CNR) (CNI) (“CN” or “the railroad”), a world-class transportation chief and trade-enabler. The settlement, which is efficient instantly, consists of full North American service, help, upkeep and spare elements sourcing for the seven (7) Railcar Inspection Portals (rip®) presently in operation at CN. The entire contract will probably be acknowledged as recurring income by 2022.
Below the phrases of the settlement, Duos’ rip® system will establish particular railcar inspection factors, that are monitored and addressed utilizing synthetic intelligence (AI) purposes being developed by the railroad and built-in into the Duos centraco® platform.
“Continued service and upkeep of our methods is important to our partnership and success with CN as we additional develop, deploy and combine our options into their North American working atmosphere,” stated Chuck Ferry, Chief Government Officer for Duos Applied sciences. “This funding will dramatically impression the general productiveness and uptime for the railroad’s options, and we significantly respect our continued relationship and CN’s belief in Duos to ship cutting-edge options.”
About Duos Applied sciences Group, Inc.
Duos Applied sciences Group, Inc. (Nasdaq: DUOT), based mostly in Jacksonville, Florida, by its wholly owned subsidiary, Duos Applied sciences, Inc., gives superior, analytical expertise options with a powerful portfolio of mental property. The Firm’s core competencies embrace clever applied sciences that mix machine studying, synthetic intelligence and superior video analytics which might be delivered by its proprietary built-in enterprise command and management centraco® platform. The Firm gives its broad vary of expertise options with an emphasis on mission important safety, inspection and operations throughout the rail transportation, retail, petrochemical, authorities, and banking sectors. Duos Applied sciences additionally presents skilled and consulting providers for big information facilities. For extra info, go to www.duostech.com.
CN is a world-class transportation chief and trade-enabler. Important to the economic system, to the purchasers, and to the communities it serves, CN safely transports greater than 300 million tons of pure sources, manufactured merchandise, and completed items all through North America yearly. As the one railroad connecting Canada’s Japanese and Western coasts with the Southern tip of the U.S. by a 19,500 mile rail community, CN and its associates have been contributing to neighborhood prosperity and sustainable commerce since 1919. CN is dedicated to packages supporting social duty and environmental stewardship
Ahead Wanting Statements
This information launch consists of forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Trade Act of 1934, as amended, relating to, amongst different issues our plans, methods and prospects — each enterprise and monetary. Though we consider that our plans, intentions and expectations mirrored in or steered by these forward-looking statements are affordable, we can’t guarantee you that we are going to obtain or understand these plans, intentions or expectations. Ahead-looking statements are inherently topic to dangers, uncertainties and assumptions. Lots of the forward-looking statements contained on this information launch could also be recognized by way of forward-looking phrases similar to “consider,” “count on,” “anticipate,” “ought to,” “deliberate,” “will,” “might,” “intend,” “estimated,” and “potential,” amongst others. Necessary elements that might trigger precise outcomes to vary materially from the forward-looking statements we make on this information launch embrace market circumstances and people set forth in stories or paperwork that we file once in a while with the US Securities and Trade Fee. All forward-looking statements attributable to Duos Applied sciences Group, Inc. or an individual performing on its behalf are expressly certified of their entirety by this cautionary language.
Duos Applied sciences Group, Inc. (Nasdaq: DUOT)
Matt Glover or Tom Colton
Gateway Investor Relations
SOURCE: Duos Applied sciences Group, Inc.
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