Duos Technologies Group, Inc.—through its operating subsidiary Duos Technologies, Inc.—has been awarded a $2.3 million contract with a Class I freight railroad to replace an earlier generation system with Duos’ latest version of rip®, the Jacksonville, Fla.-based company’s railcar inspection portal.
The award includes “a five-year contract for technical support as well as the development and maintenance of a significant library of Artificial Intelligence (AI) algorithms with the objective of automating certain aspects of the client’s railcar inspection process.”
“Our rip® technology substantially improves the efficacy of inspections through high-resolution 360-degree imaging of railcars passing through our proprietary rip®, and it also incorporates a myriad of proprietary critical security features,” said Scott Carns, EVP and interim-COO of Duos Technologies, Inc. “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. These areas are the paramount focus of today’s global rail industry.”
“We continue to build our railcar inspection vertical with both the freight and passenger railroads in mind,” said Gianni Arcaini, the Duos’ CEO. “Going forward, we expect further growth from our rail technology business in the years ahead to come from other automation projects. Our new subsidiary truevue360™ is expanding our library of AI-based automated inspection strategies and represents a significant growth opportunity, and differentiator, for the Company in this application space. The combination of our advanced, engineered rail inspection technologies with our artificial intelligence capabilities represents, what we believe is a complete solution for transportation applications.”