Q-Free: Tolling ARR contract in Norway
Vegamot AS, a Norwegian tolling operator, has awarded Q-Free the contract to design, deliver and service tolling roadside equipment for “Bypakke Ålesund” (ENG: policy package for the city of Ålesund). Project deliveries will be completed in 2022, but the contract is mainly structured as a service contract that will generate annual recurring revenues over a period of 15 years. The recurring revenue element of the contract will exceed Q-Free’s announcement threshold of 2.5 MNOK per year. In order to ensure that Q-Free can maintain its competitiveness on future call-offs, the exact amount