Q-FREE - CONTRACT IN USA – NOK 41 million
Q-Free has been awarded a contract from Miami-Dade Expressway Authority (MDX), USA. The contract comprises implementation and operation of Q-Frees’ Enhanced Imaging Processing (EIP) solution. The contract value is estimated, based on transaction volume from the current traffic, to be NOK 41 million.
The Q-Free EIP solution ensures that all video based transactions captured at the MDX tolling lanes will be converted into billable transactions or violations. After the initial implementation, Q-Free will support and operate the system on behalf of the customer for a period of 2 years. Optional, and upon joint agreement, the contract can be extended for up to two more years.
“This contract is evidence of Q-Free’s global leadership in road user charging solutions based on video and imaging technology. Q-Free has supplied core Automatic License Plate Registration (ALPR) software to the US market for years and hence providing us a solid foundation to extend our opportunities by offering more advanced higher value add solutions like the EIP system”, says CEO Dr. Øyvind Isaksen. ”The USA is the world’s largest Road User Charging market and we see a clear trend in the US towards free flow All Electronic Tolling systems. This will in turn create an increased demand for advanced imaging solutions for which Q-Free is very well positioned”, concludes Dr. Isaksen.
The project will start immediately. The EIP system is planned to go live in Q1-2014.
Q-Free has a subsidiary in San Diego, USA.
Trondheim 23rd of September 2013
For further information, please contact:
CEO Øyvind Isaksen, cell: +47 905 59 401
CFO Roar Østbø, cell: +47 932 45 175
Q-Free is a leading global supplier of products and solutions for Road User Charging and Advanced Transportation Management. The company has pproximately 290 employees and is represented in 17 countries. Headquarter is based in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange with the ticker QFR.
Twitter: @Q-FreeASA
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