Q-Free: Tolling contract in Portugal - 148 MNOK
The motorway operator Ascendi O&M, S.A. has signed a 5-year extension of its service and maintenance agreement with Q-Free in Portugal. Q-Free will provide back-office services, remote monitoring, and field service for Multi-Lane Free Flow tolling systems delivered to Ascendi O&M, S.A. (reference is made to the announcement on 20th July 2020). The contract has a guaranteed total value of approximately 148 MNOK over the coming 5 years with options to further extend the contract period.
“We are very pleased to continue our close collaboration with Ascendi, which has been a customer of ours since 2009. Under the new contract Q-Free will continue to provide best-in-class service and maintenance of Ascendi’s upgraded tolling infrastructure. This contract is a part of Q-Free’s growing base of recurring revenues”, says Trond Christensen, Q-Free’s Interim CEO.
For further information, please contact:
Trond Christensen: Interim CEO, +47 481 02 754
This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Rita Bøe Isaksen, Board Secretary in Q -Free ASA, on 01 July 2022 at 08:30 CET.
About Q-Free:
Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems that improve traffic flow, road safety, and air quality. With an open, collaborative approach to tolling, traffic and active transportation management, Q-Free works with customers and partners on every continent to digitize infrastructure and overcome modern mobility challenges for the greater good of society. Headquartered in Trondheim, Norway, Q-Free has annual revenues of approximately 900 million NOK (100 MUSD) and employs approximately 350 transportation innovators, experts, and enthusiasts. To learn more about how Q -Free is "changing the movements of life", visit www.q-free.com or Twitter:@Q -FreeASA