Duos Technologies Group, Inc. Signs an Amendment to A Master Material and Service Purchase Agreement
June 06, 2024 at 04:31 pm EDT
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On May 28, 2024 with an effective date of June 01, 2024, Duos Technologies Group, Inc. (Duos) signed an amendment to a Master Material and Service Purchase Agreement with a Class 1 railroad for the provision of services related to the maintenance and support of the railroad?s seven Duos railcar inspection portals (RIPs). As part of the overall agreement, Duos and the railroad entered into a further five-year agreement giving Duos the rights to market data subscriptions to owners and lessors of railcar assets for the provision of mechanical and safety data. Duos recently was awarded multiple patents on the technology process and methodology including the use of Artificial Intelligence (AI).
Duos Technologies Group, Inc., through its wholly owned subsidiary, Duos Technologies, Inc., designs, develops, deploys, and operates intelligent vision-based technology solutions using machine vision and artificial intelligence (AI) to analyze fast moving freight, passenger and transit trains and trucks streamlining operations, improving safety, and reducing costs. The Company provides solutions that automate the mechanical and security inspection of fast-moving trains, trucks, and automobiles through a broad range of hardware, software, information technology and AI. Its Railcar Inspection Portal (RIP) provides both freight and transit railroad customers and select government agencies the ability to conduct fully remote railcar inspections of trains while they are moving at full speed. It has also developed the automated logistics information system (ALIS) which automates gatehouse operations where transport trucks enter and exit large logistics and intermodal facilities.
DUOS TECHNOLOGIES GROUP, INC. 
