Transportation Infrastructure and AI Tech Firms Join Forces to Help US Accelerate Safer, Smarter, More Sustainable Roadways

COLUMBIA, MD / ACCESSWIRE / October 30, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology using AI and machine learning, today announced a multi-year strategic partnership with NextMove by Cintra ("NextMove"), the digital business venture of Ferrovial's highway division. The partnership aims to accelerate the connected vehicle and infrastructure ecosystem to create safer, more efficient, and sustainable transportation solutions.

Rekor and NextMove's partnership is well-positioned to drive digital infrastructure innovation and sustainable transportation solutions that foster economic growth and enhance mobility across the US.

David Desharnais, President and COO of Rekor, stated, "Our partnership with NextMove is a major milestone in accelerating the digitization of infrastructure that enables Connected Infrastructure and Road Usage Charge programs - critical steps towards creating safer, smarter, and greener cities. Combining our Rekor One® Roadway Intelligence engine that generates insights from trillions of data points, including from our connected vehicle ecosystem, with NextMove's leading infrastructure and roadway technology capabilities, we are helping shape the future of mobility. A future that is not only intelligent, sustainable, and safer, but also a driving force for economic growth, environmental stewardship, and social progress."

The partnership is already delivering value to the public sector by leading the Connected Vehicle Ecosystem (CVE) project in partnership with the Oregon Department of Transportation (ODOT), along with Gannett Fleming and ClearRoad.

"We are thrilled to collaborate with Rekor to advance solutions that help the US accelerate the transition to digital infrastructure during the rapid shift to vehicle electrification," said Brad Wright, CEO of NextMove. "With our expertise and Rekor's advanced roadway intelligence technology, we are reimagining the transportation industry through intelligent infrastructure."

About Rekor Systems, Inc.

Rekor Systems, Inc. (NASDAQ: REKR) is a leader in developing and implementing state-of-the-art roadway intelligence systems using AI and machine learning. Pioneering the implementation of digital infrastructure in our communities, Rekor is redefining infrastructure by collecting, connecting, and organizing the world's mobility data - laying the foundation for a digital-enabled operating system for the road. With our Rekor One® Roadway Intelligence Engine at the foundation of our technology, we aggregate and transform trillions of data points into intelligence through proprietary computer vision, machine learning, and big data analytics that power our platforms and applications. Our solutions provide actionable insights that give governments and businesses a comprehensive picture of roadways while providing a collaborative environment that drives the world to be safer, greener, and more efficient. To learn more, please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, Twitter, Threads, and Facebook.

About NextMove by Cintra

NextMove by Cintra develops and delivers advanced mobility technology products and systems that power sustainable infrastructure today and into the future, including Road Usage Charging and Connected Vehicle and Infrastructure systems. NextMove is the digital business venture of Cintra, a subsidiary of Ferrovial. For more information, visit nextmovebycintra.com

About Ferrovial

Ferrovial is a global infrastructure operator committed to developing innovative solutions for a world on the move. With more than 70 years of experience, its family of companies holds leadership positions in transportation infrastructure, construction, waterworks, and energy. The company operates in 15 countries, and its activities are mainly concentrated in the USA, Spain, the United Kingdom, Canada, and Poland. Ferrovial Holding US is headquartered in Austin, Texas, with over 4,000 employees across the country. For more information, visit ferrovial.us

Forward-Looking Statements

This press release and its links and attachments contain statements concerning Rekor Systems, Inc. and its future expectations, plans, and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for ALPR systems. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.

Media & Investor Relations Contacts:

Rekor Systems, Inc.
Charles Degliomini
ir@rekorsystems.com

Ferrovial
Rebecca Rountree
rrountree@ferrovial.com

SOURCE: Rekor Systems, Inc.