Duos Technologies Group, Inc. (“Duos” or the
“Company”) (Nasdaq: DUOT), through its operating subsidiary Duos
Edge AI, Inc., a provider of adaptive, versatile, and streamlined
Edge Data Center (“EDC”) solutions tailored to meet evolving needs
in any environment, announced today that the newly appointed
President, Doug Recker, has identified the planned locations for
the first three units. The Company is preparing for the
construction and installation of the first EDCs exclusively for the
new entity which is expected to be deployed and operational in late
Q3.
With over 30 years of experience in
telecommunications and data centers, Mr. Recker will now lead the
subsidiary's initiatives to provide EDCs to remote districts,
including schools and health facilities. This venture will leverage
Duos' expertise in AI processing to drive innovation and efficiency
across various sectors. During a recent press conference, Mr.
Recker highlighted the significant opportunities for Duos in
delivering high-speed connectivity and compute power to underserved
areas, emphasizing the potential to revolutionize the technological
landscape for remote and rural communities.
"I am excited that we are off to a fast start
with the identification of the first three sites," said Mr. Recker,
President of Duos Edge AI. "We are identifying the resources
necessary to complete multiple units by the end of this year and my
expectation is that we will begin recording recurring revenues
starting in Q4."
Chuck Ferry, CEO of Duos, said that he is
pleased that the new subsidiary appears to be off to a fast start.
"Doug is updating me on his plans for Duos Edge AI and appears
poised to close some meaningful business in the near future." Mr.
Ferry added that the first EDC is expected to be in full revenue
production by late October, with the second and third units
following closely and expected to be in revenue production by
November.
Duos Edge AI, as a subsidiary of Duos, will
specialize in providing scalable, cost-efficient IT resources,
seamlessly integrating with existing infrastructure to enhance
capabilities at the network edge. The Company has considerable
experience in localizing resources close to devices, as duostech
has demonstrated with its Railcar Inspection Portals (RIP®), each
of which has an Edge Data Center co-located with the portal. The
objective is to provide maximum application effectiveness by
minimizing latency. Duos focuses on optimizing performance,
particularly for AI applications, utilizing distributed
architectures for computing efficiency across edge, cloud, and
enterprise layers.
Duos expects to make further announcements on
the progress of this business unit over the coming weeks.
To learn more about Duos Edge AI, visit:
www.duosedge.aiTo learn more about Duos Technologies, visit
www.duostechnologies.com
About Duos Edge AI, Inc.
Duos Edge AI is a subsidiary of Duos
Technologies Group, Inc. (Nasdaq: DUOT). Duos Edge AI's mission is
to bring advanced technology to underserved communities,
particularly in education, healthcare, and rural industries, by
deploying high-powered edge computing solutions that minimize
latency and optimize performance. Duos Edge AI specializes in
high-function Edge Data Center (“EDC”) solutions tailored to meet
evolving needs in any environment. By focusing on providing
scalable IT resources that seamlessly integrate with existing
infrastructure, its solutions expand capabilities at the network
edge, ensuring data uptime onsite services. With the ability to
provide 100 kW+ per cabinet, rapid 90-day deployment, and
continuous 24/7 data services, Duos Edge AI aims to position its
edge data centers within 12 miles of end users or devices,
significantly closer than traditional data centers. This approach
enables timely processing of massive amounts of data for
applications requiring real-time response and supporting current
and future technologies without large capital investments. For more
information, visit www.duosedge.ai.
About Duos Technologies Group,
Inc.Duos Technologies Group, Inc. (Nasdaq: DUOT), based in
Jacksonville, Florida, through its wholly owned subsidiaries, Duos
Technologies, Inc. and Duos Edge AI, designs, develops, deploys,
and operates intelligent technology solutions for Machine Vision
and Artificial Intelligence (AI) applications including real-time
analysis of fast-moving vehicles and Edge Data Centers. For more
information, visit www.duostech.com and Duos Edge AI.
Forward- Looking Statements
This news release includes 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, regarding, among other things our plans,
strategies and prospects -- both business and financial. Although
we believe that our plans, intentions and expectations reflected in
or suggested by these forward-looking statements are reasonable, we
cannot assure you that we will achieve or realize these plans,
intentions or expectations. Forward-looking statements are
inherently subject to risks, uncertainties and assumptions. Many of
the forward-looking statements contained in this news release may
be identified by the use of forward-looking words such as
"believe," "expect," "anticipate," "should," "planned," "will,"
"may," "intend," "estimated," and "potential," among others.
Important factors that could cause actual results to differ
materially from the forward-looking statements we make in this news
release include market conditions and those set forth in reports or
documents that we file from time to time with the United States
Securities and Exchange Commission. We do not undertake or accept
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in our expectations or any change in events, conditions or
circumstances on which any such statement is based, except as
required by law. All forward-looking statements attributable to
Duos Technologies Group, Inc. or a person acting on its behalf are
expressly qualified in their entirety by this cautionary
language.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e3805bf-e168-445b-ae17-fbd3bb0d5661
Contacts
CorporateFei KwongDirector, Corporate
CommunicationsDuos Technologies Group, Inc. (Nasdaq:
DUOT)+1.904.652.1625fk@duostech.comDUOT@duostech.com
Duos Edge AIMedia ContactiMiller Public
Relations+1.914.315.6424pr@imillerpr.com
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