- Alameda CTC's fully electronic express lanes increase
the efficiency of the I-580 and I-680 corridors by giving drivers
the option to bypass congested traffic segments under certain
conditions.
- Upgrading the I-580 system will create a single, unified
platform for Alameda CTC and solidify Quarterhill as its sole
Express Lane vendor through 2032.
TORONTO, Jan. 6, 2025
/CNW/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX:
QTRH) (OTCQX: QTRHF), a global leader in providing intelligent
transportation system solutions, announced today that has been
awarded a contract valued at $40
million to upgrade the Alameda County Transportation
Commission ("Alameda CTC") I-580 Express Lanes. The project will be
implemented over 17 months and includes seven (7) years of
operations and maintenance. The contract provides Alameda CTC with
the option to procure up to four (4) additional years of operations
and maintenance at an additional cost of $15
million. All financial information in this press release is
reported in U.S. dollars.
The Alameda CTC I-580 express lanes are specially designated
highway lanes designed to improve travel times and alleviate
traffic congestion across Alameda County. These lanes enable a more
reliable traveling experience for commuters and travelers in the
county by providing an option to bypass congested traffic segments
under certain conditions. Express lanes help in managing and
mitigating traffic congestion, directly benefiting not just the
users of these lanes but also potentially improving conditions in
the general-purpose lanes. The I-580 Express Lanes span
approximately 10 miles from Hacienda Drive in Pleasanton to
Greenville Road in Livermore in the eastbound direction and
approximately 12 miles from Greenville Road to just before the
I-680 overpass in Dublin in the
westbound direction.
Under this contract, Quarterhill will upgrade I-580 Express
Lanes onto the same technology infrastructure that underlies the
I-680 Express Lanes operations. The project ensures compatibility
with recent system replacements at the Alameda CTC I-680 Express
Lane facilities, which implemented Quarterhill's riteSuite™ to
improve mobility and alleviate congestion along the corridor.
riteSuite is an updated family of cloud-based, end-to-end tolling
and mobility systems built on mainstream open-source platforms for
flexible deployment to support transportation growth throughout the
region.
The express lane consolidation focuses on streamlining
operational processes and applying consistent business rules across
Alameda CTC's operations. It also addresses the legacy system's
increasing operational exposures and maintenance risks by updating
technical equipment, including sign upgrades to accommodate changes
to road segments, and decommissioning and replacing outdated
roadside equipment. With this project, Quarterhill is positioned as
Alameda CTC's sole Express Lane Electronic Toll Collection System
provider until 2032, with potential extensions until 2036,
emphasizing a long-term commitment to enhancing Alameda County's
transportation infrastructure.
"We are thrilled to deepen our partnership with the Alameda CTC
through this significant upgrade of the Express Lanes," said
Chuck Myers, CEO of Quarterhill.
"This upgrade project not only demonstrates Quarterhill's
commitment to innovation but also solidifies our position as
Alameda CTC's unified provider for electronic tolling solutions.
This initiative will streamline operations, ensure uniformity in
the application of business rules across Alameda CTC's network, and
provide greater maintenance efficiency. We believe this is a
pivotal step forward in enhancing customer experience and are proud
to play a crucial role in modernizing Alameda County's
transportation infrastructure."
About Quarterhill
Quarterhill is a leading provider of
tolling and enforcement solutions in the Intelligent Transportation
System (ITS) industry. Our goal is technology-driven global
leadership in ITS, via organic growth of our tolling and
enforcement businesses, and by continuing an acquisition-oriented
investment strategy that capitalizes on attractive growth
opportunities within ITS and its adjacent markets. Quarterhill is
listed on the TSX under the symbol QTRH and on the OTCQX Best
Market under the symbol QTRHF. For more information:
www.quarterhill.com.
Forward-looking Information
This news release contains
forward-looking information and forward-looking statements within
the meaning of applicable Canadian securities laws (collectively,
"forward-looking statements"). Such forward-looking statements
relate to future events, conditions or future financial performance
of Quarterhill based on future economic conditions and courses of
action. All statements other than statements of historical fact
may be forward-looking statements. Such forward-looking statements
are often, but not always, identified by the use of any words such
as "seek", "anticipate", "budget", "plan", "goal", "expect" and
similar expressions.
Forward-looking statements involve known and unknown risks,
assumptions, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements. Material risk factors that could
cause actual results to differ materially from the forward-looking
statements contained in this news release include, among others,
demand for Quarterhill's products and services; general economic
and market conditions; competition; risks relating to technological
advances and cyber-security; and other risks set forth in the
Company's most recent annual information form available on SEDAR+
at www.sedarplus.ca. The Company believes the expectations
reflected in the forward-looking statements are reasonable, but no
assurance can be given that these expectations will prove to be
correct and such forward-looking statements included in this news
release should not be unduly relied upon. Material factors and
assumptions used to develop the forward-looking statements
contained in this news release include, among others: Quarterhill's
ability to execute on its business plan; demand for Quarterhill's
products and services; operating assumptions; and financial
projections and cost estimates. Quarterhill has no intention, and
undertakes no obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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SOURCE Quarterhill Inc.