Oct 11, 2023 | Source: Quarterhill Inc.
TORONTO, Oct. 11, 2023 /PRNewswire/ – Quarterhill Inc. (“Quarterhill” or the “Company”) (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (“ITS”) industry, announces that its wholly-owned subsidiary, Electronic Transaction Consultants (“ETC”), has launched its new toll collection system with the Central Texas Regional Mobility Authority (“CTRMA”) on State Highway 71 (“SH 71”) in Austin, Texas.
The 71 Toll Lane on SH 71 is a major traffic corridor connecting drivers to Austin-Bergstrom International Airport, the city of Bastrop, and points beyond. ETC has introduced a state-of-the-art toll collection system to enhance the toll experience along a bustling four-mile segment of SH 71. This upgraded toll system on SH 71 provides a seamless and dependable bypass route for through traffic, ensuring smoother journeys for all, especially during peak hour congestion. The same number of non-tolled travel lanes that were in place before the project began, remain available to drivers.
This project is the first of six existing CTRMA toll facilities that will see ETC’s state-of-the art toll collection system deployed in the Austin area. For these projects, ETC is deploying its riteSuite™, a comprehensive suite of roadside equipment, technology, and support solutions.
riteSuite brings intelligence and efficiency to the lane. The onsite roadside integration of equipment gives CTRMA the ability to track a vehicle as it goes through a lane, identify its classification, read its transponder and license plate, assign it a price, and then alert the back office for processing and billing. A suite of analytics, reporting, and dashboard tools helps to identify, track, and respond to issues as they happen and to monitor trends over any time period. System uptime and accuracy of vehicle information are key metrics on which ETC is evaluated,
“We are always exploring new and price-reliable technologies to help better serve our customers. We’ve found a partner in ETC whose goals align with our own. Together, we are proud to be part of the next-generation tolling system, envisioned, developed, and implemented for drivers in Central Texas,” said Greg Mack, Director of IT at the Mobility Authority. “We look forward to the ongoing partnership and the road that lies ahead.”
“We are committed to providing Austin-area drivers with the highest level of service and convenience and to helping CTRMA achieve its goals of improving mobility and traffic safety for the communities they serve,” said Kevin Holbert, President of ETC. “We look forward to continuing to expand our relationship with CTRMA with the existing and new projects CTRMA has coming up in Central Texas.”
Chuck Myers, CEO of Quarterhill, added: “We are pleased to go live on SH 71, the first of our projects with CTRMA and the second toll project launch for Quarterhill in the past month. Transitioning our ongoing tolling projects from implementation to the operations phase is important for Quarterhill as we work to expand our presence in the US tolling market and drive top-line and margin growth for the business.”
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics Inc. (IRD) platforms, 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, visit www.quarterhill.com.
About Electronic Transaction Consultants, LLC
ETC is a leading U.S. intelligent transportation systems provider, developing and delivering best in class solutions for tolling, congestion management, urban mobility, and multimodal transportation needs. ETC’s passionate and innovative team has been driving the future of mobility since 1999, with several industry firsts, including all electronic tolling (AET), dynamic pricing, agency interoperability, hosted mobility solutions and machine learning.
For over two decades, ETC has delivered sophisticated solutions to many of the U.S.’s largest toll authorities, including state-wide programs, county networks and tolling-specific authorities. ETC’s solutions process over two billion transactions annually totaling over $3 billion in revenues for our customers, incorporating the latest in evergreen open-source and SaaS technologies and Big Data architecture through our innovative riteSuite™ products.
About the Central Texas Regional Mobility Authority
The Central Texas Regional Mobility Authority is a local, independent government agency created in 2002 to develop, deliver, operate, and maintain high-quality roadways and related transportation solutions. The Mobility Authority operates 183A Toll, 290 Toll, the 71 Toll Lane, the MoPac Express Lane, the 45SW Toll Road, and the 183 Toll Road. The agency is also constructing the Barton Skyway Ramp Relief, 183A Phase III, 183 North Mobility Projects. For more information about the Mobility Authority, visit www.MobilityAuthority.com.
This news release contains forward-looking statements regarding Quarterhill, its operating subsidiaries and their respective businesses. Forward-looking statements are based on estimates and assumptions made by Quarterhill in light of its experience and its perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that Quarterhill believes are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Quarterhill, which include, without limitation, the risks described in Quarterhill’s March 22, 2023 annual information form for the year ended December 31, 2022 (the “AIF”). In addition, readers are also urged to review the additional risk factors disclosed in our Management’s Discussion and Analysis for the three and six months ended June 30, 2023 filed on www.sedarplus.ca. Quarterhill recommends that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of Quarterhill’s forward-looking statements. 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.
SOURCE Quarterhill Inc.