Duos Granted Comprehensive Patent for Railcar Scanning
May 02 2024 - 8:00AM
Duos Technologies Group, Inc. (“Duos” or the
“Company”) (Nasdaq: DUOT) through its operating subsidiary Duos
Technologies, Inc. a provider of Machine Vision and Artificial
Intelligence (“AI”) to analyze fast moving freight, passenger and
transit trains and trucks, today proudly announces the granting of
another patent for its revolutionary railcar inspection technology.
Titled "Device to Capture High Resolution Images of a Train as it
Passes Through an Inspection Portal," this patent confirms Duos'
methodology and the supporting technology as the standard for
wayside detection, transforming railcar inspection processes
through innovative state-of-the-art engineering and AI.
As the inventor of the technology and the
process for implementation, Duos’ latest patent for a comprehensive
wayside detection system gives railcar operators and owners an
efficient, high function alternative to manual inspection. In some
cases, rail operators have been able to use the Duos automated
inspection technologies covered by this patent, to obtain waivers,
eliminating certain Federal Railroad Administration (“FRA”)
mandated inspections. Duos developed the concept more than 12 years
ago and has been constantly refining and upgrading the system. With
the granting of this patent, Duos now has 10 patents covering all
aspects of automated visual inspection of railcars and has a
further six pending for visualization of moving objects.
A recent article, sponsored by Dell
Technologies, in Forbes magazine (“AI at the Edge: The New Vanguard
of Railway Innovation”) discusses the Duos RIP and highlights how
“AI is transforming the railway industry, making it more efficient
and safer, and showing how this historic industry is modernizing
while holding on to its roots.”
The newly issued patent discusses the
methodology and related technology, detailing the advanced
engineering from Duos, sophisticated lighting systems, and
state-of-the-art sensors to capture high-resolution images of
trains as they traverse Duos' Railcar Inspection Portal (RIP®).
With proprietary line scan camera technology ensuring precise image
capture, anomalies or defects on railcars can be accurately
detected with unprecedented accuracy.
"Duos’ latest patent marks a significant
milestone in our ongoing mission to revolutionize railcar
inspection processes," commented Chuck Ferry, CEO of Duos. "In
development for many years, this technology is in productive use in
13 locations across the US, Canada and Mexico, with an additional
three locations expected within nine months. The full system
covered by this patent delivers value by identifying even the most
minor anomalies or defects according to AAR and FRA Rules and
Regulations, thereby helping to facilitate the safety and
reliability of rail transportation networks."
The combination of the RIP, AI and associated
Edge Data Centers provides a comprehensive solution to the rail
operators. The Company is also expanding its target market by
offering bespoke solutions such as subscriptions for customized
data, specific industry applications outside of traditional rail
operations and high-speed edge data processing. The underlying
technology is developed and supported “in-house” using AI and rail
industry experts. This patent confirms the integrated approach
giving Duos a significant advantage in terms of custom-built
implementations and speed of results delivery versus a home-grown
system using third party developers.
Duos was recently granted a rail safety AI
patent incorporating supervised machine learning. This combined
with the recently awarded patent covers an integrated set of
technology that offers rail operators a completely integrated
railcar inspection system designed to detect defects and prevent
costly derailments.
To stay up to date on the Company's most recent
developments or to learn more about the Duos story and its
revolutionary technology platforms, be sure to follow here or sign
up for email alerts here. For more information please contact
DUOT@duostech.com or visit the Company's website and social media
channels: Website, LinkedIn, Twitter.
About Duos Technologies Group,
Inc.
Duos Technologies Group, Inc. (Nasdaq: DUOT),
based in Jacksonville, Florida, 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 cutting edge solutions that automate the
mechanical and security inspection of fast-moving trains, trucks
and automobiles through a broad range of proprietary hardware,
software, information technology and artificial intelligence. For
more information, visit www.duostech.com.
Forward- Looking StatementsThis
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/188774db-3888-4abd-b5f7-1ccd9109581c
Contacts
Duos Corporate
Fei Kwong, Director, Corporate Communications
Duos Technologies Group, Inc. (Nasdaq: DUOT)
904-652-1625
fk@duostech.com
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