Maris-Tech Receives $625,000 Follow-On Order for its Opal Platform from a Leading Defense Company
October 31 2023 - 8:30AM
Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the
“Company”), a B2B provider of artificial intelligence (“AI”)
accelerated video solutions for edge platforms, today
announced a $625,000 repeat order for units of the Company’s
Opal platform from a leading Israeli defense company.
The advanced Opal platform is based on Maris-Tech’s flagship
Jupiter AI platform, a high-end multiple stream video platform with
AI acceleration that delivers real-time intelligence gathering and
analytics.
Maris-Tech has already delivered previously placed purchase
order in the amount of $500,000 for the Opal platform.
Maris-Tech expects to deliver the units pursuant to this
purchase order during the years 2023 and 2024.
“Repeat orders are an excellent measure and validation of the
unique capabilities and successful application of our innovative
video recording and AI acceleration systems, highlighting the
regard and confidence of our valued customers. We continue to
expand and establish Maris-Tech’s position as a leader of
technological innovation in the field as we develop advanced
AI-based intelligence-gathering solutions for remote platforms that
meet our customers’ needs,” said Israel Bar, CEO of Maris-Tech.
About Maris-Tech Ltd.
Maris-Tech is a B2B provider of video streaming and AI
technology, founded by veterans of the Israel technology sector
with extensive electrical engineering and imaging experience. Our
products are designed to meet the growing demands of commercial and
tactical applications, delivering high-performance, compact, low
power and low latency solutions to companies worldwide, including
leading electro-optical payload, RF datalink and unmanned platform
manufacturers as well as defense, homeland security, and
communication companies. For more information, visit
https://www.maris-tech.com.
Forward-Looking Statement Disclaimer
This press release contains "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, that are intended to be covered by the "safe harbor"
created by those sections. Forward-looking statements, which are
based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as "believe," "expect"," "may",
"should," "could," "seek, " "intend, " "plan, " "goal, " "estimate,
" "anticipate" or other comparable terms. For example, we are using
forward-looking statements when we are discussing our relationship
with our customers; the quality, capabilities, performance and
application of our technology, products and solutions; the timing
for the delivery of the order; our position in the defense market;
and expansion and establishment of our positions as a leader in the
field of AI-based intelligence-gathering solutions for remote
platforms. Forward-looking statements are neither historical facts
nor assurances of future performance. Instead, they are based only
on our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our ability to successfully
market our products and services, including in the United States;
the acceptance of our products and services by customers; our
continued ability to pay operating costs and ability to meet demand
for our products and services; the amount and nature of competition
from other security and telecom products and services; the effects
of changes in the cybersecurity and telecom markets; our ability to
successfully develop new products and services; our success
establishing and maintaining collaborative, strategic alliance
agreements, licensing and supplier arrangements; our ability to
comply with applicable regulations; and the other risks and
uncertainties described in the Annual Report on Form 20-F for the
year ended December 31, 2022, filed with the SEC on March 6, 2023,
and our other filings with the SEC. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Investor Relations:
Nir Bussy, CFO
Tel: +972-72-2424022
Nir@maris-tech.com
Maris Tech (NASDAQ:MTEKW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Maris Tech (NASDAQ:MTEKW)
Historical Stock Chart
From Jul 2023 to Jul 2024