Proactive Investors - Run By Investors For Investors

Duos Technologies wins another key contract from Canadian National Railway

Duos specializes in train inspections; its technology takes detailed, images of rail cars traveling at great speeds in real time
freight car trains
With its new contract, Canadian National will boast seven Duos rail inspection portals set up along its North American rail network

Duos Technologies Inc (OTCQB:DUOT) has won a second key contract from Canadian National Railway (NYSE:CNI) for its rail-inspection technology.

The award follows another multi-million dollar contract with Canadian National announced last May. This new deal for an undisclosed amount includes the installation of three additional rail-inspection portals which will be installed for the Canadian freight railway operator at two US locations and one in Canada. 

Duos specializes in rail train inspections that rely on Duos’ proprietary rip technology and use an automated process which can be conducted while a train is in motion. Duos’s technology takes detailed, real-time, full-picture images of rail cars traveling at great speeds.

READ: Duos Technologies wins multi-million dollar contract with Canadian National Railway

When its new systems are online and operational, Canadian National will boast seven Duos rail inspection portals set up along its North American rail network.

“With these new deployments, CN will be able to more effectively track all rolling stock passing through its various inspection points and with the added assurance that our inspection portals are keeping both their people and their goods safe,” said Noel Heiks, president and chief operating officer of Duos Technologies.

“Our rip® technology not only substantially improves efficiency and accuracy of the mechanical inspection process, but it also significantly improves safety for inspection teams, which is of paramount importance in today’s global rail industry,” added Heiks.

BIG PICTURE: Duos Technologies wants to put the railroad industry on the fast track

As part of its initial contract, Canadian National acquired four rail inspection portals and the use of Duos’ thermal undercarriage inspection system, which were installed in the Winnipeg, Manitoba area. The systems can withstand extreme cold and train speeds of up to 70 mph.

Duos shares held steady to finish trading at $0.50 on Wednesday.

Contact Ellen Kelleher at [email protected]

View full DUOT profile View Profile

Duos Technologies Group, Inc Timeline

Related Articles

Person watching TV on a smartphone
September 30 2018
"The business model is proving solid and with a higher percentage of revenues coming from recurrent subscriber-based licence fees, we are steadily reaching the point of profitability," said chief executive, Jose Luis Vazquez.
Data stream
November 28 2018
The firm recently reported wider margins and a narrowed loss in its first half, with chairman John O'Hara saying the company was expecting to enter profitability in the full 12 months
Cloudbuy's online purchasing portal
April 18 2018
"We remain convinced that we have a unique product and a great partner in NHS Shared Business Services to maximise the roll-out of PHB's and Integrated Commissioning across Health and Social Care," the company said.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use