Gatekeeper Comments on $108 Billion for Transit In $1.2 Trillion Infrastructure Investment and Jobs Act

Gatekeeper Comments on $108 Billion for Transit In $1.2 Trillion Infrastructure Investment and Jobs Act

 

Abbotsford, BC – November 16, 2021 – Gatekeeper Systems Inc. (‘Gatekeeper’ or the ‘Company’) (TSX-V: GSI) (OTC: GKPRF) (FSE: 1GK) a video and data solutions provider for public transportation and smart cities, applauds the signing of the $1.2 trillion Bipartisan Infrastructure Deal (BID), and comments on the Company’s transit initiative.

Following the signing of the BID, the U.S. Department of Transportation’s Federal Transit Administration announced key priorities and historic funding amounts for public transportation. The BID authorizes up to $108 billion, including $91 billion in guaranteed funding for public transportation – the most significant federal investment in transit in the nation’s history. It will boost transit funding for communities all over the country by an average of 30% – helping communities address maintenance backlogs, modernize and expand. The new funding provided under the bill will help transit agencies reduce the current maintenance backlog by 15% and replace more than 500 aging subway, light rail, and commuter rail cars. It will further modernize the nation’s transit fleet by replacing more than 10,000 fossil-fuel powered transit vehicles with cleaner electric or low-emission transit vehicles. Key priorities for public transportation under the BID include safety programs, modernization of transit infrastructure, transit vehicle replacement to greener vehicles, and equity investment to improve transit accessibility.

In 2018 the Company made a strategic decision to focus on the transit industry in addition to the school transportation industry. In the ensuing period, the Company made notable progress in transit which has resulted in over C$20 million in revenue, approximately C$19.5 million of which has been recognized up to August 31, 2021, and included the following announcements:

• April 2018 – C$1.7 million contract with SEPTA (the 6th largest transit authority in the U.S.);
• November 2018 – Contract with NFI Group to equip 335 diesel-electric hybrid transit buses;
• February 2019 – C$2 million contract with SEPTA;
• August 2019 – Contract to equip SEPTA paratransit buses;
• October 2019 – C$6.3 million contract to supply NTSB compliant digital video recorders on trains;
• October 2019 – C$11.8 million contract over 5 years for video services for SEPTA’s 3,000 transit vehicles;
• June 2020 – Contract for factory-installed video solutions by US-based transit bus manufacturer;
• November 2020 – Completion of C$6.3 million contract for NTSB compliant recorders on trains; and
• June 2021 – Launch of Automated Lane Enforcement (ALE) solution for transit bus lane violations.

 

“This $108 billion federal investment in transit is a once-in-a-generation opportunity for the industry, and Gatekeeper is well positioned as an established video and data solutions provider in the transit industry,” commented Doug Dyment, President and CEO. “Over the past three years, our transit solution offerings have resulted in contracts valued at more than C$20 million. In certain instances, our solutions are now being factory-installed on new transit buses. One of our flagship projects was providing NTSB compliant digital video recorders on the passenger trains of the 6th largest transit authority in the U.S. The NTSB continues to call on the transit industry to equip all passenger trains with video and event recording devices to improve safety. We have also been actively building new proprietary technology solutions that we believe will emerge as winning solutions for the transit industry. The most recent example being our recently launched Automatic Lane Enforcement solution which uses video analytics and AI to capture evidence and ticket vehicles that drive illegally in dedicated transit bus lanes. Our management team is very excited for the future of Gatekeeper and the new, potentially significant, opportunities in the transit industry.”

Gatekeeper’s Automated Lane Enforcement uses video analytics and Artificial Intelligence to identify instances in which vehicles are violating transit lane traffic laws, including specialized applications such as vehicles that partially obstruct the bus lane, vehicles in the bus lane that signal a legal right-hand turn but illegally continue to drive straight, and vehicles that pass a streetcar when passengers are boarding or deboarding. ALE records the video evidence, captures the vehicle license plate, and prepares the instance for review and ticketing using the Company’s proprietary Traffic Infraction Management System (TIMS) software.

 

About Gatekeeper Systems Inc.

Gatekeeper is a leading provider of intelligent video and data solutions designed to provide a safer transportation environment for children, passengers, and public safety personnel on multiple transportation modes. The Company uses AI, video analytics, thermal cameras, and mobile data collectors to inter-connect public transit assets as part of intelligent transportation systems in a Smart City ecosystem. The Company’s Platform-as-a-Service (PaaS) business model is an enabling transformation to a video and data solutions provider for intelligent transit and Smart Cities. www.gatekeeper-systems.com

Contact Information:

Douglas Dyment

President & CEO

ddyment@gatekeeper-systems.com

(604) 864-6187

 

Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management’s discussion and analysis for the quarter ended May 31, 2021. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements. Forward-looking statements are presented for the purpose of providing information about management’s current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.