Breaking #Defense #Stock News - Patriot One’s (TSX: $PAT.TO)
(OTCQX: $PTOTF) Xtract.ai Division Secures $975,000 Contract for Department
of National Defense
British Columbia-based #AI firm to work with Public Works and Government Services Canada
British Columbia-based #AI firm to work with Public Works and Government Services Canada
VANCOUVER, BC –
February 5, 2020 -- (Investorideas.com
Newswire, Homelanddefensestocks.com ) Xtract Technologies Inc.
(“Xtract.ai”), a subsidiary of Patriot One Technologies Inc. (TSX:
PAT) (OTCQX:
PTOTF) (FRANKFURT: 0PL), is pleased to announce it
has secured a $975,000CAD Contract with Canada’s Department of National Defense
through the Public Works and Government Services Canada Division.
The contract is for a project related to improving
situational awareness for the Canadian Armed Forces (“CAF”) and security
personnel using video analytics, artificial intelligence and augmented reality.
This project will continue previous work completed by Xtract.ai for the CAF to
develop technology solutions to augment the situational awareness of their
soldiers and address the following challenges:
·
detect, recognize, and identify persons or
objects of interest in a physical environment, and/or
·
track identified persons and objects of
interest using seamless information sharing across a decision network.
Work will proceed in multiple phases, including the
design, development and deployment of advanced machine learning models,
proprietary data sets and integration with advanced visualization hardware.
“We’re very excited to leverage the Xtract.ai team’s
expertise in video analytics, object detection and artificial intelligence with
the Canadian Department of National Defense,” expresses Martin Cronin, CEO of
Patriot One Technologies. “With the work
Xtract.ai has be doing with several clients, as well as on Patriot One’s
PATSCAN Multi-Sensor Covert Threat Detection Platform, the team brings
tremendous experience in video analytics and threat object detection and look
forward to delivering a high-performing solution that we hope will augment our
military personnel in their service to our country.”
For more details on the Public Work’s DND contract,
please visit: https://buyandsell.gc.ca/procurement-data/award-notice/PW-SV1-001-37327-001
The Xtract.ai team is already under way in the
project’s design and development phase, and will make announcements, as
required, on the progress of its efforts in achieving the goals of Canadian
Department of National Defense.
About
XTRACT TECHNOLOGIES INC - a subsidiary of Patriot One Technologies
Xtract.ai develops and commercializes
artificial intelligence, machine learning, deep neural networks and predictive
solutions utilizing advanced technology for public institutions and private
enterprise. The firm has an
award winning, highly skilled team that develops AI solutions to solve challenges across computer vision (CV),
natural language processing (NLP), anomaly detection, and time-series analysis
for applications ranging from security and defense to environmental solutions
and healthcare. For more information on building your AI solution, visit: xtract.ai
About
Patriot One Technologies Inc. (TSX:PAT) (OTCQX: PTOTF)
(FRA: 0PL):
Patriot Ones' mission is to deliver innovative threat
detection and counter-terrorism solutions for safer communities. Our PATSCAN™
Multi-Sensor Covert Threat Detection Platform provides a network of advanced
sensor technologies with powerful next generation AI/machine learning software.
The network can be covertly deployed from far perimeter to interiors across
multiple weapons-restricted facilities. The PATSCAN™ platform identifies and
reports threats wherever required; car park, building approach, employee &
public entryways and inside the facilities. Each solution in the platform
identifies weapons, related threats or disturbances for immediate security
response. Our motto Deter, Detect and Defend is based on the belief that
widespread use of the PATSCAN™ platform will act as an effective deterrent to
diminish the epidemic of active threats around the globe. For more information,
visit: www.patriot1tech.com
or follow us on Twitter
and Facebook.
For
further information, please contact:
Investor
Relations
John Martin, Patriot One Technologies
+1 (888) 728-1332
johnm@patriot1tech.com
John Martin, Patriot One Technologies
+1 (888) 728-1332
johnm@patriot1tech.com
Media
Contacts:
Scott Ledingham, Patriot One Technologies
+1-613-806-7135
scott@prmedianow.com
Scott Ledingham, Patriot One Technologies
+1-613-806-7135
scott@prmedianow.com
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