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PIPS Technology™ announced as finalist in New York Transit Tech Lab Accelerator program

1185 Days ago

The program, of which only 6 finalists have been announced out of an application process of almost 100 companies shall enable MTA to embrace technology and build a culture of innovation by working with companies that are pioneers in mobility

SAN DIEGO, Feb. 25, 2019 (GLOBE NEWSWIRE) -- PIPS Technology™, a business division of Neology and a leading provider of Automatic Number/License Plate Recognition (ANPR/ALPR) solutions, is pleased to announce that it has been successful in gaining a place on the Metropolitan Transportation Authority (MTA) sponsored accelerator program designed at introducing new technology which improves transit services.  

The challenge, accepted by PIPS’ engineers, is to work with the MTA team to customize products and solutions which are used to help public buses move faster and more efficiently in bus lanes through the use of enhanced image analytics to detect, identify and classify vehicles which are illegally obstructing the bus lanes.

“Neology's PIPS Technology has been selected by MTA and private sector experts to participate in the Transit Tech Lab, a program to help modernize the largest public transportation agency in North America,” said Rachel Haot, Executive Director of the Transit Innovation Partnership. “During the eight-week accelerator the team will work with the MTA to assess how their solution can improve bus efficiency across New York City.”

PIPS Technology™ is a pioneer of detection innovation systems in more than 100 countries and this represents an important announcement for New York as it looks to become the center of innovation in the rapidly growing field of mobility technology, particularly as it relates to mass transit.

“Our innovations are already proven around the globe,” said Francisco Martinez de Velasco, CEO of Neology Inc, “We are proud to be able to show-case our existing capabilities to MTA whilst working closely with them to build on new ideas and solutions, showing tangible benefits to the mobility and transit in one of the busiest cities in the world.”

“The initial eight-week program, followed by the potential 1-year pilot provides a superb showcase of what could be possible to improve the journey time speed and reliability for New York buses, where in Manhattan the average speed is less than 6 mph.”

For more information visit: http://www.pipstechnology.com/  

About Neology:

Neology is a leading provider of integrated end-to-end solutions for the tolling, electronic vehicle registration (EVR) and public safety markets. The company is a pioneer and leader in the development of passive RFID technology owning some of the earliest and most significant intellectual property (IP) in the industry. For more information, visit www.neology.net

Forward-Looking Statements:

All forward-looking statements contained in this press release are based on assumptions, planning, and forecasts at the time of publication of this press release. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions, and other factors may cause the actual results to be materially different from the assumptions, planning, and forecasts at the time of publication of this press release. Therefore, Neology does not assume any responsibility relating to forward-looking statements contained in this press release. Furthermore, Neology does not assume any obligation to update the forward-looking statements contained in this press release.

Media Contact:

Mark McFarlin
Vice President International Sales
Phone: 858-391-0260 x1126

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b6a4c4d3-62c3-4434-bc9c-e827872c6b5f

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