Energetika, an international firm based in Mexico City that provides intelligent lighting solutions, is collaborating with VSBLTY Groupe Technologies Corp. (VSBY:CSE; VSBGF:OTC; 5VS:FRA), incorporating VSBLTY's crowd analytics and facial recognition technology into its systems to provide enhanced security. The companies recently signed a three-year contract valued at US$10 million.
The systems are first rolling out in Mexico City, where deployment has begun.
VSBLTY cofounder and CEO Jay Hutton noted that VSBLTY is providing "advanced analytics as well as public safety applications including tracking of persons of interest, weapon detection and vehicle and crowd analytics using the power of machine learning and computer vision."
Energetika, a privately held firm, has been in existence for about 10 years. Experts on smart LED lighting, the firm began to develop software for energy management. "We created an integrated solution for companies to monitor and control their energy, and we work with large companies such as Walmart and Coca Cola," Energetika CEO Rodrigo Calderon told Streetwise Reports. "We also work in the public sector, with municipalities, and are involved with the new approaches in the Smart Cities initiative, things like connecting lights to a network and gathering information through sensors."
In Mexico, "people feel fearful because of violent crime, even though most people aren't victims of crime," Calderon explained. Each neighborhood security kit "consists of high definition cameras equipped with VSBLTY facial recognition and analytics, wireless alarms, motion sensors and panic buttons integrated with high LED facade light fixtures. This low cost system runs off local citizens' internet service and is accessible on their mobile devices in real time."
These kits are relatively inexpensive, costing about $700–$950, which includes the monthly fee for the first two years and $5 a month after that, and Energetika estimates it will install 20,000 to 40,000 kits next year. "We have begun phase one deployment of security kits covering up to 40,000 endpoints throughout five communities in Mexico City beginning in the boroughs of Miguel Hidalgo, Cuajimalpa, Benito Juarez and Cuauhtemoc," Calderon said.
"We decided to work with VSBLTY for several reasons," Calderon explained. "Of all the software we looked at, VSBLTY's has the best algorithm for facial recognition, it's accurate as well as low cost. And the company has the flexibility to work closely with us to develop the project, to customize it for our specific needs. We have worked hand in hand."
"We have worked closely with Energetika to develop a public safety network of cameras that cost effectively delivers quality facial recognition at a very cost-efficient price point," Hutton stated. The company's proprietary VSBLTY Vector™ product "can be used alone or in combination with lighting solutions and any type of digital signage to provide security by looking for 'persons of interest' or individuals carrying weapons with the intent to cause harm."
This program is "setting the standard for collaborative security where citizens, law enforcement and technology will work together to affect how a higher level of security is achieved," Hutton said. "We look forward to collaborating on future deployments that will provide the next generation of public safety applications including tracking of persons of interest, weapon detection, as well as vehicle and crowd analytics using the power of machine learning and computer vision."
Energetika plans on expanding sales outside Mexico. "With this unique security kit deployment model perfected, we have introduced this program to other Central and South American municipalities whose needs are equally compelling and where this cost-efficient solution can be installed in three million security cameras or more," Calderon said.
VSBLTY trades on the Canadian Securities Exchange under the ticker VSBY. The company has approximately 77 million shares outstanding, 94 million fully diluted, and insiders control 42 million shares.
The company recently closed a $4.085 million brokered convertible debenture private placement led by Echelon Wealth Partners. The 2-year unsecured debentures pay 10% interest and can be converted into units of the company at $0.35 per unit if converted within year one and at $0.60 per unit if converted in year two.[NLINSERT]
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of VSBLTY Groupe Technologies Corp., a company mentioned in this article.