Patriot One Technologies Inc. (PAT:TSX; PTOTF:OTCQX) announced in a news release that its subsidiary, Xtract Technologies, won a CA$975,000 contract from Canada's Department of National Defense (CAF) through the Department of Public Works and Government Services.
Xtract is to design, develop and deploy advanced machine learning models and proprietary data sets then integrate those with advanced visualization hardware to improve situational awareness for the Canadian Armed Forces (CAF) and security personnel. Xtract has already begun tackling the project.
"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," Patriot One CEO Martin Cronin said in the release.
"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 we look forward to delivering a high-performing solution that we hope will augment our military personnel in their service to our country," Cronin stated.
This contract comes on the heels of Xtract completing other related work for the CAF. That included developing technological solutions that allow soldiers to detect, recognize and identify persons or objects in a physical environment and/or to track identified persons and objects using seamless information sharing over a network.
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. 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: Patriot One Technologies. 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.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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 Patriot One Technologies, a company mentioned in this article.
