Petards Regulatory News (PEG)

30 January 2024

PETARDS GROUP PLC

 ("Petards" or the "Group")

Contract Win

Petards, the AIM quoted developer of advanced security and surveillance systems, announces that its subsidiary, QRO Solutions (QRO), has been recently awarded an order worth £0.4 million for Artificial Intelligence (AI) enabled ANPR cameras.

The order is the first for the supply and installation of QRO's newly developed Harrier AI ANPR cameras. The project forms part of a three year programme being undertaken by the end-user, with QRO having already secured and supplied other roadside ANPR equipment for the first year in 2023. This new order is expected to be fully delivered during 2024.

The cameras will be installed at several strategic highway locations in the UK allowing QRO the opportunity to showcase the Harrier AI nationally to existing and potential police force customers.

The Harrier AI camera was launched in December 2023 and is designed and built by QRO in the UK. It delivers real-time analytics ANPR software-enabled data processing and is powered by machine learning algorithms, making it adaptive and responsive to ever-changing road conditions.

Raschid Abdullah, Chairman of Petards Group plc said:

"We are delighted that Harrier AI cameras have been selected by our customer for this UK highways application demonstrating their confidence in QRO's technology, high levels of customer service and support. This win reinforces QRO's market position both as an innovator and a leading supplier of ANPR technologies in the UK."

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Contacts: