$AITX AITX's Subsidiary Robotic Assistance Devices

$AITX AITX's Subsidiary Robotic Assistance Devices Receives Multiple AVA and TOM Order from Leading Global Logistics Company

https://www.globenewswire.com/news-release/20...mpany.html

Detroit, Michigan, June 14, 2022 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD) has received an order for 5 security robots from a top ranked global logistics company. The deal is valued in the low six figures plus monthly costs after a set period of time. Although not named due to confidentiality agreements, the Company indicated that the end-user, and existing client, is a global leader in supply chain management & third-party logistics.

The Company confirmed that the 4 AVA autonomous access control security robots and 1 TOM visitor management device are expected to be deployed in July at one of the client’s logistics centers. “We appreciate every client, but this one client means so much to us,” said Steve Reinharz, CEO of AITX. “They’re a Fortune 500 company that is continually overhauling how they handle their access control and property security. RAD has a huge deployment with this client, and we’re very grateful,” Reinharz continued.

“Supporting this great client as they roll RAD’s solutions out to more and more of their over 200 facilities has been a pleasure,” said Mark Folmer, President of RAD. “I think we’ll hit 50 deployed units with them soon and hopefully 100 in the not too distant future!”

The Company also confirmed that with the order for these 5 RAD devices brings the client’s total units deployed and/or on order to 39. “The logistics industry views our client as a market leader, and this client routinely selects RAD. It’s great to be associated with them,” Reinharz concluded.

The Company expects to receive permission from this client to share its name and RAD device use cases and applications in the near future.

According to a recent report by Allied Market Research, the global logistics automation industry was pegged at $49.70 billion in 2020, and is expected to reach $147.38 billion by 2030, growing at a CAGR of 11.9% from 2021 to 2030. The report mentions that "several logistics companies have started to invest in industry 4.0 technologies in order to deal with labor shortages issue, and to fulfill rising demand from e-commerce sector. Companies are adopting autonomous robots."

RAD’s parent company AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.

AVA (Autonomous Verified Access) is a compact and stanchion mountable unit that provides an edge-to-edge 180° field of vision with advanced access control over gates and other controlled points of entry. AVA takes full advantage of the RAD Software Suite providing an ideal solution for logistics and distribution centers, storage yards, parking structures and lots, corporate campuses; anywhere that increased visibility is needed at a fraction of the cost. At ISC West in late March, AVA was named a winner of the 2022 SIA New Products and Solutions Awards in the category of Access Control Software, Hardware, Devices and Peripherals.