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Tag: Duos Technologies

  • Strategic Announcement Boosts Duos Technologies (DUOT) Shares

    Strategic Announcement Boosts Duos Technologies (DUOT) Shares

    Duos Technologies Group, Inc. (NASDAQ: DUOT) experienced a notable rise in its stock value following the announcement of a pivotal agreement. As of the most recent check, DUOT shares climbed 20.63% to $5.55, reflecting investor confidence in the company’s latest developments.

    Strategic Asset Management Agreement with Fortress

    Duos Technologies’ subsidiary, Duos Energy Corporation, signed a two-year Asset Management Agreement (AMA) with affiliates of Fortress Investment Group. The agreement involves managing and deploying a fleet of mobile gas turbines and associated equipment with a combined generation capacity of 850 megawatts.

    These assets, acquired by Fortress from APR Energy, will be overseen by Duos to support immediate-demand power projects, including partnerships with U.S.-based data center developers and international ventures.

    Advancing Business Diversification and Profitability Goals

    This agreement marks a strategic step in diversifying Duos Technologies’ operations. The mobile turbines cater to the growing global demand for flexible, high-capacity power solutions.

    Unlike traditional utility power assets, which often face lengthy manufacturing lead times, these turbines can be deployed within weeks, providing immediate support for behind-the-meter (BTM) power needs. The contract, valued at an estimated $42 million over two years, aligns with the company’s broader strategy to achieve profitability by FY2025.

    Formation of Duos Energy Corporation

    In response to surging demand for power solutions, DUOT recently established Duos Energy Corporation. This move capitalizes on synergies between power generation and the rapidly growing data center industry. The initiative is further bolstered by Duos’ partnership with Fortress to deploy APR Energy assets.

    Experienced Leadership Driving Innovation

    Under CEO Chuck Ferry’s leadership, Duos Technologies has assembled a senior team with over a century of combined experience in power project management. This expertise includes installing and operating more than 1GW of fast-track power globally between 2016 and 2020.

    With increasing grid constraints and rising energy needs, Duos Technologies (DUOT) is well-positioned to deliver efficient, immediately deployable power solutions, reinforcing its commitment to innovation and operational excellence.

  • What Took Duos Technologies (DUOT) Stock Higher?

    Duos Technologies Group Inc. (NASDAQ: DUOT) witnessed a positive surge in its premarket trading, with shares up by 3.53% at $6.16.

    This gain came after DUOT stock experienced a decline of 9.02% during the regular session, closing at $5.95.

    However, recent developments have enabled the stock to recover partially from the losses incurred during regular trading.

    A significant step for Duos Technologies (DUOT) was the implementation of its first subscription services agreement with a passenger transit operator.

    This agreement allows Duos to provide access to its Railcar Inspection Portal (RIP) along with optional artificial intelligence (AI) detection models for essential inspection points.

    The initial agreement, valued at $300,000 and renewable annually, covers customer training, installation, and railcar data services for up to three existing Class 1 portals.

    Duos aims to offer the same near real-time inspection data and AI-based alerts that have been successfully developed and tested with its Class 1 railroad customers.

    DUOT is actively expanding its market presence in both transit and railcar ownership and leasing domains.

    The company’s focus on delivering automated near real-time inspection platforms at lower costs, yet with higher value, addresses the market need for efficient safety inspections.

    As more subscription customers come on board, Duos remains committed to providing updates on its progress.

    Additionally, Duos unveiled a new subscription service catering to the rail industry, targeting Class 1 Railroads, railcar owners/lessors, and other potential users.

    This move is accompanied by ongoing discussions with multiple railroads and stakeholders to expand its service offering.

    To further enhance rail safety, DUOT’s operating subsidiary, Duos Technologies, Inc., released a cutting-edge AI detection model for use with the Railcar Inspection Portal.

    This new algorithm focuses on end-of-car cushion inspection, a critical aspect that can influence derailments.

    The “Head of Cushioning Unit Condition” detection model identifies potential damages or missing cushion unit heads, which play a vital role between railcars, similar to shock absorbers.

    Detecting such issues early helps prevent derailments and associated line-of-road delays, as a damaged or missing cushion unit head can affect proper coupler travel.

    Duos Technologies (DUOT) continues to demonstrate its commitment to innovation and safety in the rail industry, providing valuable solutions through its subscription services and advanced AI detection models for crucial inspection points.

    As the company expands its customer base and offerings, it anticipates continued growth and success.