- Quarterhill (TSX:QTRH), a transportation technology stock, announces a US$40 million contract to upgrade the Alameda County Transportation Commission’s I-580 express lanes in California
- The 17-month project will be followed by seven years of operations and maintenance, plus a potential four-year, US$15 million extension
- Quarterhill provides tolling and enforcement solutions in the intelligent transportation systems industry
- Quarterhill stock is down by 14.80 per cent year-over-year and by 5.65 per cent since 2020
Quarterhill (TSX:QTRH), a transportation technology stock, announces a US$40 million contract to upgrade the Alameda County Transportation Commission’s I-580 express lanes in California.
The company will make the upgrades over 17 months, followed by seven years of operations and maintenance, with the option for a four-year, US$15 million extension.
The I-580 express lanes run eastward for about 10 miles from Hacienda Drive in Pleasanton to Greenville Road in Livermore and about 12 miles westward from Greenville Road to just before the I-680 overpass in Dublin.
The project will align I-580 with the technology infrastructure underlying the I-680 express lanes, including Quarterhill’s riteSuite, a family of cloud-based tolling and mobility systems to minimize congestion. Other upgrades include new signs and the decommissioning and replacing of outdated roadside equipment.
Quarterhill is contracted as the Alameda County Transportation Commission’s only express lane electronic toll collection system provider until 2032.
Leadership insights
“We are thrilled to deepen our partnership with the Alameda County Transportation Commission through this significant upgrade of the express lanes,” Chuck Myers, Quarterhill’s chief executive officer, said in a statement. “This upgrade project not only demonstrates Quarterhill’s commitment to innovation but also solidifies our position as Alameda County Transportation Commission’s unified provider for electronic tolling solutions. This initiative will streamline operations, ensure uniformity in the application of business rules across the commission’s network and provide greater maintenance efficiency. We believe this is a pivotal step forward in enhancing customer experience and are proud to play a crucial role in modernizing Alameda County’s transportation infrastructure.”
About Quarterhill
Quarterhill provides tolling and enforcement solutions in the intelligent transportation systems industry.
Quarterhill stock (TSX:QTRH) last traded at C$1.67 per share. The stock is down by 14.80 per cent year-over-year and by 5.65 per cent since 2020.
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(Top photo of the I-580 express lanes: Alameda County Transportation Commission)
