CALGARY, Alberta, Nov. 28, 2017 (GLOBE NEWSWIRE) -- Trakopolis IoT Corp. (TSXV:TRAK) ("Trakopolis" or the "Company") is pleased to provide an update on strong sales results of its recently launched Electronic Logging Device ("ELD") product.
The Company now has 16 customers including initial orders with new enterprise customers for its ELD offering bringing the number of active ELD subscriptions to more than 500 and the cumulative potential for 3000 additional subscriptions if fully implemented. The Company currently has more than 10 active pilot projects which represent several hundred additional potential subscribers from new customers.
Trakopolis' Chief Revenue Officer, Ted Duffield commented, "I am pleased with the expanding enterprise sales funnel for Trakopolis ELD. We are seeing continued demand for our ELD offering and with a looming Canadian mandate and US customers seeking a full fleet management solution with their ELD provider we are expecting Trakopolis ELD to be a major contributor to our 2018 growth."
Watch our ELD Solutions Video Here: https://www.youtube.com/watch?v=js7-2oaNNZs
Trakopolis' ELD Solutions
Another key driver of growth for the telematics industry overall is the incoming electronic logbook requirements. This is a result of the United States Federal Motor Carrier Safety Administration's new regulations aimed at improving the safety of commercial truck and bus drivers. These regulations require drivers to install and use electronic logging devices (moving away from paper records) to ensure the compliance with hours-of-service requirements. The new regulations will go into effect in December 2017 and will be implemented in phases over the following two years. Canada is expected to follow with similar regulations. Trakopolis is now able to offer its growing customer base a solution to address these regulations.
About Trakopolis
Trakopolis is a Software as a Service (SaaS) company with proprietary, cloud-based solutions for real-time tracking, data analysis and management of corporate assets such as equipment, devices, vehicles and personnel. The Company’s asset management platform works across a variety of networks and devices. Trakopolis has a diversified revenue stream from many verticals including oil and gas, forestry, transportation, construction, rentals, urban services, mining, government and others.
FOR FURTHER INFORMATION, PLEASE CONTACT
Brent Moore, President and Chief Executive Officer
Trakopolis IoT Corp.
Telephone: (403) 450-7854
Email: bmoore@trakopolis.com
Ron Shuttleworth
Oak Hill Advisors
Telephone: (416) 487-9050
Email: ron@oakhilladvisors.ca
Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the business and operations of Trakopolis; expected sales of ELD; legislative and regulatory changes; the market opportunity of ELD technology; full implementation of the ELD solution within new and existing Trakopolis customers and the number of subscribers resulting therefrom; and the success of existing ELD pilot projects and the number of subscribers resulting therefrom. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the market opportunity and commercial success of ELD; sales of ELD to existing and new customers; general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, including legislative developments with respect to ELD; success of ELD pilot projects; those additional risks set out in the Trakopolis' public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although Trakopolis believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Trakopolis disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.