REHOVOT, Israel, March 31, 2022 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech”), a B2B provider of intelligent video transmission technology, today announced it received a purchase order from Goldtec Technologies Ltd. (“Goldtec”), a global leader in military-grade digital video recording solutions, to supply an advanced video recording and interrogation system technology to a leading defense Organization in the amount of approximately $68,000.
“We believe this purchase order, which was received before the completion of product development, demonstrates the high demand for this new and innovative solution based on our Neptune Pro product and Goldtec’s military digital video recording technologies,” said Israel Bar, CEO of Maris-Tech. “This is the first of what we believe will be many orders as we seek to scale the rollout of this technology.”
Maris-Tech is collaborating with military digital video recorders (“Military DVRs”), a business division of Goldtec to jointly develop the new state-of-the-art video technology, which is being designed for defense and security applications.
The new product will be based on Maris-Tech's Neptune Pro, an intelligent video surveillance solution, provides robust, reliable communication with high-quality video and audio capture, encoding, decoding, transcoding and display, forward error correction, raw data pre-processing, and low latency streaming over Ethernet. Neptune Pro platforms processing capabilities support a wide range of analytics features. Goldtec's Military DVRs, leverage the power of a full-function high-end digital video recorder with a compact profile and high-quality display.
The joint product will be marketed to defense and surveillance applications that seek to use advanced video display and digital recording systems in low latency.
About Maris-Tech Ltd.
Maris-Tech is a B2B provider of intelligent video transmission technology, founded by veterans of the Israel technology sector with extensive electrical engineering and imaging experience. Our products are designed to meet the growing demands of commercial and tactical applications, delivering high-performance, compact, low power and low latency solutions to companies worldwide, including leading electro-optical payload, RF datalink and unmanned platform manufacturers as well as defense, HLS, and communication companies. For more information, visit https://www.maris-tech.com/.
About Goldtec Technologies Ltd.
Goldtec Technologies Ltd. is an Israel-based manufacturer, agent, distributor and integrator of technological systems. Our subsidiaries include Goldtec Multimedia & Control Systems Ltd., Military DVRs and Thermal Beacon Ltd. The company was founded in 1989 and operates in five business fields:
Military & security, communication solutions, robotic & automation for logistic, energy and ground support equipment for airports. Goldtec does so in two complementary and integrated ways: Goldtec operates as an exclusive distributor of technological solutions and as a product manufacturer through her own companies and subcontractors throughout the world.
Between Goldtec Group's regular customers:
The Israel Defense Forces (IDF), NATO Armies, leading military industries and defense prime contractors from Israel and the world.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we are discussing the product to be developed in collaboration with Goldtec pursuant to the purchase order, the potential demand for the product, future purchase orders for the product once developed and the marketing of the product to defense and surveillance applications. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services, including in the United States; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in the Registration Statement on Form F-1, as amended, filed with the SEC related to our initial public offering and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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