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SALT LAKE CITY, July 09, 2019 (GLOBE NEWSWIRE) -- Quest Solution, Inc. (OTCQB: QUES) (“Quest” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, announced that it has received its first order for a yard management application using its AI-based solution. The order is from one of the world’s largest food companies. The new system integrates automatic access control and truck identification with the customer’s logistics management center.
This breakthrough project is Quest’s first stand-alone implementation of its AI–Machine Vision technology for the multi-billion dollar supply chain industry. The “Visual Cortex™” platform transforms the logistics yard into an extension of the warehouse and uses machine-vision technology to monitor the location of trucks, trailers and containers, enabling customers to plan, execute, track, and audit loads according to their needs and priorities.
Shai Lustgarten, CEO of Quest, stated: “We are very excited about this order. As part of our HTS acquisition strategy we were looking to quickly initiate a program to implement our AI-technology for use in the supply chain industry. Many of our customers are Fortune 500 companies and in addition to providing them with powerful computers and data collection equipment, we believe that our AI technology can play a critical and innovative role in yard and warehouse management, logistics centers, and in automating and improving the speed and accuracy of the whole supply chain process. We’re energized by this opportunity and believe it creates a powerful engine for future growth and profitability.”
Quest acquired HTS Image Processing, a pioneer in Image Processing and Pattern recognition solutions based on Machine Learning and Artificial Intelligence algorithms, in October 2018. The AI-based systems are currently installed in various locations in the U.S. and worldwide, including, among others:
Mr. Lustgarten concluded: “We have generated strong momentum since the AI acquisition as demonstrated by our solid first quarter performance and we look forward to continuing our progress in offering proprietary Machine Vision solutions to our customer base. We believe that our AI-technology solutions provide tremendous added value to our customers, and represent a significant opportunity for us to drive revenue growth and higher margins”
About Quest Solution, Inc.
Quest Solution’s HTS Image Processing subsidiary is a leading provider of computer vision image processing-based solutions using patented and proprietary AI technology to provide real-time surveillance and monitoring for homeland security, traffic & parking management, law enforcement and access control applications as well as supply chain management.
Rated in the Top 1% of global solution providers, Quest specializes in the design, deployment and management of enterprise mobility solutions including Automatic Identification and Data Capture (AIDC), Mobile Cloud Analytics, RFID (Radio Frequency Identification), and proprietary Mobility software. Our mobility products and services offering is designed to identify, track, trace, share and connect data to enterprise systems such as CRM or ERP solutions. Our customers are leading Fortune 500 companies from several sectors including manufacturing, retail, distribution, food / beverage, transportation and logistics, health care and chemicals/gas/ oil.
Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Quest Solution, Inc.’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, risks related to the sale of Quest Solution Canada Inc. to Viascan Group Inc. and other information that may be detailed from time-to-time in Quest Solution Inc.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting Quest Solution, Inc. please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov. Quest Solution, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.
John Nesbett/Jen Belodeau
IMS Investor Relations