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of Purchase ordering it is. b Ccompany’s Advanced AI video solutions
Rehovot, Israel, Dec. 27, 2022 (GLOBE NEWSWIRE) — Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech” or the “Company”), a B2B provider of intelligent video transmission technology with AI acceleration for edge platforms, today announced a major milestone with the receipt of a $1.1 million purchase order for its Jupiter AI platform derivative product, One Front. A client of an Israeli defense company, an existing client of the company.
Based on the Jupiter AI derivative platform, an advanced and multi-stream codec, the order received for the company’s new product Jade is the result of a tight and efficient integration between Maris-Tech Jupiter-Nano and Hylo Hylo-8. ™ AI Accelerator up to 26 Tera Operations Per Second (TOPS). This integration provides an end-to-end hardware and software solution for remote platforms, dubbed “Maritime’s Edge,” enabling video streaming, capture, rendering and AI at the edge.
“We are proud to receive this purchase order from a respected Israeli defense company that has been working with us for a number of years. This is the largest purchase order the company has ever received.” “Jupiter AI is a powerful and reliable platform, and we are confident it will deliver exceptional results for our customers. We are excited to see the impact it will have on their business and the opportunities to work together in the future,” said Israel Barr, CEO of Mariris Tech.
“Maris-Tech is committed to providing and delivering high-quality Edge AI video streaming solutions to its customers and looks forward to future growth and success,” Barr added.
According to Allied Market Research, the video analytics market was It is expected to reach $21.7 billion by 2027, a growth rate of 22.7% compounded annual growth rate (CAGR) from 2020 to 2027, driven by the lightning-fast adoption of AI technologies, the popularity of autonomous platforms, and the need for edge computing to process the vast amounts of data generated instantly from these platforms.
About Maris-Tech Ltd.
Maris-Tech is a B2B intelligent video transmission technology provider founded by veterans of the Israeli technology sector with extensive electrical engineering and imaging experience. Our products are designed to meet the growing demands of commercial and tactical applications, providing 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/.
Disclaimer of Forward-Looking Statements
This press release port” created by those classes. Forward-looking statements that are based on certain assumptions and describe our future plans, strategies and expectations may generally be identified by the use of forward-looking words such as “believe,” “expect,” “may,” “should.” ” “may,” “intend,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other similar words. For example, we are using forward-looking statements when discussing a purchase order from a major Israeli defense company, the potential impact of the Jupiter AI platform on our customers’ operations, and future opportunities for collaboration. Forward-looking statements are not historical facts or assurances of future performance. Rather, they are based solely on our current beliefs, expectations and estimates regarding the future plans and strategies of our business, forecasts, expected events and trends, economic 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 beyond our control. Our actual results and financial condition may differ materially from those expressed in forward-looking statements. Therefore, you should not place undue reliance on these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those expressed in forward-looking statements include, but are not limited to: our ability to successfully market our products and services, including in the United States; Customer acceptance of our products and services; our continued ability to pay operating expenses and meet demand for our products and services; the extent and nature of competition from other security and telecom products and services; the effects of changes in the cyber security and telecom markets; Ability to successfully develop new products and services; our success in establishing and maintaining cooperative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and other risks and uncertainties on Form 20-F for the year ended December 31, 2021, with the SEC and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, whether as a result of new information, future developments or otherwise that may be made from time to time.
Investor Relations:
Michal Efrati,
Adi and Michal PR-IR
Investor Relations, Israel
+ 972-72-2424022
ir@maris-tech.com
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