The company received an initial purchase order of $200,000 per unit.
Rihovot, Israel, September 21, 2022 (GLOBE NEWSWIRE) — Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech” or the “Company”), a B2B provider of intelligent video transmission technology, today announced that it has entered into an agreement with a major Israeli defense company for a purchase order of Maris up to $500,000. -Tech’s Opal platform, which is based on the advanced Jupiter AI platform. Under this agreement, the customer has placed a purchase order for $200,000 in units and Maris-Tech expects additional orders in the fourth quarter of 2022.
This is the company’s second order from the defense company, which previously announced a $300,000 order.
Maris Tech CEO Israel Bar said, “For the second time, we have received a vote of confidence from our customers, which has resulted in new orders. We continue to see high-quality products from international companies.” “We recently launched our flagship product, Jupiter AI, which provides our customers with unique capabilities based on their individual needs. We believe Jupiter AI has the potential to become an important component of surveillance products and civilian applications.”
The Jupiter-I platform is a tight and efficient integration between the Maris-Tech Jupiter-Nano and Hylo Hylo-8 with up to 26 TOPS (Typical-Operation-Per-Second) AI accelerators, providing the ultimate hardware and software solution for video streaming to remote platforms; On the edge of capture, description and AI, it’s been dubbed “Maris Edge”. The Jupiter AI platform provides real-time intelligence collection and analytics-based situational awareness capabilities from multiple sources and combines Maris-Tech’s expertise in video processing and artificial intelligence.
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 units. 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, when discussing an agreement and purchase orders with a major Israeli defense company, we are using or expecting forward-looking statements based on the agreement and our belief that it represents the customer’s vote of confidence. We are and expect to be a leading global company for our products and Jupiter’s AI platform, including Maris Edge’s, which has the potential to become an important component of surveillance products and civilian applications. 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:
Michael Efrati,
Adi and Michal PR-IR
Investor Relations, Israel
+972-(0)52-3044404
michal@efraty.com
