[ad_1]
A grant from the Israel Innovation Authority
Rihovot, Israel, Aug. 24, 2022 (GLOBE NEWSWIRE) — Maris-Tech Ltd. (Nasdaq: MTech) (“Maris-Tech” or the “Company”), a provider of B2B intelligent video transmission technology, today announced that it has received a joint grant from Ben Gurion University, Beer Sheva, Israel. Creative authority.
The aim of the joint project is to develop an AI (Artificial Intelligence) and ML (Machine Learning) based system to identify, diagnose and predict defects in drones by adapting and integrating a detection and prediction model developed by Ben Gurion University. Maris-Tech existing systems.
“Having received this grant from a leading university like Ben Gurion, and we consider this grant as a vote of confidence in our technology. After evaluating the project, the combination of both technologies and our ability to provide advanced products, our company aims to collaborate with major organizations and use the benefits of our products in additional sectors and systems. This program is another layer for the company to provide edge computing solutions on drones, said Israel Barr, CEO of Maris-Tech.
The total approved budget for the joint project’s first year is approximately $400,000. The grant represents 66 percent of the total budget for the project. The entire project is planned for two years with a high budget after the first year. In the second year, the Israel Innovation Authority will increase the budget if the company meets certain milestones. The Israel Innovation Authority will not receive any future royalties from the company’s revenue.
This program was launched and is led by the company’s CTO, Mr. Magenia Roshansky.
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 generally include words such as “believe,” “expect,” “may,” “should,” “could,” “intend,” “intend,” “plan,” “goal”, “estimate”, “predict” or other similar words. For example, we are using forward-looking statements when discussing the future development of the joint project, the company’s desire to work with major organizations and provide computer solutions. 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 our business’ future plans and strategies, 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: 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 described in the Company’s Form 20-F filing with the SEC and in 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
[ad_2]
Source link
