News & Events zu Rekor Systems Inc (REKR)REKRRekor Systems Inc

Rekor Systems Terminates Two Long-Term Leases, Saving Over $2M

Rekor Systems announced it has terminated its two remaining long-term real estate leases, one in the United States and one in Israel. The terminations eliminate Rekor's ongoing rent obligations under the two agreements and are expected to deliver more than $2M in annualized savings. The company will use approximately $2.8M in cash to reduce $10M in outstanding lease obligations, and the related deposit, fixed assets, and right-of-use assets will be removed from the company's balance sheet in connection with the transaction.

Rekor Systems Calls for Responsible ALPR Standards

Rekor Systems called on technology providers, law enforcement agencies, lawmakers, civil-rights stakeholders, and standards organizations to consider a common, vendor-neutral framework for the responsible use of automated license plate recognition. Rekor believes the escalating conflict over ALPR is producing the worst possible outcome: communities are losing trust, law enforcement agencies risk losing an important public-safety tool, lawmakers are being pushed toward all-or-nothing choices, and responsible technology providers are being judged by the market's most controversial practices. Rekor proposes that the ALPR industry, public agencies, and policymakers evaluate three pillars as the foundation for a Responsible ALPR Standard. Under Pillar One, public-safety ALPR systems should generate real-time alerts only when a plate matches a clearly defined, legally authorized list. When a vehicle does not match an authorized list, its plate information should be immediately protected with strong cryptographic encryption or tokenization, using vendor-controlled keys and a segregated re-identification process. Re-identification of protected non-hotlist data should occur only when the technology provider receives and validates a lawful warrant or court order specifying the information sought. Under Pillar Two, identifiable records associated with a legitimate hotlist match should not all be retained for the same fixed period. Retention should be tied to lawful purpose, the severity of the underlying reason for the alert, investigatory relevance, evidentiary requirements, and clearly stated public policy. Under Pillar Three, ALPR decisions can lead to vehicle stops, arrests, prosecutions, civil claims, and courtroom evidence. Rekor believes responsible ALPR systems should cryptographically authenticate video at or as close as possible to the point of capture and permit independent validation later.

Rekor Systems Selected by SCDOT for $22M Contract

Rekor Systems announced it has been selected by the South Carolina Department of Transportation, or SCDOT, for a statewide contract with a seven-year term and an expected potential value in excess of $22M. The award is subject to customary final contract negotiations. Under the contract, Rekor will maintain, upgrade, and modernize SCDOT's statewide network of traffic count, vehicle classification, and speed monitoring sites, along with the agency's weigh-in-motion sites. The work replaces aging in-road sensor infrastructure with non-intrusive, AI-powered roadside systems that deliver higher accuracy, require no lane closures to service, and produce data that exceeds Federal Highway Administration reporting standards.