Press Release, ATWEC to Introduce New RFID Technology By 3rd Quarter 2020.
ATWEC introduces its new technology of Child Reminder and Cloud-Based Systems
MEMPHIS,TN / ACCESSWIRE / May 28, 2020 / ATWEC Technologies (OTC PINK:ATWT) a global leader in the child safety industry is pleased to announce its plans to start delivery of its 4th generation of child reminder and management systems for the ever-growing child transportation and safety industry. These new systems will include cloud-based technology designed to produce electronic records of a daily bus or van's student location while travelling to and from the facility.
"We are excited about delivering our fourth generation of the Kiddie Voice Reminder system branded as the KV-4 and introducing our new cloud-based technology to the world," said ATWEC Corporate Secretary, Darnell Stitts. "ATWEC has coined its new KV-4 technology integration as LOGGING. The primary objective of this first of its kind technology platform is to note or log a student rider onto the school vehicle therefore identifying where a student is located while being transported."
The new KiddieVoice child reminder system known as the KV-4 is designed with a new look and updated reset technology. The installation of the KV-4 system is easy to fit and less time consuming when installing into the vehicle. The new reset technology has been expanded beyond a push button or key switch to now include hand wave signal detection which utilizes Radio Frequency Identification ("RFID") technology. This new approach makes the KV-4 system tamper proof and adds increased durability as there is nothing to break down mechanically.
With laws being passed to mandate these systems throughout the country, ATWEC forecasts a delivery of 10,000 KV-4 units by year end, with projected revenues of over $3,000,000. Seven states have already adopted these mandates with more states to follow to ensure child safety on vans and buses. Marketing plans are now being utilized to further increase sales as more states continue to mandate this technology. Seven states have already adopted these mandates with more states expected to follow to ensure child safety on vans and buses.
ATWEC has two pilot programs in place for our KV-4 system. The system is scheduled to be installed at the Arrowhead Christian Academy in College Park, Georgia and Kids Childcare in West Memphis, Arkansas for testing and evaluation of its operations. These systems will be evaluated over a 30-day period before mass production is expected to ramp up.
The ATWEC cloud-based technology will also include as a standard option, TRACKING and GEO-FENCING, with a secondary feature that allows school administrators to locate whether or not a child is actually on the vehicle. However, our focus is on logging a child on the vehicle and notifying the parent and school of the child pickup.
With a monitoring fee of $99.95 per month after installation, the Company projects a steady monthly revenue stream from monitoring services, projected at an annual rate of $6 million.
About ATWEC Technologies, Inc. (OTC PINK:ATWT)
ATWEC Technologies, Inc. is a child safety and security technology company, headquartered in Memphis, TN, in business since 1979. ATWT has developed three unique child safety devices which protect children while they are being transported, both to and from schools, events, and homes, and gives parents and administrators ‘peace of mind'. ATWT has been issued patent number 7,646,288, B2 for its KV-3 system by the US patent office, and its business model is associated with legislation designed to mandate these systems for school and other vehicles, on a state-by-state basis. The KV-3 and the Kiddie Alert™ backup systems are currently being sold to customers across the globe. The
Company trades on the OTC Markets under the symbol "ATWT", and the Company's website is www.atwec.com.
NOTE: Certain statements made in this press release are forward looking statements within the scope of the Private Securities Act of 1995. Such statements involve known and unknown risks. Uncertainties and other mitigating factors may influence desired outcomes. Such risks, uncertainties and/or other mitigating factors include but are not limited to new economic conditions, risks associated in product development, market acceptance of new products and continuing product demand, level of competition and other factors both known and unknown as described within this Company's reports and other filings with appropriate regulatory agencies.