News ReleaseHuntington Park Police Renews Knightscope Partnership for Sixth Year as Crime Rates Drop
MarketJar
Knightscope, Inc. (NASDAQ:KSCP), a leading Silicon Valley-based AI and security tech innovator, has once again secured the trust of Huntington Park Police Department, renewing its contract for the sixth consecutive year. This extension ensures that the K5 Autonomous Security Robot (ASR) will continue its crucial role in safeguarding Salt Lake Park, a move that has already led to a significant reduction in crime and enhanced public safety. Knightscope, which is known for its cutting-edge autonomous security robots (ASRs) and blue light emergency communication systems, creates technology that deters, detects, and reports incidents in real time. These robots are more than just gadgets; they represent a new frontier in crime prevention, offering security professionals unparalleled situational awareness. With their cost-effective deployment, Knightscope ’s robots are protecting various environments across the country, from workplaces and schools to parks and public spaces. The company's overarching mission is to transform the United States into the safest country in the world. Huntington Park Police Chief Cosme Lozano expressed his enthusiasm about the continued collaboration, stating, “The integration of the K5 ASR into our city resources has been transformative. It has greatly improved our capacity to monitor public spaces, boost public safety, and enhance the overall perception of our community.” The impact of the K5 ASR has been nothing short of remarkable. Since its deployment, the robot has played a key role in reducing crime and nuisance activities at Salt Lake Park. According to the city manager, the presence of the K5 ASR led to a 10% reduction in service calls and a staggering 46% decrease in crime reports during its initial year of operation. These figures underscore the effectiveness of Knightscope ’s technology in fostering a safer environment for the community. Knightscope also upgraded the Huntington Park Police Department to the fifth-generation K5 Autonomous Security Robot (ASR) at no extra cost, further enhancing its capabilities in safeguarding Salt Lake Park and continuing its impressive track record of reducing crime and boosting public safety. 1 The upgraded fifth-generation K5 Autonomous Security Robot features a wider stance for better stability, a raised camera for near eye-level 4K video capture, improved battery architecture, enhanced audio, additional lighting for better nighttime visibility, and a design optimized for easier maintenance. These improvements enhance its effectiveness and operational reliability. 2 William Santana Li, Chairman and CEO of Knightscope, emphasized the importance of equipping law enforcement with advanced tools, stating, “Our law enforcement officers deserve the utmost respect for their dedication and the best tools available to support their mission. We are honored to continue our partnership for another year, helping to protect the places where people live, work, study, and visit.” The K5 ASR, a cornerstone of Knightscope ’s technology suite, is not just making waves in Huntington Park. It’s also gaining widespread recognition in the tech world. Recently, Citi featured the K5 robot in its influential report titled "The Rise of AI Robots," positioning it alongside Boston Dynamics' Spot robot and Tesla's Optimus. 3 This acknowledgment underscores the growing impact of Knightscope ’s innovations and highlights the K5’s role in advancing security technology. Knightscope Expands Contracts with Schools, Transit Agencies, and University of Texas The recent extension with the police department is just the tip of the iceberg. Knightscope, Inc. (NASDAQ:KSCP) has achieved significant contract expansions with a diverse range of clients, including schools, transit agencies, multifamily communities, and universities, highlighting the growing confidence in its security technologies. Last month, the company renewed and expanded its contracts with several school districts and transit agencies. The enhanced agreements will see the deployment of Knightscope 's K5 Autonomous Security Robots (ASRs) to patrol and monitor public spaces, offering real-time incident detection and reporting to boost safety. The University of Texas has increased its use of Knightscope 's emergency communication systems, a move aimed at bolstering the university’s preparedness and response capabilities during emergencies. In California, a multifamily community has expanded its contract with Knightscope to include more K5 ASRs. This expansion will enhance security and improve safety for residents through continuous monitoring and prompt incident reporting. Additionally, two other universities have extended their contracts with Knightscope, incorporating more of its security solutions to further strengthen campus security and create a safer environment for students and staff. These expansions reflect Knightscope ’s growing impact and its commitment to improving safety and security across a variety of sectors and locations. For further information on Knightscope 's innovative solutions and projects, please visit Knightscope's website (NASDAQ:KSCP). Footnotes: [1] https://x.com/iKnightscope/status/1765815077918175447 [2] https://www.knightscope.com/post/the-fifth-generation-k5---an-exercise-of-evolutionary-discipline [3] https://www.citivelocity.com/rendition/eppublic/public/documentService/dXNlcl9pZD1qNzhtc2xQZkt0dz0/ZG9jX2lkPTMwMjY0MjM0JnBsYXRmb3JtSWQ9NzgmbWVudUl0ZW1JZD1BTExfSU5TSUdIVFM?ancestor=CVR22 Disclosure: 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies outlined in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Knightscope, Inc. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.). 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Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Knightscope, Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document. 7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities. 8) Investing is risky. 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August 08, 2024 08:30 AM Eastern Daylight Time
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