EQS-Adhoc: init innovation in traffic systems SE: MARTA Atlanta, Georgia intends to award an order for an Automated Fare Collection System to init

The Board of Directors of the Metropolitan Atlanta Rapid Transit Authority (MARTA) has approved a resolution authorizing the award of a contract for the procurement of the Automated Fare Collection (AFC) System 2.0 to INIT Innovations in Transportation, Inc. - a wholly owned US subsidiary of init innovation in traffic systems SE.

MARTA is the principal public transit operator in the Atlanta metropolitan area and operates an extensive network of bus and rail services throughout the region. Atlanta is the ninth largest metropolitan area in the United States.

Following the successful conclusion of negotiations, the contract is expected to be signed in late 2023 or early 2024. The Authority anticipates a contract value to be over USD 100 million for the initial design, installation, and deployment of AFC 2.0. Additionally, the total value of the contract is expected to double over 10 years of operations and maintenance.

 

Contact:
Person making the notification:
Simone Fritz
Investor Relations
ir@initse.com