SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NYSE MKT: ITI), a leader in providing intelligent traffic management and weather information solutions, has joined the University of Michigan as one of 13 companies to be a founding partner in its Mobility Transformation Center (MTC). The MTC will initiate and execute multiple research programs to advance the technology and policies surrounding new methods of transportation relating to smart vehicles and infrastructure.
Connected vehicles, commonly known as V2V, have been tested extensively by the University of Michigan Transportation Research Institute (UMTRI) in the USDOT’s Safety Pilot Model Deployment in Ann Arbor. The results have been used to support the recent Advanced Notice of Proposed Rule Making announcement by the National Highway Traffic Safety Administration (NHTSA). Connected vehicle technology, including vehicles that can communicate with one another and with the surrounding infrastructure (V2I), has the potential to avoid the majority of serious crashes when extensively deployed.
Iteris plans to collaborate with MTC and the select group of companies to guide the selection of specific research programs, analyze the results of the research and adapt programs to develop full working automated vehicle systems and real world on-street deployments. U-M announced the founding partners that aim to revolutionize mobility on Friday, September 5.
Iteris is leading the USDOT’s Connected Vehicle Reference Implementation Architecture (CVRIA), which identifies key interfaces and standards of the Connected Vehicle Environment. MTC’s Leadership Circle will join with government and academic partners to lay the foundations for a commercially viable system of connected and automated vehicles. The companies named to the Leadership Circle span sectors as auto manufacturing, suppliers, ITS, insurance, telecommunications, data management, and mobility services.
“It’s a privilege to join the University of Michigan’s Leadership Circle, and collaborate with renowned companies to accelerate connected vehicle technology,” stated Abbas Mohaddes, president and CEO of Iteris. “We appreciate this very unique opportunity to share our expertise and to be involved with leading the innovation for efficient movement of goods and people for more vibrant, safe, sustainable and economically viable communities.”
Dr. Peter Sweatman, director of the MTC, commented: “We are on the threshold of a transformation in mobility that the world hasn’t seen since the introduction of the automobile a century ago. Only by bringing together partners from these sectors as well as from government will we be able to address the full complexity of the challenges ahead as we all work to realize the opportunities presented by this emerging technology. I am thrilled with the diversity and global reach of the new ecosystem of companies and agencies we have created. Our Founding Leadership Circle provides a unique nucleus for collaboration, deployment, and rapid learning in connected and automated mobility.”
About Iteris, Inc.
Iteris, Inc. (NYSE MKT: ITI) is a leader in providing intelligent information solutions to the traffic management market. The company is focused on the development and application of advanced technologies and software-based information systems that reduce traffic congestion, provide measurement, management, and predictive traffic and weather analytics, and improve the safety of surface transportation systems. By combining its unique IP, products, decades of expertise in traffic management, hyper-local weather solutions and information technologies, Iteris offers a broad range of Intelligent Transportation System (ITS) solutions to customers throughout the U.S. and internationally. The firm is headquartered in Santa Ana, California, with offices nationwide and abroad. For more information, please call 1-888-329-4483 or visit www.iteris.com. Also visit us on Facebook, Twitter, and YouTube.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the anticipated collaboration with MTC. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to impact the MTC research programs and adapt such programs for future deployments on a timely basis or at all; challenges in the analysis, development, roll-out of such programs, and market acceptance of such programs, the potential impact of product and service offerings from competitors and other competitive pressures; the availability and timing of government funding for ITS projects; the broad adoption of technology based mobility solutions; and the impact of general economic, political and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).