Investorideas.com

Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411


Share on StockTwits

Security and AI Combine in Canada: Patriot One's (TSX: $PAT.TO) (OTCQX: $PTOTF) Xtract AI Division Awarded $199,000 CAD Department of National Defence Contract

Patriot One's (TSX.V: $PAT.V) (OTCQB: $PTOTF) on Investorideas.com

 

VANCOUVER, BC - May 28, 2020 (Investorideas.com Newswire, Homelanddefensestocks.com) Patriot One Technologies Inc. (TSX: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL) wholly-owned subsidiary Xtract Technologies ("Xtract AI") is pleased to announce it has secured a $199,000CAD contract with Canada's Department of National Defence through the Public Works and Government Services Canada Division, as part of the Innovation for Defence Excellence and Security (IDEaS) Program.

Operating covertly is key for Army operations and the "Now you see me, now you don't" project is looking for solutions to actively modify the visual and infrared signatures (the pattern emitted by an object) of Army platforms in order to decrease detectability. Xtract AI proposes to leverage recent advances in deep learning and computer vision, along with novel deep learning technology to develop a system capable of assessing the efficacy of any existing or developed adaptive and multi-spectral concealment and camouflage technologies or materials. This will guide the development of technologies that optimally reduce visual and infrared detection of soldiers and vehicles, and enhance the performance of materials designed to eliminate detection in dynamic environments in real time.

The proposed system will combine two deep learning components: a soldier and vehicle detector; and a soldier and vehicle concealer. The detector will be a computer vision model that is able to identify people and vehicles from visual and infrared video streams. Meanwhile the concealer will be a computer vision model that uses real-time information from the context (e.g., background visual and heat patterns) to determine the optimal visual and infrared signature to facilitate concealment.

Using these two components, several outstanding problems with soldier and vehicle concealment can be addressed. Concealment systems will be able to be assessed, for example the efficacy of new uniforms, textiles and vehicle add-ons. Pitting the two components against each other will also facilitate the development of optimal concealment methods. Additionally the concealer will be trained to generate modified visual and infrared signatures that are able to prevent detection by the deep learning detection system.

"We're delighted that the Innovation for Defence Excellence and Security (IDEaS) program selected us to work on this project," said Martin Cronin, CEO of Patriot One Technologies. "Utilising Xtract AI's knowledge of artificial intelligence, and data and video analysis we hope to be able to assist the Canadian Army in their ability to operate covertly, thus keeping our soldiers safer."

For more details on the Public Work's DND contract, please visit: https://buyandsell.gc.ca/procurement-data/tender-notice/PW-19-00880697

About XTRACT TECHNOLOGIES INC - a subsidiary of Patriot One Technologies

Xtract AI develops and commercializes artificial intelligence, machine learning, deep neural networks and predictive solutions utilizing advanced technology for public institutions and private enterprise. The firm has an award winning, highly skilled team that develops AI solutions to solve challenges across computer vision (CV), natural language processing (NLP), anomaly detection, and time-series analysis for applications ranging from security and defence to environmental solutions and healthcare. For more information on building your AI solution, visit: xtract.ai

About Patriot One Technologies Inc. (TSX:PAT) (OTCQX: PTOTF) (FRA: 0PL):

Patriot Ones' mission is to deliver innovative threat detection and counter-terrorism solutions for safer communities. Our PATSCAN™ Multi-Sensor Covert Threat Detection Platform provides a network of advanced sensor technologies with powerful next generation AI/machine learning software. The network can be covertly deployed from far perimeter to interiors across multiple weapons-restricted facilities. The PATSCAN™ platform identifies and reports threats wherever required; car park, building approach, employee & public entryways and inside the facilities. Each solution in the platform identifies weapons, related threats or disturbances, or potential health and safety threats for immediate security response. Our motto Deter, Detect and Defend is based on the belief that widespread use of the PATSCAN™ platform will act as an effective deterrent to diminish the epidemic of active threats around the globe. For more information, visit: www.patriot1tech.com or follow us on Twitter and Facebook.

About the Innovation for Defence Excellence Program

The Innovation for Defence Excellence and Security (IDEaS) program fosters open innovation to provide creative thinkers with the structure and support to encourage solutions which will assist in solving some of Canada's toughest defence and security challenges. The IDEaS program is broken into several components, designed to advance defence technologies in Canada. Innovations are eligible for funding up to $200,000 during Component 1a and up to $1,000,000 during Component 1b. Innovations that are promising for Canada can receive non-IDEaS Program funding up to $20M to continue development up to Solution Readiness Level 9.

For further information, please contact:

Patriot One Technologies Inquiries
info@patriot1tech.com
www.patriot1tech.com

Investor Relations
John Martin, Patriot One Technologies
+1 (888) 728-1332
johnm@patriot1tech.com

Media Contacts:
Scott Ledingham, Patriot One Technologies
+1-613-806-7135
scott@prmedianow.com

CAUTIONARY DISCLAIMER STATEMENT:

No securities exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to system sales, product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects"," believes", and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include counterparty default and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Neither the Toronto Stock Exchange (TSX) nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Paid News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring TSX: PAT is a paid for news release on Investorideas.com ($750) More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

About Investorideas.com

https://www.investorideas.com/About/

Sign up for free stock news alerts at Investorideas.com

https://www.investorideas.com/Resources/Newsletter.asp


Get more Defense Stock Investor Ideas - news, articles, and stock directories

Buy a security / defense guest post on Investorideas.com