AITX's Subsidiary, Robotic Assistance Devices, Begins Production of 100 RIO 360 Units to Satisfy Surge in Demand

RAD Dealer Places Order for 2^nd RIO 360 for Global Commercial Real Estate Company

Detroit, Michigan, July 11, 2023 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions along with its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD), today announced that it has recently begun production of 100 RIO 360 solar-powered security towers. This escalation in the device’s production capacity and schedule is the result of a spike in orders and interest from dealers and corporate end users.

“In just over 9 months RIO has become RAD’s MVP,” said Steve Reinharz, CEO of AITX and RAD. “We knew that RIO’s market potential was large and growing. At the time we launched the original RIO the marketplace had a few players doing well. But they were piecing together simple solar powered towers with basic legacy cameras. It didn’t take long for the industry to get excited about replacing something that wasn’t exciting.” 

RAD’s initial RIO model was announced at a security industry trade show in September of 2022. The Company has since upgraded the solution to become RIO 360, a versatile solar tower with dual ROSA devices. RIO 360 offers the marketplace two valuable benefits. The first is the unmatched performance of dual ROSA devices that sit atop the unit’s mast. ROSA is RAD’s best-selling and a multiple award-winning device. The second critical differentiator is RIO’s value pricing. RIO’s pricing competes favorably against the leading solar tower manufacturers.

Reinharz added, “We expect that the combination of RIO’s impressive RMR and accelerating sales volume will help propel the Company towards the goal of becoming cash flow positive.”

Recurring Monthly Revenue (RMR) is money earned from customers who pay for a subscription to a service or product. RAD’s solutions are generally offered as a recurring monthly subscription, typically with a minimum 12-month subscription contract.

The Company noted that one of its authorized dealer has recently placed an order for a 2^nd RIO to be deployed at a large corporate campus, managed by one of the largest commercial real estate services companies. The 2 RIO units will be tasked with helping secure the facility’s parking lots from costly instances of loitering, trespassing and vandalism.

“RAD’s sales pipeline is loaded with large RIO opportunities, both direct and through our dealers,” said Mark Folmer, CPP, PSP, FSyI, President of RAD. “We’re working to close two large clients very soon, each looking at between 75 and 100 units.”