Q-Free has signed contracts with Norled, one of Norway’s largest operators of automobile and fast ferries, to deliver automated classification and payment solutions (AutoPASS) for several ferry connections in Norway. The value of these contracts is approximately 50 MNOK and may increase if Norled decides to exercise certain options for potential future connections. The system will be established and delivered during 2019 while operations will commence in 2020 and last for 10 years.
-We are excited about signing our first contracts with Norled and the prospect of improving their operational processes and the user experience for their passengers. During the past couple of years Q-Free has signed long-term contracts in the Norwegian ferry market with a total value of approximately 200 MNOK. This is a substantial contribution to our recurring revenue business, comments President & CEO in Q-Free, Håkon Volldal.
For further information, please contact:
President & CEO, Håkon Volldal: +47 977 19 973
CFO, Tor Eirik Knutsen: +47 950 50 062
Q-Free is a leading global supplier of ITS (Intelligent Transportation Systems) products and solutions. The company has approximately 385 employees, offices in 16 countries, and a presence on all continents. Headquartered in Trondheim, Norway, Q-Free is listed on the Oslo Stock Exchange under the ticker QFR.