Vegamot AS, a Norwegian toll operator, has awarded Q-Free multiple contracts to design, deliver, and service tolling roadside equipment for tolling projects in Norway.
The contracts will have a total value above 30 MNOK during the expected contract period. They are mainly structured as service deliveries and will generate annual recurring revenues. Deliveries will start in 2022.
“Vegamot AS and Bompengeselskap Nord AS signed a frame agreement with Q-Free in October 2021, and have since then awarded contracts estimated to be worth more than 260 MNOK to Q-Free. Ålesund, Trondheim, and Tromsø are among the prestigious tolling projects Q-Free will be responsible for delivering. We are grateful for the trust Vegamot continues to put in Q-Free and look forward to deploying additional Q-Free Multi-Lane Free Flow solutions on Norwegian toll roads to maximize revenue collection for operators and minimize hassle for motorists”, says Håkon Volldal, President & CEO of Q-Free ASA.
For further information, please contact:
Håkon Volldal, President & CEO, +47 977 19 973
Trond Christensen, CFO, +47 481 02 754
This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Rita Bøe Isaksen, Board Secretary in Q-Free ASA, on 4 March 2022 at 08:00 CET.
Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems that improve traffic flow, road safety, and air quality. With an open, collaborative approach to tolling, traffic and active transportation management, Q-Free works with customers and partners on every continent to digitize infrastructure and overcome modern mobility challenges for the greater good of society.
Headquartered in Trondheim, Norway, Q-Free has annual revenues of approximately 900 million NOK (100 MUSD) and employs approximately 350 transportation innovators, experts, and enthusiasts. To learn more about how Q-Free is “changing the movements of life”, visit www.q-free.com or Twitter:@Q-FreeASA