Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Technology company, Patriot One (TSXV:PAT), has been awarded a contract to supply threat detection software for the Canadian Royal Navy
  • The contract is valued at C$780,000
  • Innovation Solutions Canada, a government initiative, helped organise the arrangement.
  • Patriot One designs and deploys threat-detection software which can detect concealed weapons and potential attackers.
  • Patriot One Technologies (PAT) is up 7.46 per cent, with shares currently trading for C$1.44

Patriot One Technologies (PAT) has been awarded a contract with the Canadian Royal Navy valued at C$780,000.

Innovation Solutions Canada organised the arrangement between Patriot one and The Canadian Department for National Defence.

Patriot One will provide PATSCAN Multi-Sensor Covert Threat Detection Platform to the Navy. The platform is an AI-based system which takes radar, video, magnetic and chemical samples from the environment to detect concealed weapons or threats in a given environment. 

The company hopes that these “softer” less direct forms of concealed-threat detection will replace the more traditional security checks, such as walk-through metal detectors, and physical pat downs, which are currently used to keep facilities safe. 

The Canadian Royal Navy is looking to roll out this system in its ports around the world to guard against terrorist attacks or active-shooter scenarios. 

Innovation Solutions Canada, formerly known as the Build In Canada Innovation Program, source contracts for government initiatives as well as funding Canadian based R&D programs. 

Patriot One Technologies (PAT) is up 7.46 per cent, with shares currently trading for C$1.44 

More From The Market Herald

" KWESST (TSXV:KWE) closes US$14.1 million public offerings

KWESST Micro Systems (KWE) has closed its underwritten U.S. and Canadian offerings.

" Kontrol Technologies (NEO:KNR) subsidiary CEM Specialties wins new order from global cement company

Kontrol Technologies’ (KNR) operating subsidiary, CEM Specialties, has received a new Emission Analyzer order from a global cement company.

" Hopefield Ventures (TSXV:HVI.P) signs RTO deal

Capital pool company, Hopefield Ventures (HVI.P), signed a $250,000 amalgamation agreement with CyberCatch Holdings, Inc. and its subsidiary, 1390090 B.C. Ltd.

" Fobi AI (TSXV:FOBI) introduces new membership and loyalty program for the beauty & health industry

Fobi (FOBI) launched a membership and loyalty platform for the beauty & health industry and signed its first customer, Van Isle Beauty Co.