MONTRÉAL, July 31, 2019 (GLOBE NEWSWIRE) -- Siyata Mobile Inc. (the "Company" or "Siyata") (TSX-V:SIM / OTCQX:SYATF) is pleased to announce that it has received a purchase order from a distributor to equip various government vehicles in Australia with the CP250 in-vehicle cellular device as part of a Cellular Vehicle-to-Everything (C-V2X) pilot program.
C-V2X is designed to connect vehicles to each other, roadside infrastructure, cloud-based services, pedestrians, and others. C-V2X enables reliable, real-time communication and also offers a variety of services such as pay-as-you drive insurance, vehicle diagnostics, and safety features. With the help of sensors and communication systems, the Cellular Vehicle-to-Everything increases autonomous driving in vehicles. It is designed to deliver improved road safety and information services to vehicles, and it also uses advanced connectivity in the development of intelligent transport systems which will reduce congestion and pollution.
Marc Seelenfreund, CEO of Siyata Mobile, states, “C-V2X is a worldwide, game-changing technology to improve the safety of travelers and pedestrians while reducing congestion and carbon emissions. Analytics from CV2X are immensely valuable in the building of smart cities and our CP250 provides the required hardware, software, and cellular network, an all-in-one device which makes it highly relevant to both the commercial and non-commercial vehicle market.”
According to a MarketSudy.com report, dated July 16, 2019, the C-V2X market is projected to exceed USD $800 million by 2025 due to the increase in demand for safe & reliable road transportation, the rising adoption of autonomous vehicles, and the increase in the adoption of vehicle telematics by logistics & transportation companies. The smart city initiatives in developing countries serve to improve the roadside infrastructure with the help of IoT technology. The improved roadside infrastructure in turn enhances the transportation system in smart cities with the help of C-V2X communication technology.
The CP250 is the first and only LTE all-in-one tablet style fleet communications device for cellular voice calls, Push-to-Talk Over Cellular, navigation, data applications, built in forward facing camera, and DVR to enable C-V2X capabilities. This device was designed to be installed on the dash or mounted on a windshield, specifically for lighter commercial vehicles such as taxis, vans, delivery trucks, and non-commercial vehicles.
A TSX Venture Top 50 Company, Siyata Mobile Inc. is a leading global developer and provider of cellular communications systems for enterprise customers, specializing in connected vehicle products for professional fleets, marketed under the Uniden® Cellular brand. Since developing the world’s first 3G connected vehicle device, Siyata has been a pioneer in the industry, launching the world’s first LTE all-in-one fleet communications device in 2017. Incorporating voice, push-to-talk over cellular, data, and fleet management solutions into a single device, the company aims to become the connected vehicle communications device of choice for commercial vehicles and fleets around the world.
Siyata also offers rugged phones for industrial users and signal boosters for homes, buildings, and fleets with poor cell coverage. Siyata’s customers include cellular operators, commercial vehicle technology distributors, and fleets of all sizes in Canada, the U.S., Europe, Australia, and the Middle East.
On Behalf of the Board of Directors of:
SIYATA MOBILE INC.
CEO and Chairman
Glenn Kennedy, VP Sales
Siyata Mobile Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.