Utron: Agreement to build a parking lot in San Francisco for NIS 13 million – the capital market

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The developer of automated logistics systems and automated parking lots, which is controlled by the Pimi Foundation (44.3%), reports that it has signed an agreement to establish an autonomous parking lot in San Francisco for about NIS 13 million. The project is expected to be completed during 2024.

The agreement joins an agreement signed about two weeks ago to establish an autonomous parking lot in New York, when it has signed a total of 22 projects in North America so far. Similar to the current agreement, the company’s expected return for the project in New York amounts to NIS 13.2 million and is planned to be completed during 2023.

Haim Shani, CEO of Yotron: “The company’s business focus on a number of core areas in the US market continues to prove itself. For the first time, Utron is introducing a robotic system equipped with image processing and artificial intelligence that allows all vehicles in the parking lot to be connected to automatic charging without driver involvement. This capability is especially important in California. “The growing number of electric vehicles. The two agreements we signed in the last two weeks indicate a resurgence and growing demand in the US market. The company’s backlog creates a long-term business horizon, and is a testament to the growing demand for the company’s unique solutions and business positioning.”