Duos Technologies Group Inc (DUOT)

[Adrian1]

The latest edition of Railway Age has just published that the Railway Safety Act of 2023 has been passed by the Senate Committee. The full article can be found at:

https://www.railwayage.com/regulatory/s-576-out-of-committee-what-next/

Summary: S.576 “addresses safety requirements for rail carriers and trains transporting hazardous materials. Specifically, DOT must also establish requirements for wayside defect detectors … Current federal regulations do not require their use, but federal guidance does address their placement and use.”

My Opinion: The bill discusses preventing the so-called 30-second railcar inspections (which are done manually) and mandates a new requirement that ensures railcars are properly inspected. The implication of this is that in order to do rapid inspections, the railroads will need to implement a technology like the Duos RIP which can inspect a moving rail car in seconds and make the results available to a qualified mechanical car inspector for further analysis.

I encourage everyone to listen to the upcoming earnings call to learn more about Duos involvement in this.