Genasys, Inc. Provides Second Update on Puerto Rico Dams Early Warning System Project
'With the third group's deposit fully paid, Genasys is now able to proceed unabated on delivering the EWS to the island, protecting citizens and visitors to Puerto Rico downstream of the first 19 dams,' said Richard Danforth, CEO of Genasys, Inc.
The first group of dams is clustered in the hills around San Juan, the capital city of Puerto Rico. This group includes six dams that will require dozens of cameras and sensors to be placed around the dams and then integrated into the Genasys EWS. 50 sites are planned for outdoor speaker and communication arrays. To proceed, some local endorsements need to be secured, and some site locations require additional permitting. Construction is underway on all six dams in the first group, and most of the local endorsements have been secured. All the hardware and equipment necessary to complete this group is on the island or in transit. As a result, the first dam's implementation has been completed with PREPA officials already providing sign off on the dam's system as well as the software that will be utilized across all seven groups.
The second group is smaller and includes three dams located above Cayey, Patillas, and Guayama. Designs and permitting on these dams has been managed by PREPA, and EWS construction is underway on all three dam sites.
The third group is the largest and most complex of the seven groups in the project. It includes more than 10 dams and will require the installation of 50 outdoor speaker arrays and over 100 sensors and cameras. Permitting and local endorsements are actively being pursued. With the deposit received, final procurement and manufacturing of materials can be completed. EWS construction on the third group of dams is expected to begin later this month.
This update has been provided with the intent of informing investors of the progress of this significant contract, though no obligation or commitment to further update progress exists.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications. Incorporating the most comprehensive portfolio of preparedness, response, and analytics software and hardware systems, including the Company's Long Range Acoustic Device® (LRAD®), the Genasys Protect platform is designed around one premise: ensuring organizations and public safety agencies are Ready when it matters ™. Protecting people and saving lives for over 40 years, Genasys covers more than 155 million people in all 50 states and in over 100 countries worldwide. For more information, visit genasys.com.
Forward-Looking Statements
Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development as well as our perception of historical trends, current market conditions, current economic data, expected future developments and other factors that we believe are appropriate under the circumstances. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in any forward-looking statement. The risks and uncertainties in these forward-looking statements include without limitation the business impact of geopolitical conflicts and other causes that may affect our supply chain, and other risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. Risks and uncertainties are identified and discussed in our filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management's expectations as of the date hereof. Future results may differ materially from our current expectations. For more information regarding other potential risks and uncertainties, see the 'Risk Factors' section of the Company's Form 10-K for the fiscal year ended September 30, 2024. Genasys Inc. disclaims any intent or obligation to publicly update or revise forward-looking statements, except as otherwise specifically stated.
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