Genesis Electronics Group Inc. (OTC:GEGI) Stock Resume Uptrend: Here is Why

Maker of autonomous road-to-rail patent-pending shipping technology, Glīd, Genesis Electronics Group Inc. (OTCMKTS:GEGI) announced signing a binding exclusive manufacturing partnership agreement with Bart Manufacturing Inc for buildingGlīd units.

Bart and Glīdalso confirmed that production of all-electric Glīd units will begin by the summer’s end once the final joint design for manufacturing is completed at Bart’s world-class manufacturing facility in Stockton, CA. The two companies have given engineered solutions to companies operating in the Automotive, Technology, Aerospace, Consumer Electronics, Industrial Systems, and Solar Industries space.

GEGI and Glīd’s CEO, Kevin Damoa said that both the entities aligned rapidly on the delivery of a great product supporting a safer and decarbonized solution across the United States.

The agreement is comprehensive covering manufacturing costs, planned volumes as well as quality metrics for meeting the first projected milestone of 10 sets of Beta units. Learnings from the program would be applied to Bart and Glīd commercialization through 2029.

Bart President, Joel Weissbart said that the customizedelectro-mechanical manufacturing approach makes Bart’s proposition highly competitive. Weissbart added that the collaboration is a wonderful example demonstrating Bart as the go-to supplier for delivering world-class technologies.

Trevor Weissbart, Vice President of Bart Manufacturing expressed delight in partnering with Glid and supporting the vision to reality. Weissbart added that the firm feels that technology’s combined goal of achieving carbon neutrality will help build a better world.

GEGI also announced the building of bleeding-edge rail inspection as well as safety testing technology within its Glīder units. This will enable the transmission of critical safety data back to railroad owners and Glīd operators.

Genesis Electronics Group announced a key feature in theGlīder units. Every unit pair would be equipped with rail inspection capabilities enabling the ability to detect rail defects through track profile inspection and other hazards.

The system comprises high-quality point-tilt-zoom camera systems and 3DLOC software, enabling Glīder to geotag data and download it directly to Glīd’s database. This will further allow Glīder to inspect track and rail, giving a comprehensive report on the findings to customers and rail owners. This will ensure the planning of outages efficiently and precisely, leading to lower downtime.

Conventionally, rail tracks are inspected by humans or through manually operated machines called track recording vehicles. The inspection is labor-intensive, costly, time-consuming as well as dangerous. Rail can be inspected usingGlīders and repairs can be made accordingly.

As per the Federal Railroad Administration, there were 783 train derailments between 2018 to 2021 with the main cause being track failure. These cost over $165,000,000 in direct costs.

Kevin Damoa, CEO of GEGI and Glīd said that the company aims to support deployment of Intelligent Rail Systems in the United States.


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