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IPICO signs China EVI joint venture

IPICO Inc has entered into a definitive agreement with CATS LUHAI (Beijing) Investment Co Ltd (CATS LUHAI) to form a joint venture company in the People’s Republic of China, for the purpose of the implementation and management of an advanced integrated electronic (RFID) vehicle identification and registration, route identification and toll collection program throughout the country.

CATS LUHAI is a subsidiary of the China Academy of Transportation Sciences (CATS), an agency of the Ministry of Transport with responsibility for transportation planning, finance, traffic information and security, environmental protection, transportation standards and measurement. The agreement results from the final selection by CATS of IPICO’s UHF RFID Electronic Vehicle Identification (EVI) technology, following more than three years of extensive technical evaluation and pilot testing.

China has over 63,000km of national, provincial and local highways, most of which are already subject to an older patchwork of manual toll collection concessions. There are at present over 56 million vehicles in China. The implementation of IPICO’s automated RFID tolling solution over this vast number of vehicles and roadways is not only expected to achieve very significant cost and revenue efficiencies, it is hoped that the implementation of advanced vehicle identification and routing systems will significantly reduce the high levels of congestion and pollution in many areas of the country.

IPICO expects the start of the project this quarter, and it will proceed province by province throughout China over the next four to five years.
 

May 1, 2009

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