Leading video and AI-based edge computing company establishes U.S. subsidiary to accelerate growth in U.S. defense and homeland security sectors
Rehovot, Israel, Oct. 10, 2024 (Globe Newswire) — Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW), a global leader in video and artificial intelligence (AI) (“Maris-Tech” or “Our Company”) )-based edge computing technology, today announced a significant expansion into the U.S. market with the creation of a new subsidiary, Maris North America Inc. (“Maris North America”).
This move marks an important milestone in Maris-Tech’s continued global growth and the company’s commitment to provide cutting-edge solutions to the defense and homeland security (HLS) sector, which is experiencing significant growth in the United States. This reconfirms our efforts. The HLS market is projected to be worth US$ 264.98 billion by 2034, at a CAGR of 6.01% from 2024 to 2034, and US$ 169.4 billion by 2034, at a CAGR of 4.91% from 2023 to 2028. It is projected to grow by USD 30 million.
Maris North America will serve as a strategic hub for Maris-Tech’s operations across the United States, providing localized support and further strengthening its ability to develop new business relationships in North America.
In conjunction with this expansion, the company has entered into consulting agreements with two experienced business development, marketing and sales professionals. We believe they can help drive growth and capture new opportunities in the U.S. market. These new consultants bring extensive expertise to the defense and HLS industries, and their contributions will be essential as Maris-Tech continues to build its U.S. customer base.
Israel Bar, CEO of Maris-Tech, said: “Our decision to form Maris North America is an important step in our global expansion strategy.” We are confident that our presence in the United States will strengthen our sales efforts and allow us to provide more customized and localized support to our growing customer base across North America. ”
Maris-Tech continues to provide high-performance edge computing technology that improves situational awareness and operational efficiency to customers around the world with innovative AI-driven video solutions.
About Maristech Co., Ltd.
Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that overcome complex encoding and decoding challenges. Our small, lightweight, and low-power products offer high-performance features such as raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israeli technology veterans, Maris-Tech serves leading manufacturers in the defense, aerospace, intelligence gathering, homeland security (HLS) and communications industries around the world. We push the boundaries of video transmission and edge computing to drive innovation for mission-critical applications across commercial and defense sectors.
For more information, please visit https://www.maris-tech.com/.
Disclaimer regarding forward-looking statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. intended to be targeted. The “port” created by those sections. Forward-looking statements are based on certain assumptions and describe the Company’s future plans, strategies and expectations and generally include the terms “believes”, “expects”, “may” and “should”. You can identify them by the use of forward-looking terminology, such as “the future of the future.” “”, “could”, “seeks”, “intends”, “plans”, “goals”, “estimates”, “anticipates” or other equivalent terms. For example, when discussing Maris-Tech’s continued global growth, particularly growth and new future opportunities in the U.S. market, projected growth in the HLS and defense markets, and Maris North America ramping up sales efforts, we Uses forward-looking statements. Further strengthening our ability to provide local support and develop new business relationships in North America, with two new consultants helping to drive growth and capture new opportunities in the US market. , and the critical importance of Maris’ presence in the U.S., Tech continues to build its U.S. customer base. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond our control. Our actual results of operations and financial condition may differ materially from those expressed in the forward-looking statements. Therefore, you should not rely on these forward-looking statements. Important factors that could cause our actual results of operations and financial condition to differ materially from those expressed in the forward-looking statements include, among others: our ability to successfully market our products and services, including in the United States; customer acceptance of our products and services; our ability to continue to pay our operating costs and meet demand for our products and services; the amount and nature of competition from other security and communications products and services; Impact of changes in cybersecurity and communications markets. our ability to successfully develop new products and services; our success in establishing and maintaining collaborative and strategic partnership agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and as otherwise described in our Annual Report on Form 20-F for the year ended December 31, 2023 filed with the SEC on March 21, 2024 and our other filings with the SEC. Risks and Uncertainties. We undertake no obligation to publicly update any forward-looking statements, whether written or oral, made from time to time, whether as a result of new information, future developments or otherwise.
Investor information:
Nil Bussey, Chief Financial Officer
Phone number: +972-72-2424022
Nir@maris-tech.com
