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Duos Technologies Group Signs $42M Asset Management Agreement with Fortress for Power Generation Assets

Nov 20, 2024•over 1 year ago

Contract Type

agreement

JacksonvilleManufacturingInformation TechnologyProfessional ServicesScience And EngineeringGovernment And MilitaryPrivacy And Security

Description

Duos Technologies Group, Inc. has signed a two-year Asset Management Agreement (AMA) with affiliates of Fortress Investment Group to deploy and operate a fleet of mobile gas turbines and balance-of-plant inventory with a combined generation capacity of 850 megawatts. The agreement accelerates the diversification of Duos’s business and is part of its strategy to achieve profitability in FY2025.

Company Information

Company

Duos Technologies Group

Location

7660 CENTURION PARKWAY

Jacksonville, Florida, United States

About

Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiary, Duos Technologies, Inc., designs, develops, deploys and operates intelligent vision based technology solutions supporting rail, logistics, intermodal and government customers that streamline operations, improve safety and reduce costs. The Company provides cutting edge solutions that automate the mechanical and security inspection of fast-moving trains, trucks and automobiles through a broad range of proprietary hardware, software, information technology and artificial intelligence.

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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.