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The Company is jointly developing an advanced AI and machine learning-based system with the Ben Gurion University to predict drone faults integrated on Maris-Tech systems
Rehovot, Israel, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (NASDAQ:MTEK, MTEKW))))) ("Maris-Tech" or the "Company"), a B2B provider of Artificial intelligence ("AI") accelerated video solutions for edge platforms, today announced that it has a grant approval of approximately $156,000 from the Israel Innovation Authority ("IAA") to support the second year of a joint development project with the Ben Gurion University of the Negev ("BGU").
The grant represents 66% of the total budget for the second year operation (or approximately $236,000) of the ongoing joint project to develop an advanced system based on AI and machine learning ("ML") for diagnosing and predicting drone faults and malfunctions. The total budget for the two-year project is approximately $695,000. The aim of the project is to adapt and integrate an identification and prediction model developed at BGU in existing Maris-Tech systems.
The grant was approved based on the successful completion and meeting of the objectives of the first-year work plan and the continued successful collaboration between Maris-Tech and BGU.
"The continued support of the IIA is a validation of the flexibility and utility of our technology and is based on the results of our successful partnership with BGU. Maris-Tech continues to make strides to meet critical and emerging needs of the global drone market based on our unique solutions, incorporating cutting-edge video streaming and AI capabilities." said Israel Bar, CEO of Maris-Tech.
Posted In: MTEK
