ProStar Holdings newly listed on the TSX Venture Exchange and trading under the symbol "MAPS", reported that effective today, the Colorado Department of Transportation or CDOT, has mandate the use of ProStar's Pointman® software. ProStar, which specializes in the development of patented mapping software, provides the company's Precision Mapping Solutions™ on a Software as a Service basis.
For more information, please view the InvestmentPitch Media "video" which provides additional information on the company and this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter "ProStar" in the search box.
ProStar's Solutions are designed to improve the business operations and reduce risk of any industry that requires the precise location of infrastructure, including utilities and pipelines. PointMan®, ProStar's flagship product, is a patented mobile mapping software application that captures, records, and displays the precise location and the associated metadata to subsurface and surface infrastructure.
The data that PointMan® captures includes type, depth, accuracy, depth of cover, and precise geospatial location.CDOT's new mandate compels more than 150 utility companies and more than 1,000 utility installation stakeholders to use ProStar's PointMan® mobile software platform to capture and record the precise location of underground utilities.
CDOT's mandate is focused on improving the accuracy and reliability of existing utility records, which has become a national problem. Utility companies, under CDOT's mandate, will be required to leverage PointMan to collect utility data during the installation process.
Rob Martindale, CDOT's Utilities Program Manager, stated: "ProStar's solution is a specifically designed, utility focused technology that addresses all of our requirements to capture accurate information including the precise location of utility installations. Not knowing where utilities are buried has proven to be a major concern at the state, municipal and federal levels. CDOT is striving to be on the forefront of implementing data quality and accuracy standards in order to improve the confidence level of utility locations."
According to Mr. Martindale, who is also CDOT's rules, policies and procedures administrator, the state also selected PointMan because it is intuitive, easy to use, and runs on standard mobile devices.
Page Tucker, ProStar's CEO and founder, added: "Pointman being mandated by a government agency is a significant milestone for the Company and major validation of our solution. It means our solution will be utilized by several thousands of new users. This is very promising as we are seeing adoption of PointMan by a number of utility owners, construction companies, engineering and surveying firms, with both national and international market presence. With this mandate now in effect, ProStar is seeing a high-level of interest from several other Department of Transportation ("DOT") and government agencies."
He also noted that the business partnership with Trimble will further accelerate the adoption of PointMan and the success of this mandate as most DOTs and their stakeholders leverage Trimble's GPS technology.
Stephanie Michaud, P. Eng., Strategic Marketing Manager, Trimble, stated: "Together, Trimble and ProStar are changing the way construction companies, engineering and surveying firms as well as government transportation agencies capture, store and utilize utility infrastructure data. By leveraging the power of geospatial technology, they are able to make more informed decisions in the field. Through this collaboration with ProStar, we are committed to integrating Trimble technology into ProStar's cloud and mobile solutions to enhance safety protocols on site, reduce project costs and make a safer work environment."
ProStar is well financed having recently raised gross proceeds of $5.6 million from the placement of 14 million shares priced at $0.40 per share.
About InvestmentPitch Media
Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Barry Morgan, CFO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72137