Verra Mobility to implement California's first automated speed safety program in San Francisco

Partnership with San Francisco Municipal Transportation Agency involves 33 speed camera locations; program expected to be fully operational early 2025

MESA, Ariz., Oct. 16, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the approval from the San Francisco Municipal Transportation Agency (SFMTA) Board of Directors to design, build, operate and maintain a speed safety program across the city and county of San Francisco – California's first speed safety program leveraging advanced automated technology. 

"We are thrilled to have reached a significant milestone in bringing speed safety cameras to San Francisco's streets, marked by the approval of our contract with Verra Mobility," said SFMTA Streets Director Viktoriya Wise. "With speeding as the leading cause of serious injuries, we've moved swiftly to introduce this life-saving tool proven to reduce speeding and protect lives in cities nationwide."

Verra Mobility and SFMTA will commence the implementation process of speed safety cameras at 33 sites across the city. The goal is to have a fully operational speed safety program in early 2025. 

Under Assembly Bill 645, which became law in January 2024, Glendale, Long Beach, Los Angeles, Oakland, San Francisco and San Jose are authorized to pilot camera systems for speed enforcement. San Francisco is the first pilot city to complete its procurement process and select a vendor, thereby advancing the pilot program to increase citizen safety.

"We are grateful and excited that San Francisco has chosen Verra Mobility to implement their speed safety program," said Jon Baldwin, executive vice president of Government Solutions at Verra Mobility. "As the facilitator of the largest metropolitan speed programs in the U.S., we look forward to partnering with San Francisco to help achieve its goal of Vision Zero." 

Verra Mobility is committed to fostering safer, healthier communities and enhancing quality of life. Through partnerships with local advocacy organizations and businesses, the company builds a diverse, skilled workforce while supporting the economic and social well-being of the communities it serves.

"Speed cameras are a proven tool to save lives. We are glad San Francisco has secured an experienced vendor that's already working with leading Vision Zero cities to move forward quickly in getting cameras on the ground," said Jodie Medeiros, Walk San Francisco.

"We are glad to see this investment in our community and the thoughtfulness in their decision," said the San Francisco Bicycle Coalition. 

In addition to local safety advocates, Verra Mobility partnered with Marinship Development, a Bay Area minority business enterprise (MBE), who will be contracted to do the on-the-ground construction and installation of the cameras.

"By combining Verra Mobility's advanced technology with our construction expertise and long history in the Bay Area, we aim to make transportation in California more convenient, greener, and overall safer," said Marinship Development Founder and Managing Member Derek Smith. 

To learn more about speed safety solutions and how they can help communities, visit www.verramobility.com/government/speed-enforcement. 

About Verra Mobility

Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility's transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility operates in North America, Europe, Asia and Australia. For more information, please visit www.verramobility.com.

Forward Looking Statements 

We describe initiatives that drive our business and future results in this press release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes or anticipates will or may occur in the future. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties that can affect our performance in both the near-and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this press release can or will be achieved. These forward-looking statements should be considered in light of the information included in this press release, our Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.

Additional Information

We periodically provide information for investors on our corporate website, www.verramobility.com, and our investor relations website, ir.verramobility.com.

We intend to use our website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our website, in addition to following the Company's press releases, SEC filings and public conference calls and webcasts.

SOURCE Verra Mobility