Vancouver, BC and München, Germany – Liberty Defense Holdings, Ltd. (“Liberty”) (TSXV:SCAN; FRANKFURT:LD2), a leader in security and weapons detection solutions, is pleased to announce that the company has signed a Memorandum of Understanding (“MOU”) with the German soccer team, FC Bayern München (“FC Bayern”), a German football club based in Munich, Bavaria (“Bayern”) to beta test HEXWAVE.
Allianz Arena, the home of FC Bayern, has a 75,000-seating capacity and is the second largest arena in Germany.
HEXWAVE uses low-power, radar imaging, and artificial intelligence primarily to detect and identify weapons, while enabling a layered defense strategy for a venue, meaning the ability to detect threats at the perimeter of the property without obstructing the movement of large groups of people.
“The reception to our HEXWAVE product has been fantastic and we are excited about working alongside FC Bayern Munich, a team that is a household name in both Europe and North America,” said Bill Riker, CEO of Liberty Defense. “Our ability to deploy in both indoor and outdoor settings, with covert and overt applications, sets us apart and has also been driving increasing interest from the market.”
Product testing in actual facilities, in partnership with organizations such as FC Bayern, is a crucial part of the product development process for HEXWAVE to ensure that the product is aligned to market requirements. Testing in Europe will likely take place following the initial testing in North America.
Beta testing involves testing HEXWAVE in a live environment with the initial Alpha testing to occur at Liberty’s Center of Excellence laboratory in Atlanta, Georgia.
Oliver Meßthaler, head of security FC Bayern München said, “We look forward to working with Liberty Defense to assess the capabilities of the HEXWAVE product.”
“We are pleased to have the opportunity to work with FC Bayern and have them sign on to become the first early adopter in Europe of this advanced technology,”
added Riker.
The weapons detections systems market size is expected to reach over US$7.5 billion by 2025, up from US$4.9 billion today, with public venues such as stadiums comprising 20% of the market. Europe alone is expected to make up 24% of this global market, according to a 2018 report from Homeland Security Research Corp.
About Liberty Defense
Liberty Defense Holdings, Ltd. (TSXV:SCAN; FRANKFURT:LD2)provides security solutions for concealed weapon detection in high volume foot traffic areas and has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement, for patents related to active 3D radar imaging technology that are packaged into the HEXWAVE product. The system is designed to provide discrete, modular and scalable protection to provide layered, stand-off detection capability. This is intended to provide a means to proactively counter evolving urban threats. The sensors with active 3D radar imaging and Artificial Intelligence (AI)-enhanced automatic detection are designed to detect metallic and non-metallic firearms, knives, explosives and other threats. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com
About Bayern Munich
Football-Club Bayern München AG., commonly known as FC Bayern München, FCB, Bayern Munich, or FC Bayern, is a German sports club based in Munich, Bavaria (Bayern). It is best known for its professional football team, which plays in the Bundesliga, the top tier of the German football league system, and is the most successful club in German football history, having won a record 29 national titles and 19 national cups. Allianz Arena has a 75,000 seating capacity and is the second largest arena in Germany.
Forward-Looking Statements
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this press release include, amongst others, information relating to the expectation for the development of HEXWAVE and future Beta testing. Such statements and information reflect the current view of Liberty. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the development of HEXWAVE and future Beta testing. These fluctuations may adversely affect the price of the Liberty’s securities, regardless of its operating performance. There are a number of important factors that could cause Liberty’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; the limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).
Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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