Location Based Technologies, Inc. (OTC: LBAS) said it has signed an exclusive license agreement with UT-Battelle, LLC, which manages and operates the Oak Ridge National Laboratory for the US Department of Energy, to integrate and market UT-Battelle´s electric power restoration forecasting system, called VERDE Analytics.
Integration of ORNL´s VERDE Analytics environmental situation information with LBT GPS location information in near real-time, enables mobile service providers to dramatically improve responsiveness when managing through severe weather conditions and enhance worker safety at the same time using a single source to view the mapped information. LBT GPS tracker devices have been designed to significantly increase situational awareness by providing highly accurate location information for monitoring vehicles, mobile assets, as well as work crew personnel. The VERDE Analytics system combines more than 50 non-proprietary environmental and weather data feeds providing comprehensive maps along with up-to-the minute projections for restoration of power operations.
LBT will have exclusive rights to market the VERDE Analytics maps with their GPS location technology. Integration is expected to be complete before the end of the second calendar quarter (Q2) 2014, at which time it will be offered to commercial customers as well as public utilities and other agencies throughout the US.
Location Based Technologies designs and builds dedicated GPS products and services that are affordable and easy to use. The company´s consumer products are sold under the PocketFinder brand, and its commercial products are sold under the LBT brand. For more information, visit: www.pocketfinder.com or www.locationbasedtech.com.