Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) shares began Tuesday sharply higher. The company, a leading security technology company pioneering AI-based solutions designed to create safer experiences, today announced that it has entered a multi-year subscription agreement and marketing partnership with the Athletic Department at the University of Washington.
The university, which has an enrollment of more than 52,000 students at its flagship Seattle campus, fields teams in 20 men’s and women’s sports and is a perennial Big 10 and national athletic powerhouse.
“The partnership is anchored,” reads this morning’s news release, “by a multi-year subscription to Evolv’s hardware and software. The University plans to deploy Evolv Express® Gen2 systems across several athletic facilities on campus, including Husky Stadium, the 70,000-seat home of the football team, and Alaska Airlines Arena, the 10,000-seat home to men’s and women’s basketball, gymnastics, and volleyball.”
Evolv Express reportedly uses advanced sensor technology and AI to detect concealed threats and identify the person and location of a potential threat, while allowing people to move through checkpoints at their natural walking pace. The system is designed to screen visitors effectively while helping minimize congestion and disruptions to traffic flow at entry points.
The agreement also designates Evolv as the “Official Fan Screening Partner of UW Athletics,” and the two organizations will collaborate on a range of marketing and community initiatives.
EVLV shares gathered 32 cents, or 4.9%, to $6.84.
