Ultrack Systems Inc. (OTCMKTS: MJLB) dropped 6.2% in the last trading session. The company announced the reprogramming of its DriveLineELD products as per the latest requirements and standards.
Ultrack reprogramming DriveLineELD solution
In a press release on April 29, 2021, FP Innovations advised the company about the need for a reformed testing protocol to receive certification. As a result, the OBDII test protocol was included in the procedure, although the test protocol wasn’t necessary according to the Government’s mandate of January 2021. In addition, the inclusion of the OBDII test protocol to the J1708/J1939 was complex, considering OBDII was initially meant for light trucks and cars.
Most importantly, OBDII links to the engine control molecule and requests for necessary data. The J1708.J1939 has been designed for heavy equipment and commercial trucks, and it continuously transmits data in a constant stream. Therefore, the company’s DriveLineELD chip needed reprogramming to understanding if there is a constant stream of requested or received data and to recognize vehicles it is connected to.
CEO Michael Marsbergen said, “Reprogramming our DriveLineELD chip and performing 400 successful tests has been an unanticipated challenge. Making sure we pass on each test, fixing any related bugs that have popped up and completing changes along the way has been a time-consuming process, but I’m pleased that we are near completion.”
Ultrack wins two new contracts
The company recently secured two new contracts for its products to be used in fleets of cars for high-end rental companies. Equally, the company is finalizing the launch of the ELD solution, and so far, hurdles that were there have been cleared. The rental companies represent new clients for the company and will help the company attain deeper market penetration. The rental car market was estimated to be worth $92.92 billion in 219, and by 2027, it could reach $214.04 billion at a CAGR of 10.7%.