Shares of BOBR Safe Inc (NASDAQ:SOBR), a provider of top-notch alcohol screening solutions, closed the day at $1.8000 with a gain of $0.6900 (+62.16%). SOBR currently has a 52 Week Range 0.6500 – 9.7500.
The stock surged after SOBR Safe announced today that its SOBRcheck product has been successfully installed in the oil and gas industry, leading to its expansion across all US locations for TerraTech Services, a leading global oilfield services and logistics provider. Initially, TerraTech installed SOBRcheck in two service centers for fleet and workplace use and, due to its successful performance, is now rolling it out to its 17 locations in 11 states. The expansion is expected to be completed by April of this year.
TerraTech, through its parent entity, is one of more than 100 companies owned by an international conglomerate with annual revenue exceeding $20 billion.
“SOBRcheck™ is impressive technology, and I can’t wait to get it installed everywhere,” stated TerraTech Health, Safety & Environmental (HSE) Manager Jerry Smith. “I’m also going to share it within my peer group of HSE professionals, as it is going to prevent a lot of incidents – we just need to get the technology out there.”
The U.S. incurs an annual cost of $249 billion due to alcohol abuse. Nearly half of industrial accidents with injuries are caused by alcohol, and 1 in 10 U.S. commercial drivers test positive for it, the highest rate globally. To address this, SOBRsafe has created a proprietary system for touch-based identity verification, alcohol detection, and cloud-based reporting. This technology can be integrated into various forms, including stationary access control, personal wearables, and telematics.
SOBRsafe’s preventative solution is being used in traditionally reactive industries for commercial fleets, workplaces, alcohol rehab and probation management, and future applications include air and rail transportation and young drivers. The patent-pending alcohol detection helps prevent intoxicated workers from entering the workplace or drivers from operating vehicles. If an offender is detected, an administrator is alerted to take corrective actions. SOBRsafe is dedicated to creating a culture of prevention and support.