Quantela to Roll Out Smart City Services in the Opportunity Zones of the City of Erie, PA

/ -- Quantela Inc., in collaboration with Erie Innovation District today announced the roll-out of the second phase of Secure Smart City project. The project follows the successful deployment of the pilot project that was implemented on State Street, between 6th and 12th streets in July 2018 and delivered the use cases of smart LED Street Lighting, City Wi-Fi Services and Urban Security around Perry Square.

The second phase of the Secure Smart City project will be implemented by Quantela in the Opportunity Zones of Erie using a Consumption-Based Equity Financing Model supported by Digital Alpha Advisors LLC, a private equity company focused on financing urban innovation projects. This unique, market-disrupting model of project financing helps Cities jump-start their Smart City projects with minimum upfront capital investment and also share in the incremental revenue upside coming from data monetization opportunities. The project scope will involve the installation and operations of Quantela's Atlantis Intelligence Platform with City Wi-Fi Services initially in a 4.54 road mile area of the Opportunity Zones in Erie and then scale gradually to include all of the Opportunity Zones as well as the City.

"Cities worldwide are harnessing the power of technology to reduce traffic congestion, bridge the digital divide, enhance connectivity, promote economic development, fight crime and make local governments more sustainable and resilient," said Mayor Schember. "We are excited to partner with Quantela and Digital Alpha to execute this ambitious project and what it can mean for Erie's growth as a center of innovation."
Commenting on the project announcement, Digital Alpha Managing Partner Rick Shrotri said, "We are extremely pleased to work with Quantela, the City of Erie and the Innovation District to make this breakthrough equity investment based on the Consumption Model. This will be among the first projects in the US to use risk capital to finance the digital transformation of urban infrastructure projects in a true partnership, as Digital Alpha enables an outcome-based financing structure for municipalities. Following the successful execution of this project, we expect to make further investments with Quantela from a $100M commitment of equity financing from Digital Alpha's Limited Partners for Smart City projects across the US and globally."
Quantela is a leading player in providing the digital platform 'Atlantis' for automating and optimizing urban infrastructure operations. Headquartered in the USA, with a presence in Europe and Asia, Quantela is addressing the global smart cities and communities' market. Quantela, in partnership with Digital Alpha Advisors, is disrupting the model of financing smart city projects that help Cities digitize their urban infrastructure operations thereby discovering new revenue streams as well as reduce their cost of delivery of City services. http://www.quantela.com