Evolv (EVLV) Leads PRISM NextGen Tech and AI Index After Recent Security Patent Approval
Recently, Evolv Technology (EVLV), a pioneering company in AI-based security screening, was granted a significant patent by the United States Patent and Trademark Office (USPTO) for its innovative technology used in its flagship product, Evolv Express®. This cutting-edge system, designed to detect concealed weapons, is an integral part of safety plans in over a thousand locations worldwide, including stadiums, theme parks, schools, and hospitals. Evolv Express screens over one million people daily, with customers tagging an average of more than 500 firearms each day. Evolv is currently leading the PRISM NextGen Tech and AI Index with shares up over 18%.
The patent, titled “Personnel Inspection with Threat Detection and Discrimination” (U.S. Patent No. 11,568,734), was issued last year and is recognized not only in the U.S. but in several other countries. It covers technology that uses radio frequency (RF) electromagnetic data to classify objects as threats or non-threats. This patent strengthens Evolv’s growing portfolio, which includes over 30 issued patents in the U.S. and abroad, along with numerous pending applications.
Michael Ellenbogen, co-founder and Chief Innovation Officer at Evolv Technology, emphasized the significance of this patent, stating, “This technology is fundamental to what makes Evolv Express stand out from other weapons detection systems. Innovation is crucial in advancing the physical security industry, which has seen little change over the past century. We remain committed to developing new solutions to help security professionals and venue operators protect people and places.”
Launched in 2019, Evolv Express employs advanced sensors and AI to accurately identify potential threats while allowing non-threatening items like phones and keys to pass through seamlessly. The system is designed to enhance visitor screening efficiency while reducing congestion and disruption at entry points. When a threat is detected, an image of the individual is displayed on a connected Evolv tablet, highlighting the location of the potential threat with a “Red Box.”
Since its launch, Evolv Express has earned several prestigious accolades, including the U.S. Department of Homeland Security (DHS) SAFETY Act Designation as a Qualified Anti-Terrorism Technology (QATT). It also received the Platinum designation in the Screening Equipment category at Campus Security Today’s Secure Campus Awards, and was named the winner of the 2024 “Best in Sports Technology” and “Best in Fan Experience Technology” by Sports Business Journal.
