Knightscope (NASDAQ:KSCP) stock is on the move Monday following news that the company signed onto a new development project.
According to a press release, Knightscope will be assisting a commercial real estate developer headquartered in Denver, Colo. The company provides automated security to areas with its robots.
Knightscope notes that this new contract will have it assisting in the security of “advanced live/work/play communities.” This location will house some 7,500 permanent residents and will accommodate over 30,000 additional daytime workers.
Here’s a quick description of the project provided by Knightscope.
“This urban center development will contain 38 high-rise towers with over 10 million square feet of technologically advanced residential, retail, office, hotel/convention center, and entertainment space, along with over 2.5 million square feet of innovative parking facilities integrated with multi-modal transportation alternatives.”
Knightscope also notes that the area is going to be fully powered by solar energy thanks to a nearby farm. Other efforts are also being made to ensure the area is environmentally friendly while still offering state-of-the-art technology.
Knightscope doesn’t say who it’s working with on this project. However, it does note that the facility will be located at the “foot of the 14,000-foot peaks of the majestic Colorado Rockies.”
KSCP stock seeing extra trading activity on today’s news. As a result, some 16 million shares of the company’s stock have changed hands. That’s quite the increase over the company’s daily average trading volume of about 8.5 million shares.
KSCP stock is up 11.8% as of Monday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.