Velociti, a provider of technology deployment, maintenance and integration solutions, and CATrak Technologies have developed a device that fleets can use to combat the increasingly prevalent threat of catalytic converter theft.
According to the National Insurance Crime Bureau, catalytic converter thefts increased from 16,600 claims in 2020 to 64,701 claims in 2022 while a study conducted by Carfax estimates that as many as 153,000 vehicles had the part stolen in 2022.
"At Velociti, we believe that the right technology, when applied strategically, can bring about transformative solutions," said Deryk Powell, president of Velociti. "Teaming up with CATrak aligns with our commitment to deliver tailored, effective solutions for our clients. By addressing the growing problem of catalytic converter theft, we are joining forces to help fleets ensure maximum uptime and utilization and safeguard their bottom line.”
Now available for purchase and installation, the CATrak device immediately alerts owners, managers, security personnel, and law enforcement to catalytic converter theft attempts.
Mark Richardi, CEO of CATrak, also expressed enthusiasm about the collaboration. "CATrak's mission has always been to provide solutions that actively deter and counter theft,” he said. “Partnering with Velociti allows us to deploy our technology more efficiently and effectively and amplify its impact so we can make a substantial difference in tackling catalytic converter theft."