Company to embed NYCE Sensors and deliver
AI-powered building
solutions that enhance the health and safety of building
occupants
VANCOUVER, March 16, 2020 /CNW/ - mCloud Technologies
Corp. (TSX-V: MCLD, MCLD.DB) (OTCQB: MCLDF) ("mCloud" or the
"Company"), a leading provider of asset management solutions
combining IoT, cloud computing, artificial intelligence ("AI"), and
analytics, today announced it is embedding advanced sensing
technology from NYCE Sensors Inc. ("NYCE"), an industry-leading
provider of IoT solutions for commercial building applications,
into its AssetCare™ solutions for Smart Facilities.
mCloud has combined NYCE's wireless CO2 sensors for air duct
management, building occupancy, and air quality measurement with
the AI and analytics provided by AssetCare. Through this combined
capability, the Company enables buildings occupied by foodservice
operators, facility managers, and commercial property owners to
benefit from value beyond baseline energy efficiency by keeping
tenants, staff, and customers healthy and safe through the
intelligent optimization of building airflow and ventilation.
"Recent scientific research has shown that proper ventilation
and airflow can play an important role in reducing the spread of
airborne contaminants and pathogens," said Barry Po, Ph.D., mCloud's President, Smart
Facilities. "Today we are tracking CO2 levels and air quality in
over 3,000 buildings, continuously improving our AI to make
real-time decisions about how to optimize HVAC runtime, improve
building comfort, and ensure building occupants avoid the impact of
sick building syndrome."
"Based on the demand we are seeing from our existing customers
for solutions that improve building safety, we expect this
integration of NYCE technology to expand our capacity to connect to
even more assets per building, with higher monthly recurring
revenue per connected HVAC unit," Po added. "Our 2020 plan
originally saw us connecting at least 28,000 new assets in
thousands of buildings across six countries through energy savings
alone, and the addition of digital air quality capabilities will
enable us to drive that growth even further."
The Center for Sustainable Systems at the University of Michigan estimates there are at least
5.6 million commercial buildings covering more than 87 billion
square feet of floor space in the United
States alone, accounting for 17% of all CO2 greenhouse gas
emissions nationwide in 2018. In addition, they estimated that
Volatile Organic Compounds (VOCs) are found in concentrations two
to five times greater indoors than in nature, leading to indoor air
quality issues that include eye, nose, and throat irritation,
headaches and nausea, and even extreme effects such as cancer or
nervous system damage.
For more information, the University of
Michigan Commercial Buildings Fact Sheet can be found at:
http://css.umich.edu/factsheets/commercial-buildings-factsheet.
About mCloud Technologies Corp.
mCloud is creating a more efficient future with the use of AI
and analytics, curbing energy waste, maximizing energy production,
and getting the most out of critical energy infrastructure. Through
mCloud's AI-powered AssetCare™ platform, mCloud offers complete
asset management solutions to three distinct segments: smart
facilities, power generation, and process industries including oil
and gas. IoT sensors bring data from connected assets into the
cloud, where AI and analytics are applied to maximize their
performance.
Headquartered in Vancouver,
Canada with offices in twelve locations worldwide, the
mCloud family includes an ecosystem of operating subsidiaries that
deliver high-performance IoT, AI, 3D, and mobile capabilities to
customers, all integrated into AssetCare. With over 100 blue-chip
customers and more than 41,000 assets connected in thousands of
locations worldwide, mCloud is changing the way energy assets are
managed.
mCloud's common shares trade on the TSX Venture Exchange under
the symbol MCLD and on the OTCQB under the symbol MCLDF. mCloud's
convertible debentures trade on the TSX Venture Exchange under the
symbol MCLD.DB. For more information, visit www.mcloudcorp.com.
Forward-Looking Information and Statements
This press release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation and may also contain statements that may constitute
"forward-looking statements" within the meaning of the safe harbour
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Such forward-looking information and forward-looking
statements are not representative of historical facts or
information or current condition but instead represent only the
Company's beliefs regarding future events, plans or objectives,
many of which, by their nature, are inherently uncertain and
outside of the Company's control. Generally, such forward-looking
information or forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or may contain statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "will
continue", "will occur" or "will be achieved". The forward-looking
information contained in this press release includes the Company's
expectations around new connected assets in buildings worldwide and
additional monthly recurring revenue per connected asset from the
addition of NYCE sensors.
By identifying such information and statements in this manner,
the Company is alerting the reader that such information and
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements.
An investment in securities of the Company is speculative and
subject to several risks, as discussed under the heading "Risk
Factors" in the Company's annual information form dated
October 31, 2019. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
the forward-looking information and forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended.
In connection with the forward-looking information and
forward-looking statements contained in this press release, the
Company has made certain assumptions. Although the Company believes
that the assumptions and factors used in preparing, and the
expectations contained in, the forward-looking information and
statements are reasonable, undue reliance should not be placed on
such information and statements, and no assurance or guarantee can
be given that such forward-looking information and statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information and
statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
SOURCE mCloud Technologies Corp.