VANCOUVER, April 28, 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 had grown its total count
of connected assets to 48,672, showing an approximate 18% increase
in assets under management quarter-over-quarter since Q4 2019.
This growth builds on the Company's announcement on March 24, 2020 that mCloud had connected over
41,000 at year-end 2019. mCloud has responded to rapidly changing
market conditions, including targeted marketing and business
development efforts to help businesses impacted by the current
COVID-19 pandemic become "digitally resilient" through the remote
connectivity offered by the Company's AssetCare™ platform.
The Company deploys IoT and AI solution to help restaurant
and retail businesses get back to work
mCloud also announced today it is collaborating with industry
leaders and medical experts to launch an extension to its AssetCare
for Connected Buildings solution segment, using IoT and AI to help
restaurant owners and retail businesses return to work quickly and
safely as governments and health officials globally respond to the
current COVID-19 pandemic.
This AssetCare solution is an "all-in-one" offering powered by
the Company's IoT and AI capabilities:
- Indoor air quality sensors and smart thermostats driving clean
air inside buildings to mitigate the risk of infection from
airborne volatile organic compounds (VOCs)
- Refrigeration sensors monitoring food safety and protecting
inventories from spoilage through automatic compliance with HAACP
food safety programs
- Local area occupancy sensors measuring building capacity and
automatically verifying businesses comply with local social
distancing guidelines where they operate
As with all AssetCare building solutions, mCloud will use these
and other technologies to help retail and restaurant facility
managers become more energy efficient and sustainable, backed by a
global team of retail building experts and 24/7 live operations
support.
"mCloud is proud to be helping restaurant and retail owners that
have been especially hard hit by COVID-19," said Dr. Barry Po, mCloud's President, Connected
Solutions and Chief Marketing Officer. "Since the middle of March,
we have helped owners and operators at 15 restaurant and retail
brands put numerous closed locations into energy hibernation across
Canada and the United States, helping them curb their
energy costs by up to 50%."
"We now want to use our AI and IoT capabilities to help retail
and restaurant owners get back to work as quickly as possible,
helping them ensure they comply with their local guidelines and
assure their customers that their establishments are safe to be in
when they are permitted to open their businesses again," Po added.
"This AssetCare package is a great example of how IoT and AI can be
used to make businesses resilient to the unexpected."
Businesses interested in this AssetCare solution package are
encouraged to visit www.mcloudcorp.com/backtobusiness for more
information.
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
plans to offer an AssetCare solution package.
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.