Universal mCloud Connects Shopping Centers, Wind Turbines, Oil and
Gas Assets Worldwide
- mCloud establishes AssetCare™ connectivity to Heiwado Shopping
Center in China, the first in a journey to connect over 1,000
malls with partner SCN
- In parallel, mCloud's Wind team is moving forward on two wind
projects using AssetCare analytics in
continental Europe and China
- Newly-announced partnership with Fulcrum Automation
Technologies is set to target an initial 200 oil and gas assets
in North America and the Middle East
VANCOUVER, BC, Canada -- April 10, 2019 -- InvestorsHub NewsWire
-- Universal mCloud Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the
"Company"), a leading provider of asset management solutions
combining IoT, cloud computing, artificial intelligence ("AI"), and
analytics, today provided an update on the progress being made
across all of its business segments, highlighting numerous advances
in executing its business plan around the world:
Smart Buildings: First shopping center connected to
AssetCare in expansion effort to over 1,000 malls
across China
Within mCloud's Smart Buildings segment, the Company announced
that AssetCare connectivity has been established for the Heiwado
Shopping Center in Changsha, Hunan Province, China.
This marks a major milestone in the implementation of a nine-year
shopping center contract originally announced on January
2019 with partner SCN Ltd. ("SCN").
With mCloud's AssetCare solution, the Company will begin
continuous management of the store's HVAC systems using AI and
analytics – delivering ongoing energy savings, curbing the costly
41% of energy currently used by Heiwado at this mall for heating
and cooling.
The Heiwado Shopping Center represents the first in an expansion
effort with SCN to take AssetCare to over 1,000 shopping centers
across Greater China, representing a portfolio of over 40,000
connectable assets.
Wind: mCloud moving forward with delivering AssetCare
analytics for two wind projects this month
On the back of mCloud's recently announced strategic
collaboration with Britwind, an affiliate of UK's Ecotricity,
in March 2019, mCloud's Wind team is applying AssetCare
analytics to improve wind turbine availability and extend the
health of wind turbines associated with two wind projects, one
based in continental Europe and another based
in China.
In addition to the over 1,000 Endurance E-series wind turbines
positioned for upgrades between mCloud and Britwind, these projects
represent additional opportunities for mCloud to access a further
90,000 wind turbines as connected assets.
Oil and Gas: mCloud and Fulcrum Automation Technologies
plan initial roll-out targeting 200 assets across North
America and the Middle East
Related to the Company's February 2019 announcement of
a US$15M global service agreement with Fulcrum Automation
Technologies ("Fulcrum"), mCloud and Fulcrum are jointly working on
a plan to target at least 200 oil and gas assets as part of a
greater strategy to access thousands of field assets in North
America and the Middle East.
Using the Company's AssetCare platform, mCloud and Fulcrum will
apply AI and analytics to a variety of maintenance and inspection
applications that support these assets, from monitoring fugitive
emissions to assisting field workers in field repair and overhaul
activities.
"Getting AssetCare connected to a multitude of assets across all
segments of our business is a remarkable start to 2019,"
said Russ McMeekin, mCloud's President and CEO. "We look
forward to making even more progress over the course of this year
as we incorporate more into AssetCare."
As announced on March 28, 2019, mCloud will hold an
earnings call to discuss 2018 performance and provide
forward-looking insight on April 24, 2019. Conference details
will be provided at a later date.
About Universal mCloud Corp.
Universal 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. Headquartered in Vancouver, Canada, with
technology and operations centers in San Francisco,
CA and Bristol, PA, mCloud takes advantage of IoT sensors
to bring data from connected assets into the cloud, applying AI and
analytics to maximize their health and performance. Today, mCloud
offers complete asset management solutions to four distinct
segments: smart buildings, wind energy, utilities, and oil and gas.
With over 100 blue chip customers and more than 28,000 assets
connected in thousands of locations worldwide, mCloud is changing
the way energy assets are managed. 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 harbor
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".
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" on pages 29 to 46 of the Company's filing statement
dated October 5, 2017. 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, and the Company does not undertake to update
any forward-looking information and/or forward-looking statements
that are contained or referenced herein, except in accordance with
applicable securities laws. All subsequent written and oral
forward- looking information and statements attributable to the
Company or persons acting on its behalf is expressly qualified in
its entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Universal-mCloud Corp
For further information:
Craig MacPhail, NATIONAL Capital Markets, T: 416-586-1938, cmacphail@national.ca;
Russ McMeekin, Chief Executive Officer, Universal mCloud Corp., T:
415-635-3500
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