Borqs Technologies Forms a Strategic Partnership with SkyCentrics to develop the Next Generation of CTA-2045 Smart Control Products for use by Solar Companies for “Electrification of Everything”
May 23 2022 - 9:00AM
Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”),
a global provider of 5G wireless solutions, Internet of Things
(IoT) solutions, and innovative clean energy, with global
operations in the U.S., India and China, today announced that it
has formed a strategic partnership with SkyCentrics to develop
CTA-2045 ECOPORT products for use by solar companies in the push by
many U.S. city and county governments for the “Electrification of
Everything” programs. The partnership includes joint research &
development, sales and promotion, as well as Borqs’ investment into
SkyCentrics. It will leverage Borqs’ expertise in mobile IoT and 5G
technologies. Borqs has years of manufacturing experiences in
making products in China and outside China, and has manufactured
products for the U.S. mobile operators and Fortune 500 companies.
SkyCentrics is an expert in the CTA-2045 ECOPORT and will be
responsible for the CTA-2045 software, ECOPORT certification and
cloud functionality with its Demand Response Energy & Asset
Management (DREAM) platform.
The products will be used in Borqs solar plus
energy storage systems subsidiary Holu Hou Energy LLC
(HHE). These units will also be used by utility
companies in grid interactive water heater programs in the U.S.
The next generation of CTA-2045 will enhance the
functionality of SkyCentrics’ current mobile connected and Wi-Fi
CTA-2045 ECOPORT devices with further cost reduction, which will
make the CTA-2045 products more popular.
A smart city uses various types of electronic
methods and sensors to collect data to gain insights in the
management and operation of grid loads in order to improve
efficiency and effectiveness. As a start in the development of a
smart city, mobile connected CTA-2045 devices are chosen by utility
companies across the U.S. as the platform for smart management of
water heaters. Currently, all water heaters are ‘dumb,’ controlled
by a thermostat and randomly going on and off. Smart and connected
CTA-2045 controls can optimize the on/off schedule based on each
household’s usage pattern, grid prices and carbon emissions. It is
estimated that the energy savings as well as carbon emission
reduction by CTA-2045 controlled residential water heaters can
produce staggering results, with each one million CTA-2045 equipped
water heaters equating to the removal of 100,000 gasoline powered
cars from the highways.
Early adoption of CTA-2045 EcoPort enabled water
heaters has been underway in low-income multi-family solar and
storage communities in Hawaii. Commercial and residential markets
in buildings and power grid optimization can reach $154 billion by
the year 2026, according to Verified Market Research in their study
“Global Building Automation System Market Size By Technology, By
System, By Application, By Geographic Scope And Forecast (Aug
2020).”
SkyCentrics is working with major commercial
building industrial equipment manufacturers to provide them
retrofit kits that will enable their embedded base of existing
equipment to be retrofit to have a CTA-2045 EcoPort which will
provide an inexpensive way to create the Grid Interactive Efficient
Buildings (GEBs) that were recently promoted by the Biden
administration quoting the “National Roadmap for Grid Interactive
Efficient Buildings” report by The Lawrence Berkeley National Lab
and The Brattle Group.
About SkyCentrics, Inc.
SkyCentrics is the leader in machine learning,
artificial intelligence and CTA-2045 EcoPort connectivity to
appliances and large electrical equipment providing building and
grid optimization. The company provides grid optimization and
Demand Response (DR) services to utilities throughout the United
States, as well as enabling other Demand Response providers and
aggregators to connect to CTA-2045 enabled equipment through its
OpenADR 2.0b cloud, REST API, and Volttron open source building
management system. SkyCentrics also assists major OEMs in enabling
their products to include a CTA-2045 port, increasing the
appliances and equipment that can be orchestrated to save energy,
provide run time analytics and optimize the grid. Building and home
owners get web, mobile and voice controlled apps to monitor and
schedule their electric loads, while utilities and aggregators are
enabled to orchestrate millions of loads to support the grid’s
integration of renewables and mitigation of carbon emissions.
About Borqs Technologies,
Inc.Borqs Technologies is a global leader in software and
products for the IoT, providing customizable, differentiated and
scalable Android-based smart connected devices and cloud service
solutions. Borqs has achieved leadership and customer recognition
as an innovative end-to-end IoT solutions provider leveraging its
strategic chipset partner relationships as well as its broad
software and IP portfolio. Borqs’ unique strengths include its
Android and Android Wear Licenses which enabled the Company to
develop a software IP library covering chipset software, Android
enhancements, domain specific usage and system performance
optimization, suitable for large and low volume customized
products, and is also currently in development of 5G products for
phones and hotspots. The Company acquired controlling shares of the
solar energy storage system entity, Holu Hou Energy LLC, in October
2021.
Forward-Looking Statements and
Additional InformationThis press release may include
“forward-looking statements” that involve risks and uncertainties
that could cause actual results to differ materially from what is
expected. Words such as “forecasts”, “expects”, “believes”,
“anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”,
“might”, “plan”, “possible”, “should”, “estimates” and variations
and similar words and expressions are intended to identify such
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Such forward-looking
statements are based on currently available information and reflect
our management’s current beliefs. Many factors could cause actual
events or results to differ materially from the events and results
discussed in the forward-looking statements may not truly describe
the financial conditions, including the possibility that the
positive financial results from business activities as described
herein may not be reached or at all, and the negative impact of the
COVID-19 pandemic on the Company’s supply chain, revenues and
overall results of operations, so the reader is advised to refer to
the Risk Factors sections of the Company’s filings with the
Securities and Exchange Commission for additional information
identifying important factors that could cause actual results to
differ materially from those anticipated in the forward-looking
statements. Except as expressly required by applicable securities
law, the Company disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Contact:
Sandra DouVice President of Corporate
FinanceBorqs Technologies,
Inc.sandra.dou@borqs.net www.borqs.com
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