-Norwin Founder, Ole Sangill, Joins mCloud
to Lead AssetCareTM Wind Team-
-Norwin
IP Already Licensed in over 600 Turbine Installations
Worldwide-
VANCOUVER, Dec. 11, 2017 /CNW/ - Universal mCloud Corp.
(TSX-V: MCLD) ("mCloud" or the "Company"), a leading provider of
Internet Of Things ("IoT")-connected asset care technology
solutions, today announced that it has acquired joint technology
rights for the Norwin 225 kW Wind Turbine in an all equity deal.
The Company is also pleased to also announce that Norwin's
founder, Ole Sangill, will be joining its team to lead the
expansion of AssetCareTM Wind. Ole joins mCloud's
existing team of wind turbine experts and will help fulfill
mCloud's mission of bringing together people, data and knowledge to
improve the health and performance of existing wind turbine
technology.
Russel McMeekin, President and
CEO of mCloud said, "Wind turbines represent one of several key
mission critical assets that fit very well into the mCloud
platform. We go beyond asset monitoring to provide a complete,
fully functional, secure mobile solution that leverages cloud
technology and embedded IoT devices to fulfill the
Asset‐Circle‐of‐CareTM. I've known and worked with
Ole for many years. He brings with him deep wind industry expertise
that will solidly guide our wind strategy, and we expect that
AssetCareTM Wind turbine connected assets will generate
meaningful monthly recurring revenue contribution for mCloud in
2018 and beyond. Ole and his team will be working hard to introduce
new technological advancements that we believe will be game
changing in the wind industry."
According to the Global Wind Energy Counsel ("GWEC"), in 2016,
there was approximately 487 Giga Watts of Wind Energy produced
world-wide, with China having the
largest installed base of wind turbines and contributing the most
to global wind energy growth. Significant global expansion is
expected in the wind energy sector through 2020.
The leading wind turbine manufacturers are integrating smart
technologies in their latest products. However, the many thousands
of existing wind turbines have limited optimization, operation, and
monitoring capabilities, which can be improved with low cost IoT
and next generation Artificial Intelligence ("AI") and 3D
technologies. Also, service and maintenance that is today
largely a manual, paper-based process, can be significantly
enhanced. Norwin's IP for wind turbines forms the basis of
mCloud's AssetCareTM Wind Analytics, and has been
licensed in over 600 installations worldwide.
AssetCareTM Wind enables and provides an improved level
of optimization and an increase in energy production from existing
wind turbines, estimated to be in the range of 1% to 3% per year.
To put this in perspective, the impact of just 1% increase in
the world's wind energy production is equivalent to installing more
than 1000 new 5MW wind turbines.
mCloud is bringing together technologies such as IoT, cloud
computing, secure mobility, analytics, as well as 3D and augmented
reality, with a central focus on critical energy generating assets
including wind turbines. Furthermore, mCloud directly supports
field service workers helping them do their jobs faster, more
safely and more effectively. This results in wind turbines
running more optimally with minimum downtime. Maximizing kW
produced per wind turbine and minimizing green‐house gases are
targeted key metrics in the mCloud dashboard.
"I am excited to be joining mCloud and to be working with people
that have years of experience in asset care cloud solutions as we
bring the full breadth of this technology into the wind space,"
said Mr. Sangill. "I have been in the wind industry for more
than 25 years and I have experienced its fast technical and
commercial development. Despite being a lead renewable
technology, the wind industry is still maturing, and mCloud will
bring its unique solutions that incorporate the latest technologies
to help advance the industry."
This transaction is subject to the approval of TSX Venture
Exchange.
About Universal mCloud Corp.
Universal-mCloud Corp. ("mCloud") is headquartered in
Vancouver, BC with technology and
operations centers in San Francisco,
CA and Bristol, PA. mCloud
is an IoT connected asset care cloud solution company utilizing
connected IoT devices, leading deep energy analytics, secure mobile
and 3D technologies that rally all asset stakeholders around an
Asset-Circle-of-Care™, providing complete real‐time and historical
data coupled with guidance and advice based on deep analytics and
diagnostics resulting in optimal performance and care of critical
equipment. It's all about the asset. The powerful and secure
AssetCare™ environment is accessible everywhere, 24/7
through standard mobile devices, ruggedized headsets, and web
browsers. For more information, visit www.mCloudCorp.com.
About Norwin Energy
Norwin Energy ("NE") is a Danish company based on 25 years of
Norwin history designing complete own wind turbines in the mid-size
range for licensing to partners globally. More than 600 turbines in
the 225 kW and 750 kW sizes have been installed worldwide, most
notably the 240 m skyscraper Bahrain
World Trade Center install, a worlds first successful integration
of commercial size wind turbines in buildings. The latest 225 kW
product was brought to a new technical and competitive "return on
investment" level by combining a modular design with requirement to
fit the turbine into containers for low cost shipment, and by using
the latest rotor and inverter optimization. Design, advanced
control, aerodynamic and load optimization are core competencies of
NE. For more information, visit www.norwinenergy.com.
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SOURCE Universal-mCloud Corp