Hires Senior Executive to Accelerate
Connected Assets Growth Focused on:
Expanding into Greater China which Represents the World's
Largest Regulated Global Wind Energy Market
Blockchain Technology to Enhance the Energy
Data Architecture for Highly Regulated Utility Markets
VANCOUVER, Jan. 24, 2018 /CNW/ - Universal mCloud Corp.
(TSX-V: MCLD) ("mCloud" or the "Company"), a leading provider of
Artificial Intelligence ("AI"), Augmented Reality ("AR") and
IoT-Connected Asset-Care technology solutions, today announced that
it has hired Yan Zhao as President,
Greater China to lead both the
Company's strategic initiatives in China, as well as oversee the rollout of the
Company's blockchain technology designed to enhance energy data
architecture in highly regulated utility markets. Given his
experience and deep knowledge of both the utilities space and
global financial markets, Mr. Zhao ("Yan") will provide much needed
guidance in defining how blockchain technology will be incorporated
in to mCloud's AssetCare™ platform at the energy metering data
level where critical data is exchanged within the defined
market.
mCloud President, Russ McMeekin
says, "We are very pleased to have Yan join our team to lead us
into China, the world's largest
wind energy market, and to deploy blockchain technology within our
AssetCare™ environment, initially for wind energy, where critical
data of real time energy production requires the highest standards
of data integrity." According to the Global Wind Energy Council
(GWEC), China continues to lead
the market for wind energy . With wind capacity of 168.7
GW at the end of 2016, China held
a market share in new deployments of over 42 percent. China's
commitment to renewables, with a focus on wind, is showing no signs
slowing down with a goal of having 20 percent of its energy needs
being met with clean energy by 2030 and pledging to invest
US$367 billion in renewables by 2020.
Sector consultants, Wood Mackenzie further predicts that
China will average over 25 GW of
new wind capacity annually for the next decade (Source:
Global Wind Energy Council (Source:
http://gwec.net/a-revealing-look-at-winds-big-markets-and-emerging-challenges/).
"We've recently announced a number of game changing acquisitions
that greatly enhance our core AssetCare™ Wind technology for
ultra-precise wind turbine analytics. Embedding blockchain
functionality combined with Yan's leadership and deep sector
expertise represents the next logical step in our plans," continued
Mr. McMeekin.
Mr. Zhao is a former CFO and Director of TSXV-listed Changfeng
Energy Inc. Prior to joining Changfeng, Mr. Zhao was the
Manager, Financial Reporting, of KEYreit, a TSX listed real-estate
investment trust ("REIT"). Prior to his employment at
KEYreit, Mr. Zhao spent seven years in industry and with accounting
firms where he held various senior positions. Mr. Zhao began his
career with PricewaterhouseCoopers and received his designation as
a Chartered Professional Accountant from the Ontario Institute of
Chartered Accountants in 2009. He also holds a Masters of Business
Administration from McMaster University
and he has extensive energy utility and Chinese energy policy
experience.
According to Mr. Zhao, "I have been evaluating mCloud's
technology position since late 2017. I have the benefit of
numerous connections in the Chinese utility market and have
conducted several customer needs assessments and market assessments
with a very specific focus on wind energy. Wind energy, IoT,
AI and blockchain are strategic initiatives for China right now. In fact, several of
these initiatives are part of the Chinese Government's 13 Year
Plans and Policies. The feedback on mCloud's market readiness is
excellent and I am very excited to be joining the mCloud team. I
believe now is the perfect time to begin executing on these
initiatives within the Chinese marketplace."
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.
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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