Signed LOI to Commence Customer Activities
Immediately
Focus on Major Commercial Complexes,
Malls & "Mega" Hotels Throughout China
SCN Ltd
has Designed and Constructed over 300 Million Sq. Ft.
of Facilities since 1997
VANCOUVER, April 3, 2018 /CNW/ - Universal mCloud Corp.
(TSX-V: MCLD) ("mCloud" or the "Company"), a leading provider of
Artificial Intelligence and Analytics ("AI&A") and
IoT-connected asset care technology, today announced that it has
signed a Letter of Intent ("LOI") for a partnership with SCN Ltd.
("SCN") to provide mCloud's AssetCare™ HVAC Solution throughout the
Chinese market. SCN is one of the top 20 commercial building
contractors in China with a
well-established reputation for its design/construction quality and
innovation in building technology. The initial focus of the
partnership will be on commercial complexes, malls and mega hotels
in the provinces of China. The
first installation/connection of AssetCare™ Solution is expected to
start by mid-year 2018. The LOI is expected be converted to a
Definitive Agreement later this quarter.
Recent studies show that electric rates in China have risen 17.5% over the past ten years
while China's electricity
consumption per capita has more than doubled since 2005. These
trends have led regulatory authorities to put an increased pressure
on energy consumers for more efficient use of electrical energy.
The SCN partnership will offer mCloud's AI&A driven AssetCare™
Solution to optimize and reduce energy consumption across major
Chinese urban centers.
"According to Lawrence Berkeley National Lab 2016 China Energy
Statistics
(https://china.lbl.gov/sites/default/files/misc/ced-9-2017-final.pdf),
buildings consumed approximately 5,000 Tera Watt Hours per Annum of
electricity at a CGAR of 12% at average energy rates of
approximately 0.15 US cents per kWh. This trend is expected to
carry on well beyond 2021," said Russel
McMeekin, President and CEO of mCloud. "The partnership with
SCN will provide mCloud with access to a massive Chinese market
which will stand to benefit tremendously from our proven AI-driven
energy saving solution."
SCN Ltd. are leaders in Green Energy Design and early adopters
of technologies such as BIM (Building Information Model) making
them one of the most recognized companies in the design and
construction of large commercial, retail and hotel complexes with
well over 50 top western corporate brands. SCN has received
multiple prestigious awards in China and holds the highest business rankings
in the People's Republic of
China.
"We expect a great adoption of AssetCare™ HVAC in China via this strategic partnership.
China has one of the largest
footprints of advanced HVAC assets outside the USA, all very readily connectable to the
AssetCare™ Cloud and all served in very dense urban markets,"
continued McMeekin. "The addition of Mr. Yan Zhao for our China expansion strategy and our partnership
SCN Ltd. has us very well positioned for solid incremental growth
in the second half of 2018 and very rapidly expanding in 2019 and
beyond."
The Chairman of SCN Ltd., Mr. Jianzhong
Wang, said, "We selected mCloud as our partner and
AssetCare™ HVAC as our solution for the China market based on their very impressive
references and installed base in the
United States with major banks, retail and hospitality
facilities."
The terms of the agreement will be based on a split of revenues
consistent with mCloud's normal practices but customized for the
local Chinese market. The final details of the terms will be
outlined within the Definitive Agreement.
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 SCN Ltd.
SCN Design & Construction Co.,
Ltd., founded in 1997, is a large decoration enterprise with eleven
major qualifications appraised and decided by the Ministry of
Construction of the People's Republic of China. It is the
first company in China to
establish BIM (building information model), which centralizes the
innovative technologies in construction design and
decoration. The company has been involved in the design and
construction of many international hotel chains including Starwood
Hotels and Resorts, InterContinental Hotel Group, Hilton Hotels,
Sofitel under Accor Group, Grand Hyatt under Hyatt Group and
international high-end brands such as Four Seasons, Shangri-La,
Kempinski and other domestic boutique hotels. They are
strategic partners with the AEON Group of Japan, Hankyu Department Store of Japan, HEIWADO, Japan Isetan Department Store,
Japan IZUMIYA, Hong Kong New World Group, Hong Kong Kerry Group,
Hong Kong Hang Lung Group, Hong Kong Henderson Group, Swedish IKEA,
France Carrefour, Wal-Mart and other world-renowned commercial
companies.
SCN has been awarded a number of accolades including being
ranked the top commercial space professional contractor in 2013 and
2014. They were ranked 13th on China's TOP 100 National Decoration Companies
in 2016 and have been named the "Shenzhen Well-Known Brand" and the
"Building Decoration Leading Enterprise". They are
consistently recognized for the quality of their construction, and
were awarded the "Luban Award" in 2016 and 2017 for a number of
their projects.
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SOURCE Universal-mCloud Corp