- Signed LOI for joint project with SCN for
AssetCareTM HVAC at Heiwado
Shopping Center in Changsha
- Signed MOU with Wuhan
City, Qingshan District government to promote mCloud technology as
part of their overall green city initiatives
VANCOUVER, Aug. 29, 2018 /CNW/ - Universal mCloud Corp.
(TSX-V: MCLD) (OTCQB: MCLDF) ("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 agreements in direct support of its initiative to enter into
the China market. These agreements
support mCloud's Smart Building and Smart Wind businesses, as well
as its desire to establish a Center of Excellence to directly
support Chinese customers.
mCloud is pleased to announce the signing of a LOI with Heiwado
to implement AssetCareTM HVAC at one of its Shopping
Centers in Changsha, Hunan Province, China. Heiwado is a Japanese department store
operator and strategic partner of SCN Ltd. ("SCN"). As announced in
mCloud's April 3, 2018 press release,
mCloud is partnering with SCN to bring its Smart Buildings HVAC
solutions to China. SCN is one of
the top 20 commercial building contractors in China with a well-established reputation for
its high-quality design and construction work and innovative
building technology. SCN has received multiple prestigious awards
in China and holds the highest
business ranking in the People's Republic
of China.
mCloud further established its presence in China with the signing of a MOU with
Wuhan City, Qingshan District.
This agreement will focus on promoting mCloud as part of
Wuhan's green city initiatives.
mCloud views Wuhan City as an
optimal location for a future Chinese Center of Excellence, where
it will ultimately provide direct support to its Chinese customers.
Wuhan City is home to one of
China's leading technical
universities and boasts China's
largest student population with over 1.4M students. As part of its green cities
initiatives, mCloud is proposing a Smart Building demonstration
project in Wuhan to showcase the
future of AI&A as it applies to Smart Buildings in China.
Recent studies show that electric rates in China have risen 17.5% over the past ten
years, and at the same time, China's electricity consumption per capita has
more than doubled since 2005. Wuhan City is leading China in technology adoption aimed at
transforming it into an advanced modern clean city environment. In
2016, Wuhan won the "2015 Chinese
Sustainable Development City Award" of the United Nations
Development Program. The award considers low input, high output,
strong environmental protection and small influence on environment
as guiding criteria.
"We are pleased to be executing on our China market expansion initiative with the
signing of these strategic agreements," said Russel McMeekin, President and CEO of mCloud.
"We will continue to explore the range of diverse opportunities in
this massive Chinese market, where companies and cities are seeking
proven AI-driven energy saving solutions."
About 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. was founded in 1997 and
with registered capital of RMB
101million. SCN is a large decoration enterprise with
eleven major qualifications appraised and decided by the Ministry
of Construction of the People's Republic
of China, i.e. Grade A of Architectural Decoration
Engineering Design, Building Curtain Wall Design, Architectural
Decoration Engineering Professional Contractor, Building Curtain
Wall Engineering Contractor, Construction Electrical Installation
Engineering Professional Contractor, Exhibition Engineering Design
and Construction Integration, Exhibition Engineering Enterprise;
And with Class 2 qualification for Electronic and Intelligent
Engineering Contractors, Steel Structure Engineering Professional
Contractor. It passed the ISO9001 quality management system,
ISO14001 environmental management system, GB/T28001 occupational
health and safety management system certification. It is an
AAA-grade integrity enterprise and bank credit AAA-level enterprise
in the credit evaluation of the nation's architectural decoration
industry. It is the compilation unit for several industry standards
such as China's "Shopping Mall
Building and Management Technical Specifications," "Green Building
Interior Decoration Standards," and "Building Decoration
Engineering BIM Implementation Standards." It is the first company
in China to establish BIM
(building information model), which centralizes the innovative
technologies in design and decoration industry.
SCN has achieved excellent results in high-end commercial
complexes and general contracting of international brand hotels for
more than 20 years by stand behind of its promises and goals in
performance, perfect design, superb construction and scientific
management. In the consecutive years of 2013 and 2014, it was
ranked first in China's commercial
space professional contracting and ranked the 13th in China of TOP 100 National Decoration Companies
in 2016. It was awarded the "Shenzhen Well-known Brand" and the
"Building Decoration Leading Enterprise" and other national awards.
The hotel, commerce, office, hospital, and airport segmentation and
decoration markets ranked the top 20 in China. SCN is the strategic partners of 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. More than 50
commercial department store projects of Hong Kong New World Group
in Mainland China and all shopping centers in HEIWADO in
China are designed and constructed
by SCN Decorations. SCN has also contracted and completed a
series of large-scale domestic commercial complex projects such as
Haiko Duty Free Mission Hills International Shopping Center,
Chongqing Zhongdu Metropolitan Plaza, China Resources Vientiane
World, Beijing, and Chengdu Longhu
Tianjie. Especially, Haiko Duty Free Mission Hills
International Shopping Mall is a general contracting project
designed with construction projects.
The contract value of the project is nearly 350 million yuan.
SCN results also include the design and construction of
international top brand hotels and domestic boutique five-star
hotels, achieving remarkable results. Including Starwood
International Hotels Group's St.
Regis, W Hotels, Westin, Sheraton, Le Méridien; Marriott
International, Marriott; InterContinental Group's Intercontinental,
Crowne Plaza; Hilton International Hotels Group's Hilton,
DoubleTree by Hilton; Sofitel under Accor Group; Grand Hyatt under
the Hyatt Group; International high-end brand hotels such as Four
Seasons, Shangri-La, Kempinski, Perry and Jinling Hotels, Rieter,
Huatian, Nanyuan Global , Grand Sky and other domestic boutique
hotels. Among them, Shenzhen Four Seasons Hotel Decoration General
Contracting Project has created Four Seasons Hotel's record of "the
fastest construction speed and the best construction quality" in
the Mainland of China and has
received unanimous praise from the owners and hotel management
companies. Those projects such as Nanjing Jinling Hotel and
Grand Hyatt Sanya Haitang Bay Hotel and were awarded the
"Luban Award" in the highest prize for the national architecture in
2016 and 2017.
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". The forward-looking
information contained herein may include, but is not limited to,
information concerning the Company's ability to save customer
budget costs, the ability to roll out the damage assessment
technology in a timely manner, the ability to expand the asset base
of the Company, the future business prospects and the potential
revenue of the Company.
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 a number of risks including, without limitation, the
risks 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