- Universal mCloud unveils plan to launch new AI-powered
energy saving features as part of its AssetCare™ offering for Smart
Buildings
- New AI capabilities will set mCloud apart in making
energy-intensive buildings such as quick serve restaurants and
retail spaces energy smart
- First mCloud customers employing new AI capabilities
targeted for Q2 2019
VANCOUVER, March 12, 2019 /CNW/ - Universal mCloud Corp.
(TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"), a leading
provider of asset management solutions combining IoT, cloud
computing, artificial intelligence ("AI"), and analytics, today
announced plans to launch new industry-leading energy savings
technology for its Smart Buildings segment through mCloud's
flagship AssetCare platform. This technology, using proprietary AI
capabilities, targets up to 20% reductions in wasted energy in
commercial buildings.
The US Department of Energy reports approximately 30% of the
energy consumed by commercial buildings goes to waste, totaling an
estimated US$57 billion in
unnecessary energy costs annually. As highlighted in an ARC
Advisory research note about mCloud (September, 2018), restaurants
and retail spaces are regarded as especially energy-intensive.
mCloud's AssetCare solution offers an innovative zero-upfront
subscription model that creates operational savings to the customer
while simultaneously creating a highly scalable recurring revenue
stream for mCloud.
These new AI features enhance mCloud's ability to save energy in
commercial buildings. By analyzing numerous data sources such as
space temperatures, outdoor weather, expected occupancy, and HVAC
unit efficiency, the technology continuously pinpoints where a
building's energy is being wasted. These data are integrated into a
real-time intelligence model that enables AssetCare to make
decisions about how to best respond moment-to-moment to changing
comfort conditions in a building, improving comfort while
simultaneously curbing unnecessary energy use. This enables mCloud
to seek energy savings that go beyond basic set point management
and pre-set occupancy schedules.
"Our team at mCloud is excited about having the opportunity to
apply the latest advances in AI and machine learning to make
buildings smart," said Dr. Barry Po,
mCloud's Chief Product Officer. "Through the use of AI, we believe
it's possible to create opportunities to make every building more
sustainable."
These new AI-powered features are expected to go live to all
current and new AssetCare for Smart Buildings customers later this
year. In advance of a global launch, mCloud plans to invite select
customers to be part of an early access program enabling the use of
these features in Q2 2019. Interested customers are encouraged to
contact us for more information.
About Universal mCloud Corp.
Universal mCloud is creating a more efficient future with the
use of AI and analytics, curbing energy waste, maximizing energy
production, and getting the most out of critical energy
infrastructure. Headquartered in Vancouver, Canada, with technology and
operations centers in San Francisco,
CA and Bristol, PA, mCloud
takes advantage of IoT sensors to bring data from connected assets
into the cloud, applying AI and analytics to maximize their health
and performance. Today, mCloud offers complete asset management
solutions to four distinct segments: smart buildings, wind energy,
power utilities, and oil and gas. With over 100 blue chip customers
and more than 28,000 assets connected in thousands of locations
worldwide, mCloud is changing the way energy assets are managed.
For more information, visit www.mcloudcorp.com.
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".
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.
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