- mCloud to connect oil and gas field workers using its
AssetCare™ platform via head-worn, hands-free smart glasses
- Enterprise applications aim to improve the productivity and
efficiency of over 1.4 million field workers operating over 500,000
assets in oil and gas across North
America
- Through a recently announced partnership with Fulcrum
Automation Technologies, mCloud will target initial roll-outs at
oil and gas refineries in Alberta
VANCOUVER, April 4, 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 unveiled plans to connect oil and gas field workers with
real-time access to digital work assistance capabilities using the
Company's AssetCare platform delivered via head-worn, hands-free
smart glasses.
Originally developed to support field workers and maintainers in
mCloud's Smart Buildings and Wind segments, the Company expects to
deliver similar capabilities within its recently announced entry
into Oil and Gas through its newly-signed three-year global
licensing agreement for AssetCare solutions with Fulcrum Automation
Technologies ("Fulcrum"). In the oil and gas industry, mCloud
estimates there are over 1.4 million field workers operating over
500,000 assets across North
America whose roles would benefit from the enhanced
productivity and efficiency that would come with hands-free access
to AssetCare in the field.
As delivered on smart glasses, mCloud's AssetCare platform
enables workers in the field to get access to the right information
at the right time combining the features of an AI-powered digital
assistant with advanced 3D and mixed reality. Real-time digital
work instructions enable workers to get guidance and verification
as they work through complex procedures, ensuring they get jobs
done right the first time. Smart work order management capabilities
ensure workers focus on those field assets in most urgent need of
attention.
In addition, remote assistance, provided through mCloud's
strategic arrangement with Agnity Global, enables workers in the
field to virtually collaborate with experts in the corporate
back-office through a secure, enterprise-grade video and audio
link.
The Company's roll-out of these capabilities includes hardware
partners such as RealWear, who supply mCloud with access to its
HMT-1 industrial head-worn display.
"Our ability to deliver AssetCare on hands-free smart glasses
lets us dramatically improve the productivity and efficiency of
field workers everywhere," said Dr. Barry
Po, mCloud's Chief Product Officer. "All across the oil and
gas value chain, there are opportunities for us to enhance the way
decisions are made in the field."
In the near term, mCloud's partnership with Fulcrum has already
begun to show signs of progress as both companies work together to
target oil and gas refineries across the province of Alberta, Canada with these mobile
capabilities. Further expansion to other oil and gas areas across
North America are in the works and
will be announced later.
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,
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
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An investment in securities of the Company is speculative and
subject to several risks as 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
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any forward-looking information and/or forward-looking statements
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SOURCE Universal-mCloud Corp