VANCOUVER, BC, June 24, 2020 /CNW/ - mCloud Technologies
Corp. (TSXV: 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 it had signed a mutual reseller and a
global service agreement with nybl, an innovative technology
company delivering AI solutions to industries that include process
industries such as oil and gas.
Included in this agreement is cooperation with nybl to deliver a
joint solution that will connect and optimize an initial 2,000 oil
wells in North America and
Kuwait. Cooperation on this
solution is now underway.
mCloud and nybl have partnered to deliver complete asset
optimization solutions to oil and gas operators worldwide,
initially targeting over one million oil and gas wells employing
artificial lift technology such as Electric Submersible Pumps, or
ESPs, and plunger lifts in Western
Canada, the United States,
and the Middle East. nybl's
lift.ai™ and mCloud's AssetCare™ platform will together provide oil
and gas well operators with an integrated capability that uses AI
to eliminate unplanned outages and continuously monitor the lift
equipment at every connected well.
Through the arrangement, mCloud will have the exclusive
licensing rights to nybl's lift.ai™ technology in North America, where these capabilities will
become part of the Company's AssetCare solution suite for Connected
Industry. In addition, nybl will package and sell AssetCare to its
customers, primarily in the Middle
East, as a complement to its current offerings.
"By combining forces, mCloud and nybl will be able to assist oil
and gas customers all around the world," said Noor Alnahas, CEO of nybl. "Our joint solution
will enable operators to see benefits in excess of US$200,000 per connected well annually."
"We could not be more excited about teaming with nybl to further
enhance the AI capabilities we bring to new and existing AssetCare
customers," said Costantino Lanza,
mCloud's Chief Growth and Revenue Officer. "Our companies
complement each other on all fronts, and our teams are already
engaging with additional customers to bring our joint capabilities
to specifically targeted oil wells all across North America, with connections to commence in
the second half of 2020."
About mCloud Technologies Corp.
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. Through
mCloud's AI-powered AssetCare™ platform, mCloud offers complete
asset management solutions in five distinct segments: commercial
buildings, renewable energy, healthcare, heavy industry, and
connected workers. IoT sensors bring data from connected assets
into the cloud, where AI and analytics are applied to maximize
their performance.
Headquartered in Vancouver,
Canada with offices in twelve locations worldwide, the
mCloud family includes an ecosystem of operating subsidiaries that
deliver high-performance IoT, AI, 3D, and mobile capabilities to
customers, all integrated into AssetCare. With over 100 blue-chip
customers and more than 48,000 assets connected in thousands of
locations worldwide, mCloud is changing the way energy assets are
managed.
mCloud's common shares trade on the TSX Venture Exchange under
the symbol MCLD and on the OTCQB under the symbol MCLDF. mCloud's
convertible debentures trade on the TSX Venture Exchange under the
symbol MCLD.DB. For more information, visit www.mcloudcorp.com.
About nybl
nybl is a technology development house driving digital
transformation using machine learning to deliver real-time failure
prediction, prescription, prevention, and optimization solutions
that increase efficiency and reduce cost in any industry.
nybl solutions are current being used to solve problems ranging
from predicting demand in supply chain to predicting equipment
failure in the oil and gas industry as well as assessing the
probability of physical security threats.
nybl's solutions are enabled by an end-to-end Artificial
Intelligence platform that eliminates the need for historical
training data by using data-behavior models and knowledge-driven
machine learning to transform data into intelligence.
For more information, visit www.nybl.ai.
SOURCE mCloud Technologies Corp.