VANCOUVER, BC, Sept. 22, 2020 /CNW/ - mCloud Technologies
Corp. (TSXV: MCLD) (OTCQB: MCLDF) ("mCloud" or
the "Company"), a leading provider of asset management solutions
combining IoT, cloud computing, and artificial intelligence ("AI"),
today announced the delivery of new AssetCare™ capabilities geared
toward oil and gas, wind, and nuclear customers in China through its Connected Worker mobile
smart glasses offering. These new capabilities are a direct result
of the Company's acquisition of kanepi Group Pty Ltd. ("kanepi")
and are driving new local demand for AssetCare solutions in these
industries.
In collaboration with partners, including head mounted display
provider RealWear, Inc. ("RealWear"), the Company expects to roll
out these new capabilities to 1,000 workers by the end of the year.
Heading into 2021, mCloud plans to target over 20,000 connected
workers in China already equipped
with mobile smart glasses.
"Connected workers are a part of mCloud's roadmap, which
complements our targeted 70,000 assets by the end of the year,"
said Russ McMeekin, mCloud President and CEO. "We possess a
crucial competitive advantage as the only provider in-market that
brings all these new capabilities together into a single integrated
offering for customers in these industries."
AssetCare for Connected Workers is a mobile AI-powered digital
assistant, delivered to workers in the field on RealWear head
mounted displays. mCloud leveraged existing kanepi technology to
add to the remote expert capabilities already provided by AssetCare
to provide enhanced workflow support and management of operator
rounds in the field.
New capabilities assist connected workers to:
- Locate and navigate to assets using GPS
- Scan QR codes on connected assets to access relevant
documentation
- Remotely review "Permit to Work" and digitally approve
equipment bypasses
mCloud is hosting its annual mCloud Connect user conference
today and tomorrow as a free online event, bringing together
industry leaders to discuss the future of connected asset
management and the role of IoT, AI, and the cloud in digital
transformation. Visit www.mcloudcorp.com/mcloud-connect to
register.
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 51,000 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.
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 information related to
rolling out and targeting connected workers in China.
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 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
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 mCloud Technologies Corp.