- Customers include franchises for notable brands including
some of the world's largest restaurant chains, automotive dealers,
and fitness centers
- Company expects Connected Buildings segment to thrive in
2021 as new campaign targets over 20,000 businesses in New York and California
VANCOUVER, BC, Dec. 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 it signed its first ten AssetCare™️ contracts with
building operators based in New
York. These contracts kick off a new commercial building
campaign for the Company, aimed at businesses operating portfolios
of small- and medium-sized buildings in New York and California.
The first customers from this campaign include globally
recognized restaurants, automotive dealers, fitness centers, and
other customers who each operate multiple locations in New York and California. The campaign is based on exclusive
partnerships the Company has secured with local service providers
in these two states to jointly market and offer mCloud's unique
solutions using IoT and AI to drive improvements in indoor air
quality and energy efficiency.
"This set of ten AssetCare subscription contracts is expected to
be the first of many for mCloud in 2021," said Dr. Patrick O'Neill, mCloud's President for
North America. "Businesses across
New York and California are struggling to find an
easy-to-implement solution to help them be compliant with new
health regulations and reassure their customers and employees their
buildings are safe – both are now required to get these thousands
of businesses back to work."
"mCloud's AI-enabled Connected Buildings offering is the easiest
solution for these operators, period," O'Neill added. "The unique
and compelling economics offered by AssetCare and our partnership
with local providers allow us to offer an unbeatable solution to
these businesses who now have no choice but to adapt."
AssetCare for Connected Buildings combines a comprehensive
indoor air quality solution with IoT- and AI-powered building
management, which drive operational and energy efficiency
improvements that help offset its cost. As with the Company's
AssetCare solutions in other segments, AssetCare delivers direct,
measurable business results through the cloud under a recurring
subscription model the Company calls "Results-as-a-Service."
Because mCloud uniquely combines IoT, AI, and the cloud to drive
continuous improvements 24/7, the Company is able to serve small-
and medium-size commercial building operators where standard
building control solutions are cost-prohibitive. The Company uses
AI to provide 24/7 managed Live Operations ("LiveOps") with every
AssetCare subscription, continuously monitoring and optimizing the
ventilation and air purification systems of every connected
building to ensure newly defined CDC and ASHRAE standards are met
in the most cost-efficient manner possible.
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 the
expected results of a new multi-site commercial building campaign
in 2021.
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.
View original
content:http://www.prnewswire.com/news-releases/mcloud-connects-first-ten-new-york-buildings-in-new-multi-site-commercial-building-campaign-301196982.html
SOURCE mCloud Technologies Corp.