Announces launch of AssetCare™ buildings
capability using new AI to drive continuous
savings through direct connection with the energy grid in
partnership with energy utilities
CALGARY, AB, June 9, 2021 /CNW/ - mCloud
Technologies Corp. (TSXV: MCLD) (OTCQB: MCLDF)
("mCloud" or the "Company"), a leading provider of
AI-powered asset management and ESG solutions today announced it
has added grid-adaptive demand management to its AssetCare for
Buildings solution using AI in the cloud to actively manage the
electric demand of a building in direct response to signals from
local utility operators. The Company is onboarding its first 20 new
AssetCare customer buildings to benefit from this capability in
partnership with local utilities in British Columbia, California, and New York.
Through AssetCare, mCloud offers a subscription-based solution
enabling customers to automatically respond to utility requests to
reduce energy consumption at peak times, an energy savings tactic
called "peak demand reduction," aimed at reducing concurrent load
on a local utility grid when demand for electricity and the cost of
energy are at their highest. Any utility supporting the
industry-standard OpenADR protocol for grid interactivity is
directly supported by AssetCare. The US Department of Energy
recently released a national roadmap to have every commercial
building in the United States
become grid-interactive through standards including OpenADR with
the intent of tripling building energy efficiency using demand
reduction by 2030.
Conventional solutions for connecting buildings to the grid
required extensive manual labour, meaning very few buildings have
found such implementations attractive, hampering widespread
adoption. mCloud uniquely addresses this problem through the use of
AssetCare's AI and edge connectivity to the cloud, which
dramatically simplifies and automates the deployment and ongoing
response to grid signals for load management. AssetCare's visual
analytics capabilities add an enterprise layer enabling utility
partners to continuously track peak demand reductions at the
sub-asset level. Likewise, AssetCare customers can track their
energy savings and reductions in their carbon footprint anywhere,
anytime.
"The vision of making every commercial building grid-interactive
is now a reality with AssetCare," said Dr. Patrick O'Neill, mCloud's President for
Connected Buildings. "Buildings that interact and cooperate with
the grid are the future of smart, efficient buildings and mCloud
offers the simplest pathway to get there."
"When combined with our fully automated indoor air quality
optimization capabilities, mCloud offers customers a unique, single
solution that simultaneously makes indoor environments safe,
sustainable, and remarkably energy efficient," O'Neill added.
As announced on April 21, 2021,
mCloud has partnered with three utilities in the United States and Canada and is actively working with them to
drive adoption of AssetCare through utility-sponsored incentives.
BC Hydro, the provincial utility in British Columbia, is partnered with mCloud to
offer certain commercial customers a direct incentive to make their
buildings grid-responsive. The Bay Area Regional Energy Network
("BayREN") in the state of California and Con Edison in New York State, two of the highest peak demand
regions of the United States, are
similarly partnered with mCloud to deliver energy savings.
This grid-adaptive energy savings capability is available today
for any current or new AssetCare buildings customer with a
participating energy utility. For more information, visit the
mCloud Web site at
https://www.mcloudcorp.com/HVAC-and-indoor-air-quality.
About mCloud Technologies Corp.
mCloud is unlocking the untapped potential of energy intensive
assets with 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 for 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 Canada with
offices 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 61,000
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.
SOURCE mCloud Technologies Corp.