Announces partnership with Prosaris to
integrate intrinsically-safe ultrasonic
gas detection technology to take direct action on harmful
emissions
CALGARY, June 23, 2021 /CNW/ - mCloud Technologies
Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud"
or the "Company"), a leading provider of AI-powered asset
management and ESG solutions today announced it has partnered with
Halifax-based Prosaris Solutions
Ltd. ("Prosaris"), developers of a cutting-edge, mobile, wireless
ultrasonic detector capable of reliably quantifying air and gas
leaks as the Company begins the rollout of a new AssetCare solution
targeting fugitive gas emissions.
As announced in February 2021,
mCloud is launching an AssetCare solution that will uniquely pair
the Prosaris offering with AssetCare's industrial AI to enable the
continuous inspection and correction of gas leaks at oil and gas
facilities, known to be one of the primary causes of harmful
emissions in the sector. Research from McKinsey and Company
indicates nearly half of all oil and gas emissions can be traced to
these "fugitive gas" emissions, the unintended release of harmful
gases such as methane from industrial equipment including
pipelines, wells, and storage tanks.
Through continuous detection and correction, mCloud expects to
reduce the time to detect and curb the sources of harmful emissions
from the industry average of two months to less than one day. The
Company estimates each leak corrected through the AssetCare
solution has the potential to eliminate up to 50 tons in CO2e
emissions.
mCloud will partner with Prosaris to support the development of
an intrinsically-safe version of their ultrasonic detector in
return for time-limited exclusive access to this detector within
oil and gas. This partnership complements the recent success
Prosaris has had in securing funding and support from Sustainable
Development Technology Canada.
Both mCloud and Prosaris plan to work together to target
thousands of oil and gas sites across Western Canada and the United States in the months ahead.
Commercial rollouts of the solution are underway with oil and gas
operators in the province of Alberta, with Alberta-based AltaGas Ltd. to be among the
first recipients of the solution connecting their workforce at
several of their key facilities.
"Prosaris provides impressive detection capabilities in a
wearable package, enabling teams to use AssetCare to take direct
action on fugitive gas emissions around-the-clock," said
Russ McMeekin, mCloud President and
CEO. "We are perfectly placed to drive early adoption of this
solution through our partnership with Prosaris and our
relationships with various public agencies opening doors for us in
the province of Alberta and
internationally."
"Our partnership with mCloud will offer the oil and gas sector a
powerful choice to reduce emissions across their operations," said
Colin Sewell, Founder and CEO of
Prosaris. "Together we are set to help oil and gas customers reduce
harmful gas emissions and be more environmentally responsible
through our ultrasonic leak detection technology."
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.
About Prosaris Solutions Ltd.
Prosaris is challenging the status quo of gas leak
identification, management, and analysis. The ultrasonic technology
used in the Prosaris OL and HL series devices allows operators to
quickly track down and manage even the smallest of leaks. Our
solutions are lightweight and attach to standard Android and iOS
available products. This means emissions management technology can
be deployed more frequently at any location, and at any time an
operator is in attendance, and with cloud connectivity this
provides data that is accessible in real time for analysis. That's
better for both business and the environment. And that's good for
us all. Learn more at prosaris.ca.
SOURCE mCloud Technologies Corp.