Initial Casa Pasta and CHICK "N" DIP
Restaurants Now Equipped with AI-Powered AssetCare for Connected
Buildings Solution to Deliver Healthy and Comfortable Environment
for Customers
SAN FRANCISCO, CA, Nov. 9, 2021 /CNW/ - mCloud Technologies
Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"),
a leading provider of AI-powered asset management and
Environmental, Social, and Governance ("ESG") solutions, today
announced it has equipped two initial locations in Saudi Arabia - Casa Pasta and CHICK "N" DIP
restaurants - with mCloud's AssetCare solution for HVAC and indoor
air quality ("IAQ").
Facilitated through its partnership with URBSOFT, a strategic
provider of innovative urban technologies and services supporting
the Saudi Vision 2030 initiative in the Kingdom of Saudi Arabia, mCloud will optimize
the indoor air quality and energy efficiency in the
restaurants.
Casa Pasta in Khobar City and CHICK "N" DIP in the Dhahran Mall
in Dhahran City are owned by Althawaqh Food Company ("AFCO")
Restaurant Group which has more than 100 restaurants throughout
Saudi Arabia. Plans are underway
to expand AssetCare to other restaurants in the AFCO portfolio.
"Through AssetCare, customers at select AFCO restaurants will be
able to scan a QR code to get live readings of the location's
indoor air quality before entering," said Ibrahim Al-Hindawi, mCloud President, MENA.
"Our IAQ solution exceeds the standards and regulations set
by health and building authorities around the world. This is
also the first implementation of our mCloud solution since we
received our MISA license last month, which enables us to build a
major regional center here in the Kingdom
of Saudi Arabia. We look forward to helping businesses in
the Kingdom achieve their ESG goals."
"Implementing technology that supports sustainability and helps
protect our customers is not only smart business, it is part of the
Saudi Vision 2030 initiative in helping people live healthier
lives," said Ahmed Abdulaziz Alkadi,
AFCO CEO. "We take pride in offering our customers not only
quality food and service but a safe and comfortable place to
visit."
Through AssetCare, customers will benefit from safer indoor air
through a combination of IoT-enabled 24/7 air quality monitoring
and AI-driven connected air purification. The indoor air quality is
capable of outperforming standard HEPA filtration by continuously
eliminating up to 95% of harmful particulates and contaminants
smaller than one micron in size. In addition, the AssetCare
HVAC and IAQ solution employs AI to drive HVAC energy improvements
of up to 25%, cost savings from optimized maintenance, and reduce
building energy waste.
More information about mCloud's HVAC and IAQ solutions are
invited to visit
https://www.mcloudcorp.com/HVAC-and-indoor-air-quality to learn
more.
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.
With a worldwide presence and offices in San Francisco, Vancouver, Calgary, London, Perth, Singapore, and Beijing, 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 62,000 assets connected in thousands of locations worldwide,
mCloud is changing the way energy assets are managed.
mCloud's common shares trade in Canada on the TSX Venture Exchange under the
symbol MCLD and in the United
States 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.
Althawaqh Food Company ("AFCO")
One of the largest and fastest growing F&B companies in
Saudi Arabia, which runs its
business in a professional & high international standard.
The company has more than 15 years of experience in operating
restaurants and supply chains and owns 5 brands with diverse
concepts "Italian, Asian, American, Portuguese, and Indian food".
Operating around 100 restaurants cross KSA with plans for
regional and global expansion in the next few years. For more
information, visit www.althawaqh.com.
About URBSOFT
Established in 2014, URBSOFT is a fast-growing company that
offers innovative urban technologies and services grounded in
design thinking, digital product innovation, customer experience
management, and digital transformation. No matter the industry,
device, objective, or technology platform, we are driven to improve
the human relationship with technology by designing and building
meaningful connections between companies and their customers. For
more information, visit www.urbsoft.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 the
expansion of AssetCare across the AFCO portfolio.
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.