Borqs Technologies teams with SkyCentrics for the delivery of Utility Scale Automated Smart Controls to the U.S. Power Infras...
October 29 2020 - 9:00AM
Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or
“Borqs”), a global leader in embedded software and products for the
Internet of Things (IoT) industry, today announced that it plans to
join with SkyCentrics, a Northern California company that is the
leader in open standard power grid optimization in the U.S., for
the manufacturing and delivery of CTA-2045 technology based
products. Mobile connected CTA-2045 devices are chosen by utility
companies across the U.S. as the open standard platform for
controlling smart appliances, beginning with a focus on water
heaters, but including pool pumps, HVAC mini-split equipment,
electric vehicle chargers, and large commercial electrical
equipment.
Historically, all water heaters have been ‘dumb’
with no ability to schedule, thus turning on and off randomly 24
hours a day to regulate the water temperature. Smart water heaters
with an open standard CTA-2045 communications port and cellular
CTA-2045 modules can optimize the schedule of heating water based
on each household’s usage pattern as well as reducing when it is on
and the grid is under peak load or using high levels of fossil
fuels. CTA-2045 controlled heat pump water heaters are up to 300%
more efficient than the traditional natural gas or electric units.
It is estimated that the pollution reduction by CTA-2045 controlled
domestic water heaters can produce staggering results, with each
one million CTA-2045 equipped water heaters equating to the removal
of carbon emissions from 200,000 gasoline-powered cars. Commercial
and residential markets in buildings and power grid optimization
can reach $110 billion by the year 2025, as predicted by Navigant
Research. The adoption is expected to begin with utility companies
in the western states proposing to initiate the gradual replacement
of over 1,000,000 residential and multi-family water heaters with
cellular-connected, CTA-2045 controlled, heat pump units starting
in 2021. More information on the application of CTA-2045 technology
can be found
at:https://www.bpa.gov/EE/Technology/demand-response/Pages/CTA2045-DataShare.aspx
SkyCentrics has focused on the research and
development of smart CTA-2045 modules and works closely with
utility companies, departments of commerce, and energy commissions
across many states in the U.S. Washington state catalyzed the
market when it passed SB 5115 that mandated a CTA-2045 port in all
new water heaters sold after January 1, 2021. Oregon will join in
2022, and California, Colorado, New York and others are weighing
when to join.
Tristan de Frondeville, Chairman and CEO of
SkyCentrics, “For over 10 years, utilities and the Consumer
Technology Association have been developing an open standard ‘USB
style’ port for appliances and electrical equipment to be able to
have a guaranteed way to optimize the equipment, including pilots
with over 20 major utilities. This CTA-2045 port will soon be
ubiquitous in major manufacturers’ electrical equipment with the
three western states of WA, OR, and CA representing over 15 million
water heaters alone. Every year, 9 million water heaters are sold,
and the sooner they can become smart and connected, the sooner our
grid will be able to integrate more renewables and decrease more
carbon emissions.”
Pat Chan, Chairman and CEO of Borqs, “Our
experience in software and hardware custom design and
productization in the IoT industry will contribute immensely to the
speediness in bringing products in scalable volume for the coming
deployment of these CTA-2045 devices in the U.S. The adaptation of
web-connected smart controllers for water heaters simply makes
sense, and the selection of Borqs Technologies by SkyCentrics as
the products partner is a smart choice.”
About SkyCentrics, Inc.
SkyCentrics is the leader in CTA-2045
connectivity to appliances and large electrical equipment providing
building and grid optimization. The company provides grid
optimization and Demand Response (DR) services to utilities
throughout the United States, as well as enabling other Demand
Response providers and aggregators to connect to CTA-2045 enabled
equipment through its OpenADR 2.0b cloud, REST API, and Volttron
open source building management system.
It also assists major OEMs in enabling their
products to include a CTA-2045 port, increasing the appliances and
equipment that can be orchestrated to save energy, provide run time
analytics and optimize the grid. Building and home owners get web,
mobile and voice controlled apps to monitor and schedule their
electric loads, while utilities and aggregators are enabled to
orchestrate millions of loads to support the grid’s integration of
renewables and mitigation of carbon emissions.
About Borqs Technologies,
Inc.
Borqs Technologies is a global leader in
software and products for the IoT, providing customizable,
differentiated and scalable Android-based smart connected devices
and cloud service solutions. Borqs has achieved leadership and
customer recognition as an innovative end-to-end IoT solutions
provider leveraging its strategic chipset partner relationships as
well as its broad software and IP portfolio.
Borqs’ unique strengths include its Android and
Android Wear Licenses which enabled the Company to develop a
software IP library covering chipset software, Android
enhancements, domain specific usage and system performance
optimization, suitable for large and low volume customized
products. The Company is also currently in development of 5G
products for phones and hotspots.
Forward-Looking Statements and
Additional Information
This press release includes “forward-looking
statements” that involve risks and uncertainties that could cause
actual results to differ materially from what is expected. Words
such as “expects”, “believes”, “anticipates”, “intends”,
“estimates”, “predicts”, “seeks”, “may”, “might”, “plan”,
“possible”, “should” and variations and similar words and
expressions are intended to identify such forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking. Such forward-looking statements
relate to future events or future results, based on currently
available information and reflect our management’s current beliefs.
Many factors could cause actual events or results to differ
materially from the events and results discussed in the
forward-looking statements, including the possibility that the
Company will not consummate the partnership as described or may not
receive actual orders in any amounts forecasted, and the negative
impact of the coronavirus on the Company’s supply chain, revenues
and overall results of operations, so the reader is advised to
refer to the Risk Factors sections of the Company’s filings with
the Securities and Exchange Commission for additional information
identifying important factors that could cause actual results to
differ materially from those anticipated in the forward-looking
statements. Except as expressly required by applicable securities
law, the Company disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Contact:
Sandra DouDirector of FinanceBorqs Technologies,
Inc.sandra.dou@borqs.netwww.borqs.com
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