Borqs Technologies Begins Delivery of Cellular CTA-2045 Products to SkyCentrics for Use by Utility Companies for Smart City ...
June 22 2021 - 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 has
started the delivery of cellular CTA-2045 EcoPort products to
SkyCentrics. These units are being used by utility companies in
grid interactive water heater programs in the states of Colorado
and California. Michigan is following suit and recently announced
request for quotations to acquire similar products.
Previously in October 2020, Borqs Technologies
announced that it had partnered with SkyCentrics, a Silicon Valley
company that is the leader in machine learning and artificial
intelligence for open standard power grid optimization in the U.S.,
focusing on energy efficiency, carbon optimization and air quality,
for the manufacture and delivery of cellular CTA-2045 EcoPort
technology-based products.
Mobile connected CTA-2045 EcoPort devices will
play an important role in smart cities. A smart city uses various
types of electronic methods and sensors to collect data to gain
insights in the management and operation of grid loads in order to
improve efficiency and effectiveness. As a start in the development
of a smart city, mobile connected CTA-2045 devices are chosen by
utility companies across the U.S. as the platform for smart
controlling of water heaters. Currently, all water heaters are
‘dumb,’ controlled by a thermostat and randomly going on and off.
Smart and connected CTA-2045 controls can optimize the on/off
schedule based on each household’s usage pattern, grid prices and
carbon emissions. It is estimated that the energy savings as well
as carbon emission reduction by CTA-2045 controlled residential
water heaters can produce staggering results, with each one million
CTA-2045 equipped water heaters equating to the removal of 100,000
gasoline powered cars from the highways.
Early adoption of CTA-2045 EcoPort enabled water
heaters has been underway in low-income multi-family solar and
storage communities in Hawaii. Commercial and residential markets
in buildings and power grid optimization can reach $154 billion by
the year 2026, according to Verified Market Research in their study
“Global Building Automation System Market Size By Technology, By
System, By Application, By Geographic Scope And Forecast (Aug
2020).
SkyCentrics is working with major commercial
building industrial equipment manufacturers to provide them
retrofit kits that will enable their embedded base of existing
equipment to be retrofit to have a CTA-2045 EcoPort which will
provide an inexpensive way to create the Grid Interactive Efficient
Buildings (GEBs) that were recently promoted by the Biden
administration quoting the “National Roadmap for Grid Interactive
Efficient Buildings” report by The Lawrence Berkeley National Lab
and The Brattle Group.
About SkyCentrics, Inc.
SkyCentrics is the leader in machine learning,
artificial intelligence and CTA-2045 EcoPort 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. SkyCentrics 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 is a global leader in IoT platform and
Solutions 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 unique
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 complete the business activities as described or
reach the volume as expected, 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 DouVice President of Corporate
FinanceBorqs Technologies,
Inc.sandra.dou@borqs.net www.borqs.com
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