- Universal mCloud and Hubei Huayan sign an AssetCare agreement that targets commercial buildings located in over 1,200 townships across Hubei province in China
- mCloud will deliver its AssetCare for Smart Buildings solution, including AI-powered HVAC control and lighting, in partnership with Hubei Huayan across China’s ninth largest population centre, spanning 58.5M people and over 185,000 square kilometers
- Initial plans will see mCloud and Hubei Huayan connect approximately 50 commercial buildings located in Wuhan, the capital city of Hubei province
VANCOUVER, April 17, 2019 /CNW/ – Universal mCloud Corp. (TSX-V:MCLD) (OTCQB:MCLDF)(“mCloud” or the “Company”), a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence (“AI”), and analytics, today announced the signing of an AssetCare agreement with Hubei Huayan Zhidian Technology Co, Ltd. (“Hubei Huayan”) to target commercial buildings located throughout 1,200 townships in China’s Hubei province.
“>Hubei province covers a territory of over 58.5 million people and more than 185,000 square kilometers, making this agreement with Hubei Huayan a tremendous step forward in mCloud’s ability to access the captive commercial buildings market in China,” said Costantino Lanza, mCloud’s Chief Growth Officer. “Bringing AssetCare together with Hubei Huayan’s local knowledge gives both mCloud and Hubei Huayan a unique first-mover advantage in using AI and analytics to save energy in China.”
“We are pleased to be mCloud’s exclusive solutions partner in the territory of Hubei,” said Mr. Heping Xia, CEO of Hubei Huayan. “Our unique expertise in delivering smart building technology in China is enhanced with mCloud’s AI and analytics to bring an offering for commercial buildings that is one-of-a-kind to the Chinese market.”
As a follow-up to a February 2019 announcement that mCloud and Hubei Huayan were partnering, this agreement between mCloud and Hubei Huayan further solidifies that relationship and enables mCloud to work with Hubei Huayan to target specific commercial building opportunities as mCloud’s exclusive solution partner in Hubei province. This most recent development is further evidence of mCloud’s rapid success in executing its China strategy, alongside the recent string of customer deals and engagements that mCloud has seen across its Smart Buildings and Wind segments in the last quarter.
Hubei Huayan is the first enterprise in Hubei to offer comprehensive smart solutions leveraging IoT connectivity, serving numerous commercial buildings all across the province. AssetCare will extend Hubei Huayan’s capabilities to improve the energy efficiency of HVAC and lighting systems in these commercial buildings by up to 20%.
Under the agreement, mCloud and Hubei Huayan have plans to target a variety of commercial buildings, including restaurants, retail spaces, offices, hospitals, and schools in Hubei province, notable as China’s ninth largest population centre. To start, both companies already have plans to work together to connect approximately 50 commercial buildings located in Wuhan, the capital city of Hubei province.
About Universal mCloud Corp.
Universal mCloud Corp. (TSX-V:MCLD) (OTCQB:MCLDF) is creating a more efficient future with the use of AI and analytics, curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure. Headquartered in Vancouver, Canada, with technology and operations centers in San Francisco, CA and Bristol, PA, mCloud takes advantage of IoT sensors to bring data from connected assets into the cloud, applying AI and analytics to maximize their health and performance. Today, mCloud offers complete asset management solutions to four distinct segments: smart buildings, wind energy, utilities, and oil and gas. With over 100 blue chip customers and more than 28,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed. For more information, visit www.mcloudcorp.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”.
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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.
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SOURCE Universal-mCloud Corp
