VANCOUVER, British Columbia, Feb. 14, 2019 /CNW/ -- Trackloop Analytics Corp. ("Trackloop" or the "Company") (Canadian Securities Exchange: TOOL) (FRANKFURT: B2IP) (OTCQB: TLOOF), in collaboration with Volta Air Technologies ("Volta Air") and BYD Company Ltd (OTC: BYDDF), is pleased to announce the deployment of Trackloop's proprietary temperature monitoring software in one of the first all-electric refrigeration delivery vehicles demonstrated for commercial use in North America. BYD Motors is the largest electric vehicle manufacturer in the world, with plans to offer all-electric refrigeration delivery vehicles throughout North America - Berkshire Hathaway Inc. (NYSE: BRK.A) is one of its largest shareholders. The demonstration vehicles use Volta Air's latest transport refrigeration unit, equipped with Trackloop's real-time cold-chain monitoring and tracking software to create and establish 'zero-emission' refrigerated delivery vehicles.
This collaboration represents a disruptive solution which will be an alternative to conventional refrigeration units for urban delivery vehicles. Most delivery vehicles used commercially are either gas-powered, or diesel-powered, and consume a significant amount of fuel. Trackloop's software allows users to monitor and control all systems related to operation of the refrigeration unit, as well as location tracking. A commercial demonstration is currently underway with two vehicles by Baldor Specialty Foods in New York, and, Raley's Supermarkets & D&D Produce in California. Vehicles have also been showcased at several food delivery and advanced transportation expos.
"We are very proud to be with leaders in the food logistics industry, involved in building a more sustainable future. Working with BYD Motors and Volta Air on this project to successfully demonstrate the value of all-electric refrigeration delivery vehicles is a massive milestone in the company's roadmap, and the industry as a whole", said Trackloop CTO, Zayn Kalyan.
Trackloop is looking beyond existing technology to the future of the delivery vehicle industry as electrification and automation take over the motor-vehicle industry as a whole. The company's vision is to be vehicle agnostic and push the envelope - ensuring robust integration to electric and autonomous delivery vehicles. Trackloop's software is ahead of the curve for operational data collection and analytics, both of which are crucial for the development and advancement of the integrated technologies. Through partnerships with OEM automotive manufacturers, Trackloop aims to become the software of choice for delivery tracking used in urban delivery vehicles and eventually the rest of the supply chain.
About TrackLoop Analytics Inc.
TrackLoop Analytics (TOOL) is an analytics software company that is leveraging digital asset technology to transform and modernize multiple industries. TrackLoop is taking a diversified approach to the analytics and technology space, delivering practical solutions in the finance, logistics, cannabis, and pharmaceutical industries. The Company's turnkey real-time tracking solutions offer the very latest in IoT and AI, providing valuable data and business intelligence to some of the world's leading brands.
TrackLoop is a publicly-traded company listed on the Canadian Securities Exchange (CSE); trading symbol TOOL (C.TOOL or TOOL.cn). For more information about the company please contact us at 1-778-938-3367.
Chief Technology Officer
Forward-Looking Information This news release contains forward-looking information based on current expectations. Statements about the Company's plans and intentions, signing contracts, potential revenues, expansion into the U.S. market, other potential transactions, product development, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; market conditions and the demand and pricing for products; security threats; relationships with its customers, distributors and business partners; the ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. TrackLoop may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to achieve goals. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward looking statements.
Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, the impact of technology changes on the industry, competition, security threats, consumer sentiment towards TrackLoop's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, lack of demand for TrackLoop's products and services, increase in labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Trackloop Analytics Corp.