- mCloud announces a six-year deal with TELUS Corporate Real Estate to upgrade HVAC controls with AssetCare connectivity at signature office tower in Ontario, Canada
- With support from strategic partner Cypress Envirosystems, mCloud will upgrade and connect 450 thermostats across 14 floors of the building
- AssetCare solution will use AI and analytics to achieve 25% gains in energy efficiency
VANCOUVER, April 11, 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 start of a six-year agreement with TELUS Corporate Real Estate ("TELUS") to upgrade HVAC controls and deploy AssetCare at one of their premier office towers, 200 Consilium Place, in Scarborough, Ontario, Canada.
Supported by strategic partner Cypress Envirosystems Inc. ("Cypress"), mCloud will upgrade and replace 450 legacy thermostats with Cypress Wireless Pneumatic Thermostats (WPT) and Green Box Controllers connected via mesh network to the building's main control system. This configuration enables building engineers to have complete, real-time visibility into temperature and schedule settings, managing comfort across 14 TELUS office and call center floors.
The upgrade is expected to reduce energy costs related to heating and cooling by 25%, along with substantial reductions in facility maintenance costs. AssetCare will provide fault detection and diagnostics on zone-level dampers and actuators – building systems that are crucial to occupant comfort and help building engineers get ahead of potential heating or cooling issues.
"We're thrilled to put our partnership with TELUS into action by upgrading one of their signature office towers," said Dave Weinerth, mCloud President, Smart Buildings. "The intelligence we are adding to this office tower through AssetCare's AI and analytics will yield tangible cost savings and will serve as a great example for thousands of similar legacy buildings across North America."
About Universal mCloud Corp.
Universal mCloud 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
For further information: Craig MacPhail, NATIONAL Capital Markets, T: 416-586-1938, [email protected]; Russ McMeekin, Chief Executive Officer, Universal mCloud Corp., T: 415-635-3500