- Signed LOI for joint project with SCN for AssetCareTM HVAC at Heiwado Shopping Center in Changsha
- Signed MOU with Wuhan City, Qingshan District government to promote mCloud technology as part of their overall green city initiatives
VANCOUVER, Aug. 29, 2018 /CNW/ - Universal mCloud Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"), a leading provider of Artificial Intelligence and Analytics (AI&A) and IoT-connected asset care technology, today announced that it has signed agreements in direct support of its initiative to enter into the China market. These agreements support mCloud's Smart Building and Smart Wind businesses, as well as its desire to establish a Center of Excellence to directly support Chinese customers.
mCloud is pleased to announce the signing of a LOI with Heiwado to implement AssetCareTM HVAC at one of its Shopping Centers in Changsha, Hunan Province, China. Heiwado is a Japanese department store operator and strategic partner of SCN Ltd. ("SCN"). As announced in mCloud's April 3, 2018 press release, mCloud is partnering with SCN to bring its Smart Buildings HVAC solutions to China. SCN is one of the top 20 commercial building contractors in China with a well-established reputation for its high-quality design and construction work and innovative building technology. SCN has received multiple prestigious awards in China and holds the highest business ranking in the People's Republic of China.
mCloud further established its presence in China with the signing of a MOU with Wuhan City, Qingshan District. This agreement will focus on promoting mCloud as part of Wuhan's green city initiatives. mCloud views Wuhan City as an optimal location for a future Chinese Center of Excellence, where it will ultimately provide direct support to its Chinese customers. Wuhan City is home to one of China's leading technical universities and boasts China's largest student population with over 1.4M students. As part of its green cities initiatives, mCloud is proposing a Smart Building demonstration project in Wuhan to showcase the future of AI&A as it applies to Smart Buildings in China.
Recent studies show that electric rates in China have risen 17.5% over the past ten years, and at the same time, China's electricity consumption per capita has more than doubled since 2005. Wuhan City is leading China in technology adoption aimed at transforming it into an advanced modern clean city environment. In 2016, Wuhan won the "2015 Chinese Sustainable Development City Award" of the United Nations Development Program. The award considers low input, high output, strong environmental protection and small influence on environment as guiding criteria.
"We are pleased to be executing on our China market expansion initiative with the signing of these strategic agreements," said Russel McMeekin, President and CEO of mCloud. "We will continue to explore the range of diverse opportunities in this massive Chinese market, where companies and cities are seeking proven AI-driven energy saving solutions."
About Universal mCloud Corp.
mCloud is headquartered in Vancouver, BC with technology and operations centers in San Francisco, CA and Bristol, PA. mCloud is an IoT connected asset care cloud solution company utilizing connected IoT devices, leading deep energy analytics, secure mobile and 3D technologies that rally all asset stakeholders around an Asset-Circle-of-Care™, providing complete real-time and historical data coupled with guidance and advice based on deep analytics and diagnostics resulting in optimal performance and care of critical equipment. It's all about the asset. The powerful and secure AssetCare™ environment is accessible everywhere, 24/7 through standard mobile devices, ruggedized headsets, and web browsers. For more information, visit www.mCloudCorp.com.
About SCN Ltd.
SCN Design & Construction Co., Ltd. was founded in 1997 and with registered capital of RMB 101million. SCN is a large decoration enterprise with eleven major qualifications appraised and decided by the Ministry of Construction of the People's Republic of China, i.e. Grade A of Architectural Decoration Engineering Design, Building Curtain Wall Design, Architectural Decoration Engineering Professional Contractor, Building Curtain Wall Engineering Contractor, Construction Electrical Installation Engineering Professional Contractor, Exhibition Engineering Design and Construction Integration, Exhibition Engineering Enterprise; And with Class 2 qualification for Electronic and Intelligent Engineering Contractors, Steel Structure Engineering Professional Contractor. It passed the ISO9001 quality management system, ISO14001 environmental management system, GB/T28001 occupational health and safety management system certification. It is an AAA-grade integrity enterprise and bank credit AAA-level enterprise in the credit evaluation of the nation's architectural decoration industry. It is the compilation unit for several industry standards such as China's "Shopping Mall Building and Management Technical Specifications," "Green Building Interior Decoration Standards," and "Building Decoration Engineering BIM Implementation Standards." It is the first company in China to establish BIM (building information model), which centralizes the innovative technologies in design and decoration industry.
SCN has achieved excellent results in high-end commercial complexes and general contracting of international brand hotels for more than 20 years by stand behind of its promises and goals in performance, perfect design, superb construction and scientific management. In the consecutive years of 2013 and 2014, it was ranked first in China's commercial space professional contracting and ranked the 13th in China of TOP 100 National Decoration Companies in 2016. It was awarded the "Shenzhen Well-known Brand" and the "Building Decoration Leading Enterprise" and other national awards. The hotel, commerce, office, hospital, and airport segmentation and decoration markets ranked the top 20 in China. SCN is the strategic partners of the AEON Group of Japan, Hankyu Department Store of Japan, HEIWADO, Japan Isetan Department Store, Japan IZUMIYA, Hong Kong New World Group, Hong Kong Kerry Group, Hong Kong Hang Lung Group, Hong Kong Henderson Group, Swedish IKEA, France Carrefour, Wal-Mart and other world-renowned commercial companies. More than 50 commercial department store projects of Hong Kong New World Group in Mainland China and all shopping centers in HEIWADO in China are designed and constructed by SCN Decorations. SCN has also contracted and completed a series of large-scale domestic commercial complex projects such as Haiko Duty Free Mission Hills International Shopping Center, Chongqing Zhongdu Metropolitan Plaza, China Resources Vientiane World, Beijing, and Chengdu Longhu Tianjie. Especially, Haiko Duty Free Mission Hills International Shopping Mall is a general contracting project designed with construction projects.
The contract value of the project is nearly 350 million yuan.
SCN results also include the design and construction of international top brand hotels and domestic boutique five-star hotels, achieving remarkable results. Including Starwood International Hotels Group's St. Regis, W Hotels, Westin, Sheraton, Le Méridien; Marriott International, Marriott; InterContinental Group's Intercontinental, Crowne Plaza; Hilton International Hotels Group's Hilton, DoubleTree by Hilton; Sofitel under Accor Group; Grand Hyatt under the Hyatt Group; International high-end brand hotels such as Four Seasons, Shangri-La, Kempinski, Perry and Jinling Hotels, Rieter, Huatian, Nanyuan Global , Grand Sky and other domestic boutique hotels. Among them, Shenzhen Four Seasons Hotel Decoration General Contracting Project has created Four Seasons Hotel's record of "the fastest construction speed and the best construction quality" in the Mainland of China and has received unanimous praise from the owners and hotel management companies. Those projects such as Nanjing Jinling Hotel and Grand Hyatt Sanya Haitang Bay Hotel and were awarded the "Luban Award" in the highest prize for the national architecture in 2016 and 2017.
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". The forward-looking information contained herein may include, but is not limited to, information concerning the Company's ability to save customer budget costs, the ability to roll out the damage assessment technology in a timely manner, the ability to expand the asset base of the Company, the future business prospects and the potential revenue of the Company.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.
An investment in securities of the Company is speculative and subject to a number of risks including, without limitation, the risks 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Universal-mCloud Corp
For further information: Madelin Daviau, NATIONAL | Equicom, T: 416-848-9833, [email protected]; Russ McMeekin, Chief Executive Officer, Universal mCloud Corp., T: 415-635-3500