- Enables mCloud to offer smart building technology to an expanded market in China
- Builds on Hubei Huayan existing customer base and local support services
- Uses AssetCare energy savings to drive smart building conversion
- Delivers the AssetCare platform as a subscription service
VANCOUVER, Feb. 4, 2019 /CNW/ - Universal mCloud Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company") is pleased to announce a partnership with Hubei Huayan Zhidian Technology Co., Ltd. (Huayan) to deliver smart building technology in China.
Huayan is a leader in smart platform development and is the first enterprise in Hubei province to offer comprehensive IoT product solutions. Huayan provides its services to commercial buildings, offices, hospitals, schools and more. Huayan's objective it to further differentiate its smart building capabilities through the distribution of mCloud's AssetCare offering.
mCloud aims to optimize and reduce energy consumption across major Chinese urban centers through the targeted implementation of its AI-driven AssetCare solution. The Company's partnership with Huayan creates strong opportunities in the China market, specifically in South Central China. As announced on January 8, 2019, mCloud secured its first 9-year contract through its partnership with SCN to implement AssetCare HVAC at a Heiwado shopping centre in China's Hunan province. Through mClouds new partnership with Huayan, the Company continues to build its presence in China, expanding into the neighboring province of Hubei.
"mCloud continues to demonstrate the success of its strategic partnership model in China," stated Costantino Lanza, Chief Growth Officer leading the China initiative at mCloud. "We expect to achieve strong synergies with Huayan and benefit from their existing capabilities, established presence and talented team of experts. As demand for energy-efficient solutions grows across China, we look to best-in-class partners like Huayan to deliver mClouds AssetCare solution."
"Huayan is a leader in delivering smart building technologies to the Chinese market," said Mr. Heping Xia, CEO of Huayan. "mCloud's AssetCare offering aligns with our existing solutions and expands our portfolio to create added value for our customers. We are pleased to offer mCloud's unique and differentiating product that equips us with the latest AI and mobile technology and aligns us with a progressive company."
As mCloud builds its presence in Hubei, it continues to view the province's capital city of Wuhan as a strong contender for its future Center of Excellence in China. As announced on August 29, 2018, mCloud established its presence in the city with the signing of a MOU with Wuhan officials. This agreement promotes mCloud as part of Wuhan's green city initiatives. Wuhan City is home to one of China's leading technical universities and boasts China's largest student population with over 1.4 million students. 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.
About Universal mCloud Corp.
Universal mCloud is headquartered in Vancouver, BC with technology and operations centres in San Francisco, CA and Bristol, PA. mCloud is an Artificial Intelligence and Analytics, IoT connected asset care cloud solution company utilizing connected IoT devices, AI, 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 Hubei Huayan Zhidian Technology Co., Ltd
Hubei Huayan is the first enterprise in Hubei Province to engage in smart platform development and IoT product services, with numerous sales offices across China and a regional focus on Hubei. It specializes in research, sales and operation services for IoT systems such as smart power, smart fire, smart healthcare, smart communities, and domestic leading IoT product sales and solutions. The company has reached strategic partnerships with Baiteng IoT Technology (Shanghai) Co., Ltd., Jingzhou Smart City Technology Co., Ltd. and Wuhan Smart City Technology Co., Ltd. and is committed to smart city top-level design, smart power, smart medical care and smart parking. The company provides professional and comprehensive solutions to meet a diverse set of client needs, including, efficient parking, energy saving and emission reduction. The Company serves governments, commercial buildings, offices, hospitals, schools and more. The Company's "Smart Security Power Monitoring and Early Warning Service Cloud Platform" is the industry's leading intelligent power consumption safety supervision service system to prevent electronics-based fire disasters.
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".
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 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.
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 Capital Markets, T: 416-848-9833, [email protected]; Russ McMeekin, Chief Executive Officer, Universal mCloud Corp., T: 415-635-3500