VANCOUVER, Jan. 8, 2019 /CNW/ - Universal mCloud Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"), a leading provider of Artificial Intelligence and Analytics solutions for IoT-connected asset care technology, further to its announcement on August 29, today announced that its partner, SCN Ltd. ("SCN"), has secured a 9 year contract with Heiwado to implement AssetCare HVAC at one of its shopping centres in Changsha, Hunan Province, China.
Heiwado is a Japanese department store operator and strategic customer of SCN. Heiwado has entered into a 9-year AssetCare subscription for its store #2, a six-floor shopping centre in Changsha. This centre includes retail spaces, a supermarket, and an open central atrium. Currently, 41% of the building's energy usage is attributed to HVAC. This contract will include the optimization of two 650 ton electric chillers, two absorption chillers, 35 air handling units, two cooling towers and other related equipment. The size of this location and its current energy usage present an optimal opportunity for mCloud to apply and demonstrate its AssetCare solution in China.
As announced in mCloud's April 3, 2018 press release, the Company 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.
"SCN drives growth for mCloud in the China market," Said Russel McMeekin, President and CEO of mCloud. "Their relationships with some of the largest retailers in the country, including a top Fortune 500 retailer with over 50 malls in the region, will enable us to systematically add new locations with numerous assets which will form the basis of our China Market expansion initiative."
mCloud is immediately mobilizing its implementation team to work with SCN and begin executing on the contract. The mCloud team will be onsite later this month. The financial terms of this contract are not material to mCloud's business as defined by the regulations.
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 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.
SOURCE Universal-mCloud Corp
For further information: Madelin Daviau, NATIONAL Capital Markets, T: 416-848-9833, [email protected]; Darren Anderson, Chief Financial Officer, Universal mCloud Corp., T: 604-601-2008