VANCOUVER, Aug. 19, 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 commercial agreement with Longyuan Construction Investment (Chengde) Wind Power Co., Ltd. ("Longyuan") to deliver performance analytics via the Company's AssetCare™️ for Wind offering. AssetCare will initially be used to assess and optimize the condition and performance of wind turbine pitch systems and batteries for 35 GE wind turbines at Longyuan's Pu Fa Wind Farm in China. This agreement is the start of what is expected to be a multi-phase relationship with Longyuan.
"We look forward to demonstrating the power of AssetCare to Longyuan and helping them maximize the performance of their wind turbine fleet," said Dave Weinerth, mCloud President, Smart Energy. "By connecting these wind turbines to our AI and analytics capabilities, we are confident we will discover how to achieve better performance for these wind turbines, positioning AssetCare for more turbines in their portfolio."
"The World Wind Energy Association estimates China has approximately one-third of the world's total installed wind capacity and, with over 19,000 MW, Longyuan is China's largest wind farm developer and operator," Weinerth added.
Using historical performance data for these wind turbines, AssetCare will apply its AI and analytics to evaluate numerous pitch parameters including motor temperature, position, current, and torque along with performance variables such as wind speed, power output, and turbine mode. By detecting excessive rotational force or control system issues, AssetCare can predict impacts to annual energy production and turbine longevity. By improving wind energy production while reducing costs associated with Operations & Maintenance ("O&M"), AssetCare increases Longyuan's profitability per MWh.
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. Through mCloud's AI-powered AssetCare™ platform, mCloud offers complete asset management solutions to three distinct segments: smart facilities, power generation, and process industries including oil and gas. IoT sensors bring data from connected assets into the cloud, where AI and analytics are applied to maximize their performance. Headquartered in Vancouver, Canada with offices in locations worldwide including Calgary, San Francisco, and Beijing, the mCloud family includes an ecosystem of operating subsidiaries that delivers high-performance IoT, AI, 3D, and mobile capabilities to customers, all integrated into AssetCare. With over 100 blue chip customers and more than 35,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed. For more information, visit www.mcloudcorp.com.
SOURCE Universal mCloud Corp.
For further information: Craig MacPhail, NATIONAL Capital Markets, T: 416-586-1938, [email protected]; Chantal Schutz, Chief Financial Officer, Universal mCloud Corp., T: 604-669-9973