- Universal mCloud and Hubei Huayan sign an AssetCare agreement that targets commercial buildings located in over 1,200 townships across Hubei province in China
- mCloud will deliver its AssetCare for Smart Buildings solution, including AI-powered HVAC control and lighting, in partnership with Hubei Huayan across China's ninth largest population centre, spanning 58.5M people and over 185,000 square kilometers
- Initial plans will see mCloud and Hubei Huayan connect approximately 50 commercial buildings located in Wuhan, the capital city of Hubei province
VANCOUVER, April 17, 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 signing of an AssetCare agreement with Hubei Huayan Zhidian Technology Co, Ltd. ("Hubei Huayan") to target commercial buildings located throughout 1,200 townships in China's Hubei province.
"Hubei province covers a territory of over 58.5 million people and more than 185,000 square kilometers, making this agreement with Hubei Huayan a tremendous step forward in mCloud's ability to access the captive commercial buildings market in China," said Costantino Lanza, mCloud's Chief Growth Officer. "Bringing AssetCare together with Hubei Huayan's local knowledge gives both mCloud and Hubei Huayan a unique first-mover advantage in using AI and analytics to save energy in China."
"We are pleased to be mCloud's exclusive solutions partner in the territory of Hubei," said Mr. Heping Xia, CEO of Hubei Huayan. "Our unique expertise in delivering smart building technology in China is enhanced with mCloud's AI and analytics to bring an offering for commercial buildings that is one-of-a-kind to the Chinese market."
As a follow-up to a February 2019 announcement that mCloud and Hubei Huayan were partnering, this agreement between mCloud and Hubei Huayan further solidifies that relationship and enables mCloud to work with Hubei Huayan to target specific commercial building opportunities as mCloud's exclusive solution partner in Hubei province. This most recent development is further evidence of mCloud's rapid success in executing its China strategy, alongside the recent string of customer deals and engagements that mCloud has seen across its Smart Buildings and Wind segments in the last quarter.
Hubei Huayan is the first enterprise in Hubei to offer comprehensive smart solutions leveraging IoT connectivity, serving numerous commercial buildings all across the province. AssetCare will extend Hubei Huayan's capabilities to improve the energy efficiency of HVAC and lighting systems in these commercial buildings by up to 20%.
Under the agreement, mCloud and Hubei Huayan have plans to target a variety of commercial buildings, including restaurants, retail spaces, offices, hospitals, and schools in Hubei province, notable as China's ninth largest population centre. To start, both companies already have plans to work together to connect approximately 50 commercial buildings located in Wuhan, the capital city of Hubei province.
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
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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