Universal mCloud Outlines Bold AI Agenda to Make Commercial Buildings Energy Efficient

2019-03-11T09:21:29+00:00March 12th, 2019|Press Release|
  • Universal mCloud unveils plan to launch new AI-powered energy saving features as part of its AssetCare™ offering for Smart Buildings
  • New AI capabilities will set mCloud apart in making energy-intensive buildings such as quick serve restaurants and retail spaces energy smart
  • First mCloud customers employing new AI capabilities targeted for Q2 2019

VANCOUVER, March 12, 2019 – 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 plans to launch new industry-leading energy savings technology for its Smart Buildings segment through mCloud’s flagship AssetCare platform. This technology, using proprietary AI capabilities, targets up to 20% reductions in wasted energy in commercial buildings.

The US Department of Energy reports approximately 30% of the energy consumed by commercial buildings goes to waste, totaling an estimated US$57 billion in unnecessary energy costs annually. As highlighted in an ARC Advisory research note about mCloud (September, 2018), restaurants and retail spaces are regarded as especially energy-intensive.  mCloud’s AssetCare solution offers an innovative zero-upfront subscription model that creates operational savings to the customer while simultaneously creating a highly scalable recurring revenue stream for mCloud.

These new AI features enhance mCloud’s ability to save energy in commercial buildings. By analyzing numerous data sources such as space temperatures, outdoor weather, expected occupancy, and HVAC unit efficiency, the technology continuously pinpoints where a building’s energy is being wasted. These data are integrated into a real-time intelligence model that enables AssetCare to make decisions about how to best respond moment-to-moment to changing comfort conditions in a building, improving comfort while simultaneously curbing unnecessary energy use. This enables mCloud to seek energy savings that go beyond basic set point management and pre-set occupancy schedules.

“Our team at mCloud is excited about having the opportunity to apply the latest advances in AI and machine learning to make buildings smart,” said Dr. Barry Po, mCloud’s Chief Product Officer. “Through the use of AI, we believe it’s possible to create opportunities to make every building more sustainable.”

These new AI-powered features are expected to go live to all current and new AssetCare for Smart Buildings customers later this year. In advance of a global launch, mCloud plans to invite select customers to be part of an early access program enabling the use of these features in Q2 2019. Interested customers are encouraged to contact us for more information.

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, power 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.

SOURCE Universal-mCloud Corp

For further information:Madelin Daviau, NATIONAL Capital Markets, T: 416-848-9833, mdaviau@national.ca; Russ McMeekin, Chief Executive Officer, Universal mCloud Corp., T:  415-635-3500

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