VANCOUVER, October 1, 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 the launch of a new AssetCare™️ solution under the banner of the “3D Digital Twin.” This solution enables mCloud to take advantage of high-precision 3D laser scanners to create digital replicas of facilities along with a suite of capabilities designed to use these 3D models to streamline fieldwork, minimize facility downtime, and eliminate unnecessary field visits.
Developed with mCloud’s customers for process industries such as oil and gas, petrochemical, and pipelines in mind, AssetCare’s 3D Digital Twin is now enabling a “connected facility” where all teams can rely on a single 3D model for the operation, maintenance, and care of a site. The resulting 3D scans created in deployment are virtual replicas of a facility, with every physical aspect of a site captured in perfect detail.
- An entire facility can be examined on demand through a 3D “virtual walk-down,” which reduces the need to deploy teams to the field to carry out visual site inspections, especially valuable for sites at remote locations that may be difficult or expensive to visit.
- Teams can accurately document the current state of a facility on day one and easily keep this documentation up-to-date as conditions change.
- Precise 3D measurements down to a fraction of an inch can be made to prepare and plan for Management of Change (“MOC”) operations before activities begin on-site, enabling teams to get straight to work and minimize the amount of time usually needed to conduct site surveys.
- Critical performance and operational data can be linked in 3D to every asset in a facility model unlimited in size, providing teams with a convenient visual interface to monitor the health and performance of all process assets in a single view.
- Operations and maintenance teams can access 3D data anywhere and anytime via AssetCare Mobile on the hands-free RealWear HMT-1 and HMT-1Z1, as well as apps for the desktop, tablets, and smartphones.
The Company expects the adoption of this new capability will be swift. Alongside this launch, the Company announced it is already in the process of onboarding its first 3D Digital Twin customer in Alberta, Canada, with other customer engagements in the works. Current AssetCare customers, including mCloud’s first oil and gas customers originally announced on July 22, 2019, are seeing up to 300% improvements in their maintenance response times through their initial connectivity to AssetCare – with further potential value to come from these new 3D Digital Twin capabilities.
“AssetCare’s new 3D Digital Twin solution enables teams that manage oil and gas facilities to get access to reliable, trustworthy 3D data about their sites,” said Dr. Barry Po, mCloud’s Chief Product Officer. “With 3D, these teams can take work practices that used to take weeks or days down to hours or minutes.”
As announced on September 10, 2019, mCloud is aiming to connect over 150,000 oil and gas assets in the next five years. The 3D Digital Twin solution is positioned to play a key role in AssetCare’s rapid adoption.
mCloud’s 3D Digital Twin solution is available today, and interested customers are encouraged to get in touch with mCloud at www.mcloudcorp.com to learn more.
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 deliver 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, firstname.lastname@example.org;
Chantal Schutz, Chief Financial Officer, Universal mCloud Corp., T: 604-669-9973
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