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At mCloud, we are creating a more efficient future with artificial intelligence (“AI”) and analytics.
By tapping into the power of data, we are curbing energy waste, maximizing power production, and getting the most out of critical energy infrastructure.
Through our AssetCare™ platform, we connect assets in four segments: smart buildings, wind energy, utilities, and oil and gas.
Through the use of AI and analytics, we are making the world more sustainable by:
- Curbing energy waste: The US Department of Energy estimates approximately 30% of the energy consumed by commercial buildings goes to waste — US$57 billion in lost economic value every year. We reduce peak demand in buildings by up to 20%.
- Reducing the cost of wind energy: 1 MW of wind energy costs US$48,000 to produce (New Energy Update, 2017). We improve profitability per MW by up to 30%.
- Maximizing the lifespan of energy infrastructure: With many energy assets that simply run-to-failure, it would cost US$5 trillion to replace the aging electricity grid in the US (Rhodes, 2017). We help maintainers get ahead of problems before they become expensive to fix.
Our customers include over 100 “blue chip” companies including Bank of America, Starbucks, Cinemark, Tim Hortons, and many more. We help them realize millions of dollars in cost savings and increased production annually.
We measure our progress by the number of customer assets we have connected.
In 2018, we exceeded our target of 25,000 assets with over 28,000 assets connected at year end. We have a defined five-year growth plan to 500,000 assets and our sights set on creating a billion dollar business through the use of AI and analytics.
We benefit from a highly scalable Software As A Service (SaaS) business model. This generates a monthly recurring revenue stream for each asset that we connect.
mCloud’s AI and analytics technology has its origins in some of the most advanced, demanding industries on the planet – from military-grade technology employed in aerospace and defense, to secure data management capabilities used in healthcare.
All of this technology lets us take a fresh approach to energy problems that were once deemed impossible to solve.
Through major partnerships in key markets including North America, China, and the European Union, we can directly address commercial buildings, wind turbines, distribution transformers, and many other connectable assets all around the world.
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Our customers include
“As a software layer on top of existing hardware, mCloud’s AssetCare solution is scalable and allows us to gain energy savings with minimal additional capital investment.”
Patrick Leonard – Manager, Energy & Resources at Starbucks
Chief Financial Officer
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