Mar 26, 2019 Kristen Moran

Universal mCloud Teams Up with Britwind: The Power Behind the Wind

Universal mCloud

Universal mCloud Corp. (TSXV:MCLD) (OTCQB:MCLDF) released some exciting news Tuesday when they announced an MOU to join forces with Britwind Ltd. to upgrade a fleet of over 1,000 wind turbines. Britwind Ltd is an affiliate of Ecotricity—the world’s first green energy company.

Universal mCloud is a leading asset management solutions company that uses IoT, cloud computing, artificial intelligence, and analytics to curb energy waste and maximize energy production.

“We’re excited to be partnered with Ecotricity, the world’s first green energy company, to bring AI and analytics to wind turbines all across the UK,” said Russ McMeekin, mCloud’s CEO. “Their vision for sustainability is a great complement to mCloud’s vision of creating a more efficient future as we work together to help E-series customers extend the life of their investments and get the most out of their turbines.”

Offering an End-to-End Upgrade Solution

The agreement will utilize Universal mCloud Corp.’s (TSXV:MCLD) (OTCQB:MCLDF) artificial intelligence solution to improve wind turbine performance and reliability and enhance turbine operation of Britwind’s turbines through a five-year warranty, offering customers a complete end-to-end upgrade solution.

Working with mCloud will enable Britwind to offer the rEsolve upgrade as a subscription service with zero capital outlay by wind turbine owners on a typical 5-year term.

In collaboration with its partner Norwin Energy, Britwind designed an upgrade to the fleet of turbines that will allow its customers to extend the life of their E-series machines and improve performance, which will be beneficial to both the owners and the environment.

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Ecotricity acquired IP rights to the Endurance E-series turbines in 2017 and designed the upgrade to address structural risks present in the installed fleet.

mCloud’s AI Technology Lowering Cost and Improving Efficiency

Universal mCloud Corp. (TSXV:MCLD) (OTCQB:MCLDF) has continually proven that its AI technology solution can revolutionize energy efficiency, curb energy waste, reduce costs and get the most out of critical energy infrastructure.

The company is also working to launch a new industry-leading energy savings technology for its Smart Buildings segment through its flagship AssetCare™ platform. This technology will use mCloud’s proprietary AI capabilities to reduce wasted energy in commercial buildings by up to 20%.

Just last month, mCloud was named one of the TSX Venture Exchange’s top performing Canadian startups in the technology sector. The top companies were chosen based on market capitalization growth, share price appreciation, and trading volume for the year-end.

Universal mCloud’s stock price reacted favorably to the news, trading at $0.42 by 2:00 pm EST, up $0.04 (+10.5%) on the TSX Venture Exchange. At the same time, the share price increased to $0.31 USD, up $0.04 (+14.7%) on the OTC Markets.

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Featured image: mCloud

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