Universal mCloud & Fulcrum Automation Technologies Strike Massive Deal

Universal mCloud

Announced on February 27, 2019, AssetCare developer, Universal mCloud (TSXV:MCLD) (OTCQB:MCLDF), has signed a lucrative three-year deal with Fulcrum Automation Technologies (Private).

The agreement allows Fulcrum to license and distribute mCloud’s AssetCare technology across the oil, gas and refining industries. It will be targeting $15 million USD in AssetCare subscriptions as per the agreement.

Effectively, Fulcrum has global exclusivity to AssetCare technology once it signs up $5 million USD worth of subscribers annually.

About Universal mCloud

According to the press release: “mCloud is a leading provider of Artificial Intelligence and Analytics solutions for IoT-connected asset care technology.” 

With a portfolio of 15 patents that cater to industries such as aerospace, defense, and healthcare, the company is “creating a more efficient future by tackling the world’s toughest energy problems.”

Its solution is AssetCare technology; implemented on energy infrastructures such as HVAC units, wind turbines, and distribution transformers, it maximizes their health and performance.

The Universal mCloud President and CEO, Russ McMeekin sat down with Proactive Investors Canada and talked to Steve Darling about how the deal is set to create a new “gold standard” for Industrial A.I.  

Enter Your E-mail Address To Subscribe

* indicates required
 

So where does Universal mCloud go from here and how will the deal work? Let’s take a look.

>> Tech Penny Stocks: Zynga Soars After Q4 Earnings Report

AssetCare

The Science Part

Firstly, AssetCare technology tracks the performance of energy assets deployed in the field. It uses industrial-grade IoT sensors and 4G/LTE connectivity to do this, gathering data from the assets as they operate.

It then continuously transmits the data to AssetCare in the cloud where “special predictive models and intelligent algorithms developed by mCloud” are applied to the data.

Identifying asset-specific operational adjustments in real-time, it can make adjustments to that asset’s performance. This ensures the business is getting the maximum and most efficient performance out of its asset.

As the website details further, this technology is universal: 

“For any given asset, hundreds of variables may be monitored, tracking every aspect of an asset’s health and performance.”

Full-Circle of Care

To keep the team in the loop, AssetCare delivers a full-circle of care by connecting all those who operate, benefit, or care for an asset. It does this through its “AI-driven control and optimization” as detailed above, but also by delivering management capabilities across smartphones, tablets, and digital eyewear.

The End Result

All-in-all, by tapping into the analytical data (and with machine learning capabilities), AssetCare helps businesses to use the data from their own assets to implement optimum performance levels. The result is cost-saving, energy-saving and provides, as the company aims for, a “more efficient future.”

Partnership with Fulcrum

Now, as stated, mCloud has signed a three-year agreement with Fulcrum Automation Technologies, allowing it global exclusivity of AssetCare technology. 

Fulcrum Automation Technologies will deliver the platform to its Oil & Gas customers globally, focusing on blue-chip oil, gas, and refining companies. With exclusive rights to the technology, it will be a “decisive technology differentiator for Fulcrum and its customers.

Russ McMeekin, President and CEO of mCloud, said of the deal:

“We created AssetCare with the objective to serve a diverse portfolio of critical assets […] The application of AssetCare in the oil, gas and refining markets presents a strong opportunity for mCloud to broaden its reach, achieve higher margins and address the industry’s need for deep energy analytics. mCloud will leverage its Founders’ decades of experience working with many of the global Fortune 50 companies in the market and will greatly benefit from Fulcrum’s strong presence in the industry.”

As McMeekin suggests, the deal should place mCloud’s technology in the hands of new users across the globe and further its goal of creating a more efficient future. It already counts major brands such as Starbucks (NASDAQ:SBUX), DQ (NYSE:DQ), and Telus (NYSE:TU) as clients, but who do you think will be next to use AssetCare?

>> Read More Tech News

Featured Image: Youtube

Please See Disclaimer


Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on my research and understanding of the sector.

The Article was issued on behalf of a third party, Universal mCloud Corp. Market Jar Media Inc. has received stock options to disseminate press releases and write content for 12 months.

Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on Microsmallcap.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on Microsmallcap.com.

Except for stock options issued to Market Jar Media Inc., Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.