Universal mCloud Corp (CVE:MCLD) (OTCMKT:MCLDF), which operates in the burgeoning world of artificial intelligence and the Internet of Things (IoT), said Thursday that it planned to expand its AssetCare offering with new capabilities that incorporate next-generation technologies.
In a statement, the company said that its AssetCare platform would include advanced industrial IoT sensors, AI-powered aerial capabilities with drones, and digital twins for process simulation and 3D virtual facility walk-downs. The first of these capabilities is expected to go live in the fourth quarter and has the potential to bolster mCloud's ability to generate revenue as well as offer greater customer value from new and existing connected assets.
To lead these developments, the company also announced that James Christian has joined mCloud as vice president of Emerging Solutions. The industry veteran brings over 30 years of experience in applying leading-edge technologies to the oil and gas, refining, and petrochemical industries.
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Christian started his career at ExxonMobil where he worked on global advanced technology initiatives before taking on a role at ExxonMobil's leading petrochemical plant. He also held a variety of senior roles at Honeywell, where he managed Honeywell's global portfolio of innovative software and cloud solutions. Most recently, he played a key role in solution development for the XHQ cloud intelligence software suite at Siemens.
"We're very excited to welcome Jim to the mCloud family. Jim has driven game-changing technology programs throughout his entire career and we are confident that his leadership and expertise will strengthen our ability to bring next-generation capabilities to customers across all our lines of business," said Universal mCloud CEO Russ McMeekin said in a statement.
"Everything we do here at mCloud starts with data. As we tap into more and more data through mobile apps, advanced sensors, and drones, the AI that drives AssetCare keeps getting smarter, which enables us to deliver even more value to our customers," he added.
According to the company, its technology is curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure all over the globe. Through mCloud's AI-powered AssetCare platform, the firm provides clients with software to monitor and analyze the health of their equipment/assets. It offers complete asset management solutions to three distinct segments: smart facilities, power generation, and process industries including oil and gas.
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. It has over 100 blue-chip customers and more than 35,000 assets connected in thousands of locations worldwide.
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