Universal mCloud introduces AI tech to make commercial buildings waste less energy

Universal mCloud Corp (CVE:MCLD) (OTCQB:MCLDF) on Tuesday unveiled plans to introduce new energy savings technology for its Smart Buildings division via its flagship AssetCare platform.

Relying on artificial intelligence (AI), the Vancouver company’s technology targets up to 20% reduction in wasted energy in commercial buildings.

By analyzing data such as space temperatures, outdoor weather and HVAC unit efficiency, the technology is able to pinpoint where a building’s energy is being wasted.

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“Our team at mCloud is excited about having the opportunity to apply the latest advances in artificial intelligence and machine learning to make buildings smart,” said Dr. Barry Po, mCloud’s chief product officer. “Through the use of AI, we believe it’s possible to create opportunities to make every building more sustainable.”

Data from the energy savings tech is then integrated into an intelligence model that allows the company’s AssetCare group to make decisions about how best to respond to changing conditions in a building and improve comfort while curbing unnecessary energy use at the same time.

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The new AI features are set to be available later this year. An early access program for select customers will be rolled out ahead of the program’s wider launch in the second quarter.

Headquartered in Vancouver, Universal mCloud uses AI and analytics to curb energy waste, maximize energy production and improve energy infrastructure. The company, which boasts tech and operations centers in San Francisco and Bristol, Pennsylvania, caters to four business segments: smart buildings, wind energy, power utilities and oil and gas.

Universal mCloud shares closed up 8.2% to finish at US$0.33 in US trading on Monday.

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors