Universal mCloud makes a push into China, North American oil and gas market

Universal mCloud Corp (CVE:MCLD) (OTCQB:MCLDF) updated investors Wednesday on advancing into the huge North American oil and gas market and making strong inroads into China by cutting deals.

Headquartered in Vancouver, Universal mCloud uses artificial intelligence 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.

READ: Universal mCloud’s strong second quarter underlines IoT group’s progress

Universal mCloud is increasingly gaining traction in China, where it has now inked two tech deals, one for the Heiwado Shopping Center in China.

With mCloud’s AssetCare solution, the company will begin continuous management of the store’s HVAC (heating, ventilation, and air conditioning) systems using AI and analytics delivering energy savings.

The asset can be hooked up via the IoT to the company’s real-time data platform, where experts can monitor and analyze trends, meaning it can be kept running well and cheaper. The firm also offers repair services.

The company said the Heiwado Shopping Center contract represents the first in an expansion effort with its partner SCN Ltd to take AssetCare to over 1,000 shopping centers in China.

In parallel, mCloud’s wind division is moving forward on two wind projects using AssetCare analytics in continental Europe and China.

READ: Universal mCloud unveils plans to bring its AssetCare platform to North American field workers via smart glasses

Universal mCloud is also advancing into the huge North American oil and gas market as it plans to equip field-workers in the sector, with access to its AssetCare platform via hands-free smart glasses.

The technology was originally developed for mCloud’s smart buildings and wind segments, but now the firm is set to deliver similar capabilities via its newly-signed three-year global licensing agreement for AssetCare solutions with Fulcrum Automation Technologies.

“Getting AssetCare connected to a multitude of assets across all segments of our business is a remarkable start to 2019,” said Universal mCloud Russ McMeekin. “We look forward to making even more progress over the course of this year as we incorporate more into AssetCare.”

The move aims to improve the efficiency of more than 1.4 million field workers operating over 500,000 assets in oil and gas across North America.

Significantly, the technology allows workers to receive real-time instructions as they work through complex procedures, ensuring they get jobs done right the first time, while its smart work order management capabilities means work is ordered in priority.

The firm’s roll-out of these capabilities includes hardware partners such as RealWear, who supply mCloud with access to its HMT-1 industrial head-worn display.

Tech group Universal mCloud has more than 100 blue chip customers and more than 28,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

Story by ProactiveInvestors