mCloud Technologies Corp (MCLD)

[DVP25]

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mClouds campaign aimed at businesses operating portfolios of small- and medium-sized buildings in New York and California, where Indoor Air Quality (IAQ) regulations and electricity costs are formidable, is delivering results.

No surprise the first customers are high energy intensive per square foot retail franchises for notable brands including some of the world's largest restaurant chains (think hambergers), automotive dealers, and fitness centers. While just adding more outdoor air sounds like the right solution for IAQ, heating or cooling of outdoor air is expensive. That’s why mClouds AssetCare AI platform, which optimizes energy consumption at regulated IAQ parameters, is being rapidly adopted.

"mCloud's AI-enabled Connected Buildings offering is the easiest solution for these operators, period," said Dr. Patrick O'Neill, mCloud's President for North America. "The unique and compelling economics offered by AssetCare and our partnership with local providers allow us to offer an unbeatable, no capital expenditure, subscription solution to these businesses who now
have no choice but to adapt."

Company expects Connected Buildings segment to thrive in 2021 as new campaign targets over 20,000 businesses in New York and California.

mClouds “first mover advantage” delivering subscription based AssetCare Service should lead to continued recurring revenue growth. Covid, which was a headwind in 2020, has now shifted to a tailwind for 2021.

Read the full press release here:
https://investor.mcloudcorp.com/press-releases/press-releases-details/2020/mCloud-Connects-First-Ten-New-York-Buildings-in-New-Multi-Site-Commercial-Building-Campaign/default.aspx