IQST signed a LOI with a Fortune 500 leader in the chemical industry based upon its award winning IoT tech being used by the company, with an initial 2,500 units planned. This will create another recurring revenue stream for IQST. https://finance.yahoo.com/news/iqst-iqstel-award-winning-technology-130000878.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr
"IQST - iQSTEL Award Winning Technology Division Recognized Alongside Fortune 500 Luminaries Could Soon Sign Fortune 500 Client
Thu, February 11, 2021, 7:00 AM·3 min read
NEW YORK, Feb. 11, 2021 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST) today announced entering into a letter of intent (LOI) agreement with a prominent Fortune 500 company and leader within the global chemical industry.
The potential Fortune 500 client is exploring a potential business engagement with iQSTEL's Technology Division subsidiary, IoT Labs (www.iotlabs.mx).
IoT Labs' landmark Smart Gas technology (www.iotsmartGas.com) won the Smart Appliance of the Year award from IoT Break Through (www.iotbreakthrough.com) joining the ranks of other globally recognized industry leaders including Apple, Amazon and General Electric, among other industry leaders (https://iotbreakthrough.com/2021-winners/
IoT Labs and the Fortune 500 prospect are exploring a joint effort to develop a two-way communication device of Internet of Things (IoT) for the chemical industry (IoT Smart Tank), to include a back and front-end platform to run as a Mobile App.
The parameters of the agreement are structured around an initial rollout of IoT Smart Tank solution (www.iotsmartTank.com) to be deployed on 2500 devices generating a monthly recurring revenue stream."