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NexTech AR's virtual events platform picked by Denmark water pump producer for virtual summits

The deal will pay NexTech C$60,000, a figure which could be pushed higher with sponsorship opportunities through virtual booths and augmented reality

Nextech AR hologram coming out of a laptop
InfernoAR delivers augmented reality, AI, end-to-end encryption and built-in language translation for 64 languages

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) announced Wednesday that Grundfos, a leading water pump manufacturer based in Denmark, has selected the company’s InfernoAR video conferencing platform to hold virtual summits in the UK, Norway and Sweden.

The deal will pay NexTech C$60,000, a figure which could be pushed higher with sponsorship opportunities through virtual booths and augmented reality (AR). 

Grundfos has offices in 56 countries around the world and employs more than 19,000 people. The company is the latest international firm to choose InfernoAR for its virtual events.

READ: NexTech AR's virtual events platform chosen by UK window construction firm for trade shows

“We are rapidly signing international deals with multi-national companies and market leaders like Grundfos that are choosing our InfernoAR over our competition because our platform simply is a better solution,” CEO Evan Gappelberg said in a statement. “This deal with a multi-billion dollar global manufacturer demonstrates our ability to help our clients engage their teams, customers and suppliers on a global scale and our commitment to building long-term relationships with the biggest businesses in the world.”

InfernoAR delivers augmented reality, AI, end-to-end encryption and built-in language translation for 64 languages.

”We are experiencing significant business momentum in North America and in the EMEA (Europe, the Middle East and Africa) region,” Gappelberg said. “We continue to execute on our business plan which is to invest in our business with the rapid build-out of our AR and video conferencing technology as well as the rapid hiring of talent to meet the ever-growing demand for our products and services.”

NexTech, based in New York and Toronto, offers video conferencing and virtual events with InfernoAR, AR for e-commerce companies, AR in Chat and “v-commerce,” an in-store virtual reality experience.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

Quick facts: Nextech AR Solutions Corp.

Price: 5.38 CAD

CSE:NTAR
Market: CSE
Market Cap: $371.53 m
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