Universal mCloud Corp (CVE:MCLD ) said Monday it has entered into a partnership deal with Hubei Huayan Zhidian Technology Co Ltd to deliver smart-building technology in China.
The Vancouver-based specialist in artificial intelligence and analytics and internet of things said in a statement that it plans to deploy its AssetCare technology to reduce energy consumption in major Chinese urban centers.
READ: Universal mCloud partner SCN awarded 9-year contract to install AssetCare HVAC equipment-care system in China
Huayan, according to Universal mCloud, is the first enterprise in China’s Hubei province to offer comprehensive internet of things technology products. Its customers include commercial buildings, offices, hospitals and schools.
"We expect to achieve strong synergies with Huayan and benefit from its existing capabilities, established presence and talented team of experts,” said Costantino Lanza, chief growth officer, who is leading the China initiative at mCloud.
Huayan CEO Heping Xia added that mCloud's AssetCare technology “aligns with our existing solutions and expands our portfolio to create added value for our customers.”
Shares of Universal mCloud traded at C$0.35 in Monday’s Canadian trading.
Earlier this month, the company said its partner SCN Ltd had been awarded a nine-year contract to install the AssetCare heating ventilation and cooling equipment care system at a shopping center in China’s Hunan province.
Contact Dennis Fitzgerald at [email protected]