Universal mCloud Corp (CVE:MCLD) (OTCQB:MCLDF) is advancing into the huge North American oil and gas market - as it unveiled 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.
Vancouver -headquartered mCloud says it will target initial roll-outs at oil and gas refineries in Alberta.
"Our ability to deliver AssetCare on hands-free smart glasses lets us dramatically improve the productivity and efficiency of field workers everywhere," said Dr Barry Po, mCloud's chief product officer.
"All across the oil and gas value chain, there are opportunities for us to enhance the way decisions are made in the field."
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.
mCloud's partnership with Fulcrum has already begun to show signs of progress as both companies work together to target oil and gas refineries across the province of Alberta, Canada.
Further expansion plans
Further expansion to other oil and gas areas across North America are in the works, said mCloud.
Tech group Universal mCloud is creating a more efficient future with the use of AI and analytics to curb energy waste and maximize energy production.
It 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.
shares eased 1.20% in Toronto to stand at $0.41. In New York, they added 3.65% to US$0.32.
Contact Giles at [email protected]
Follow him on Twitter@Gile74