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Universal mCloud strikes six-year deal to improve energy efficiency of TELUS tower in Scarborough, Ontario

The tech company will introduce upgrades at TELUS's tower in Scarborough

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Headquartered in Vancouver, Universal mCloud uses artificial intelligence and analytics to curb energy waste

Universal mCloud Corp (CVE:MCLD) (OTCQB:MCLDF) said Thursday it has kicked off a six-year agreement with TELUS Corporate Real Estate to upgrade HVAC controls and deploy AssetCare at one of its premier office towers - 200 Consilium Place in Scarborough, Ontario.

With help from its partner Cypress Envirosystems, Universal mCloud will upgrade and replace 450 legacy thermostats at the building with Cypress Wireless Pneumatic Thermostats and Green Box Controllers connected via mesh network to the building’s main control system.

READ: Universal mCloud unveils plans to bring its AssetCare platform to North American field workers via smart glasses

This upgrade is set to reduce energy costs related to heating and cooling by 25% and also create substantial reductions in facility maintenance costs.

“We’re thrilled to put our partnership with TELUS into action by upgrading one of their signature office towers,” said David Weinerth, Universal mCloud’s president for Smart Buildings. “The intelligence we are adding to this office towers through AssetCare’s AI and analytics will yield tangible cost savings and will serve as a great example for thousands of similar legacy buildings across North America.”

Headquartered in Vancouver, Universal mCloud uses artificial intelligence and analytics to curb energy waste, maximize energy production and improve energy infrastructure.

The company, which boasts tech and operations centers in San Francisco and Bristol, Pennsylvania, caters to four business segments: smart buildings, wind energy, power utilities and oil and gas.

Universal mCloud shares closed up 7.7% to hit C$0.42 by Wednesday afternoon.

Contact Ellen Kelleher at [email protected]

 

Quick facts: Universal mCloud Corp

Price: 0.41 CAD

TSX-V:MCLD
Market: TSX-V
Market Cap: $62.63 m
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