#Energy#Digital#AI#mCloud Technologies Corp#AssetCare#Russ McMeekin

mCloud: digitally transforming the energy sector

Knackles
|Mar 24|magazine10 min read

mCloud Technologies Corp has reportedly exceeded its target to link 40,000 assets in the energy sector with its AssetCare platform by the end of 2019.

Currently standing at over 41,000 assets, AssetCare is marketed as the only service which combines IoT, AI and the cloud to form a system capable of continuous monitoring that optimises operations and drives efficiencies. 

Also available for sections of the food industry but primarily utilised by the oil and gas and wind energy sectors, mCloud’s solution can monitor valuable assets such as HVAC units, lighting, refrigeration units, compressors, valves and turbines. 

Confident of success

Speaking about the company’s accomplishment, Russ McMeekin, President and CEO, stated, "We had complete confidence we would achieve the asset growth target we had set for ourselves in 2019.

"We saw solid growth through the continued success we have had in getting thousands of new buildings connected in our Smart Facilities business throughout 2019. 

"As a result, we saw our Western Canada oil and gas customers in Smart Process move their near-term legacy project services budgets toward the implementation of AssetCare subscriptions.”

SEE ALSO:

McMeekin’s pride in mCloud’s success extended to his attitude towards the COVID-19 (coronavirus) pandemic; he suggested that, whilst the virus was having a major economic effect, he did not expect the company to suffer.

“While we expect to see lower demand for our technical project services in segments such as oil and gas, we believe these should be offset through the activity we are seeing in connecting buildings, remote wind farms, and [...] remote connected workers."

Indeed, he opined that the company would be able to achieve its new target of 70,000 connected assets by the end of 2020. 

Enabling energy efficiency

Based on calculations by the US Environmental Protection Agency, mCloud’s asset monitoring enabled its customers to mitigate 80,000 tonnes of carbon from being emitted thanks to increased energy efficiency.

An eco-friendly approach is not novel for the company, which has been utilising AI to drive more sustainable operations in the long-term and has recently launched a new project focusing on digital air quality management.

"Recent scientific research has shown that proper ventilation and airflow can play an important role in reducing the spread of airborne contaminants and pathogens," said Barry Po, PhD, President of Smart Facilities, mCloud.

"Today we are tracking CO2 levels and air quality in over 3,000 buildings, continuously improving our AI to make real-time decisions about how to optimize HVAC runtime, improve building comfort, and ensure building occupants avoid the impact of sick building syndrome."

For more information on business topics in Canada, please take a look at the latest edition of Business Chief Canada.

Follow Business Chief on LinkedIn and Twitter