mCloud Connects First Ten New York Buildings in New Multi-Site Commercial Building Campaign

• Customers include franchises for notable brands including some of the world’s largest restaurant chains, automotive dealers, and fitness centers
• Company expects Connected Buildings segment to thrive in 2021 as new campaign targets over 20,000 businesses in New York and California

mCloud Technologies Corp. , a leading provider of asset management solutions combining IoT, cloud computing, and artificial intelligence (“AI”), announced it signed its first ten AssetCare™️ contracts with building operators based in New York. These contracts kick off a new commercial building campaign for the Company, aimed at businesses operating portfolios of small- and medium-sized buildings in New York and California.

The first customers from this campaign include globally recognized restaurants, automotive dealers, fitness centers, and other customers who each operate multiple locations in New York and California. The campaign is based on exclusive partnerships the Company has secured with local service providers in these two states to jointly market and offer mCloud’s unique solutions using IoT and AI to drive improvements in indoor air quality and energy efficiency.

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“This set of ten AssetCare subscription contracts is expected to be the first of many for mCloud in 2021,” said Dr. Patrick O’Neill, mCloud’s President for North America. “Businesses across New York and California are struggling to find an easy-to-implement solution to help them be compliant with new health regulations and reassure their customers and employees their buildings are safe – both are now required to get these thousands of businesses back to work.”

“mCloud’s AI-enabled Connected Buildings offering is the easiest solution for these operators, period,” O’Neill added. “The unique and compelling economics offered by AssetCare and our partnership with local providers allow us to offer an unbeatable solution to these businesses who now have no choice but to adapt.”

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AssetCare for Connected Buildings combines a comprehensive indoor air quality solution with IoT- and AI-powered building management, which drive operational and energy efficiency improvements that help offset its cost. As with the Company’s AssetCare solutions in other segments, AssetCare delivers direct, measurable business results through the cloud under a recurring subscription model the Company calls “Results-as-a-Service.”

Because mCloud uniquely combines IoT, AI, and the cloud to drive continuous improvements 24/7, the Company is able to serve small- and medium-size commercial building operators where standard building control solutions are cost-prohibitive. The Company uses AI to provide 24/7 managed Live Operations (“LiveOps”) with every AssetCare subscription, continuously monitoring and optimizing the ventilation and air purification systems of every connected building to ensure newly defined CDC and ASHRAE standards are met in the most cost-efficient manner possible.

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