() (OTCMKTS:MCLDF) announced Tuesday that it has signed a memorandum of understanding with turbine service company Britwind Ltd to upgrade a fleet of more than 1,000 turbines.
The Vancouver-based company provides asset management solutions combining IoT, cloud computing, artificial intelligence and analytics to curb energy waste and maximize energy production.
In collaboration with Britwind’s partner Norwin Energy, the service company designed an upgrade to a fleet of more than 1,000 turbines to address structural risks.
The upgrade, called rEsolve, will see mCloud and Britwind joining forces to offer an end-to-end solution to use mCloud’s AI and analytics to enhance the operation of Britwind’s turbines through a five-year warranty.
“mCloud’s expertise in AI and analytics for wind applications complements Britwind’s strengths in the manufacturing and maintenance of wind turbines,” said Costantino Lanza, mCloud’s Chief Growth Officer in a statement. “Our AssetCare™ for Wind solution will connect Britwind turbines to help their customers achieve peak performance.”
Shares of mCloud were trading at C$0.38 in Canada and US$0.27 in the US prior to Tuesday’s open.
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