Calgary, Alberta--(Newsfile Corp. - January 20, 2022) - Zedcor Inc. (TSXV: ZDC) (the "Company" or "Zedcor") is pleased to provide the following updates highlighting its expanded fleet of MobileyeZ Security Towers, continued growth at its Lower Mainland branch, and strong utilization of the security tower fleet in Q4 2021.
"After a busy 2021 where we almost doubled the size of our MobileyeZ fleet, expanded to the British Columbia Lower Mainland and gained traction on our fixed monitoring services, I am very excited for 2022," said Todd Ziniuk, President and CEO. "We have assembled a great team that is ready to ramp up and help our customers. We have also placed orders to double the size of the MobileyeZ fleet in 2022 and expand our services to Ontario."
MobileyeZ Fleet Update
Zedcor exited 2021 with a fleet of 265 MobileyeZ security towers. The fleet increased by 115 security towers during the year as the Company saw strong demand and utilization from customers across a variety of different industries. As at December 31, 2021, Zedcor's fleet consisted of the following types of MobileyeZ security towers:
190 Solar Hybrid MobileyeZ which are preferred by customers with large infrastructure projects such as pipelines and roads. These units are entirely self contained and can be operated anywhere as they are powered by solar with battery backup and diesel charging available when there is not enough sunlight.
54 Electric MobileyeZ which are preferred by construction companies and customers with power available on site. These unique units can plug into any regular power source or an on-site generator.
21 Diesel MobileyeZ which double as power generators and security towers. Customers can use these units to power other equipment while also having the comfort of security.
All MobileyeZ security towers are equipped with state of the art HD cameras, geo-fencing capabilities and advanced AI. Video is streamed to the Company's centralized monitoring center in Western Canada where trained operators protect client sites allowing for more efficient and effective security compared to a security guard.
Utilization for the Solar Hybrid and Electric MobileyeZ was above 90% for Q4 2021 and Zedcor saw an average of 89% utilization across its fleet of security towers. November 2021 saw 94% utilization across the fleet which was a new record for the Company. This high level of utilization is driven by customers with longer term security requirements, including:
125 MobileyeZ security towers and service provided to a pipeline contractor for building a new pipeline as well as current pipeline operations;
25 security towers for a large engineering and construction partnership in the Lower Mainland;
16 security towers provided to a large pipeline contractor for a pipeline construction project in northern British Columbia;
8 security towers provided to a temporary workforce accommodation company at various long term camp sites;
7 security towers rented to a solar and wind farm contractor; and
7 security towers for an innovative manufacturing and construction company for various projects across Western Canada.
The remainder of Zedcor's fleet of security towers is spread across a variety of customers in different industries including waste management, utilities, residential and industrial construction and energy.
Lower Mainland Branch Update
The Company expanded to the British Columbia Lower Mainland and opened its branch on October 1, 2021. While significant flooding in BC slowed down the expansion efforts, Zedcor had only one tower that was damaged because of the floods. Currently, 1/3 of the MobileyeZ fleet is being managed out of this branch, and based on demand, the Company plans to allocate a large portion of its 2022 capital program to expansion in BC.
As a result of the expansion, the Company continues to execute on its strategy to expand geographically and diversify its customer base. Currently Zedcor is seeing strong demand for its security services across all market segments:
The Company provides services to 7 of Canada's top 40 construction companies based on On-Site Magazine's list of 2021 Top Contractors (source: https://www.on-sitemag.com/features/top-40-contractors-by-revenue/);
The Company's existing energy infrastructure clients (pipeline construction, solar and wind farm contractors, utility contractors) are requesting additional MobileyeZ security towers as they ramp up activity across Western Canada; and
Several customers with operations in Eastern Canada have requested services and, as a result of this, Zedcor has plans to expand to Ontario in late Q2 2022.
Fixed Monitoring Services Update
Zedcor provides fixed site remote video monitoring services mostly to large, industrial customers who are securing significant asset bases and operations. This includes contractors, car dealerships, rental equipment providers, cannabis farms and energy companies. The Company is currently monitoring 65 sites and has secured a verbal commitment from a large auction house to provide fixed site monitoring for its locations across Canada.
For further information contact:
Todd Ziniuk
President & Chief Executive Officer
P: 403-930-5432
E: tziniuk@zedcor.ca
Amin Ladha
Chief Financial Officer
P: 403-930-5435
E: aladha@zedcor.ca