Signed LOI to Commence Customer Activities Immediately
Focus on Major Commercial Complexes, Malls & "Mega" Hotels Throughout China
SCN Ltd has Designed and Constructed over 300 Million Sq. Ft. of Facilities since
1997
VANCOUVER, April 3, 2018 /CNW/ - Universal mCloud Corp.
(TSX-V: MCLD) ("mCloud" or the "Company"), a leading provider of Artificial Intelligence and Analytics ("AI&A") and
IoT-connected asset care technology, today announced that it has signed a Letter of Intent ("LOI") for a partnership with SCN
Ltd. ("SCN") to provide mCloud's AssetCare™ HVAC Solution throughout the Chinese market. SCN is one of the top 20 commercial
building contractors in China with a well-established reputation for its design/construction
quality and innovation in building technology. The initial focus of the partnership will be on commercial complexes, malls and
mega hotels in the provinces of China. The first installation/connection of AssetCare™ Solution
is expected to start by mid-year 2018. The LOI is expected be converted to a Definitive Agreement later this quarter.
Recent studies show that electric rates in China have risen 17.5% over the past ten years
while China's electricity consumption per capita has more than doubled since 2005. These trends
have led regulatory authorities to put an increased pressure on energy consumers for more efficient use of electrical energy. The
SCN partnership will offer mCloud's AI&A driven AssetCare™ Solution to optimize and reduce energy consumption across major
Chinese urban centers.
"According to Lawrence Berkeley National Lab 2016 China Energy Statistics (https://china.lbl.gov/sites/default/files/misc/ced-9-2017-final.pdf), buildings consumed approximately 5,000 Tera
Watt Hours per Annum of electricity at a CGAR of 12% at average energy rates of approximately 0.15 US cents per kWh. This trend
is expected to carry on well beyond 2021," said Russel McMeekin, President and CEO of mCloud. "The
partnership with SCN will provide mCloud with access to a massive Chinese market which will stand to benefit tremendously from
our proven AI-driven energy saving solution."
SCN Ltd. are leaders in Green Energy Design and early adopters of technologies such as BIM (Building Information Model) making
them one of the most recognized companies in the design and construction of large commercial, retail and hotel complexes with
well over 50 top western corporate brands. SCN has received multiple prestigious awards in China
and holds the highest business rankings in the People's Republic of China.
"We expect a great adoption of AssetCare™ HVAC in China via this strategic partnership.
China has one of the largest footprints of advanced HVAC assets outside the USA, all very readily connectable to the AssetCare™ Cloud and all served in very dense urban markets,"
continued McMeekin. "The addition of Mr. Yan Zhao for our China
expansion strategy and our partnership SCN Ltd. has us very well positioned for solid incremental growth in the second half of
2018 and very rapidly expanding in 2019 and beyond."
The Chairman of SCN Ltd., Mr. Jianzhong Wang, said, "We selected mCloud as our partner and
AssetCare™ HVAC as our solution for the China market based on their very impressive references
and installed base in the United States with major banks, retail and hospitality
facilities."
The terms of the agreement will be based on a split of revenues consistent with mCloud's normal practices but customized for
the local Chinese market. The final details of the terms will be outlined within the Definitive Agreement.
About Universal mCloud Corp.
Universal mCloud Corp. ("mCloud") is headquartered in Vancouver, BC with technology
and operations centers in San Francisco, CA and Bristol, PA.
mCloud is an IoT connected asset care cloud solution company utilizing connected IoT devices, leading deep energy analytics,
secure mobile and 3D technologies that rally all asset stakeholders around an Asset-Circle-of-Care™, providing complete real-time
and historical data coupled with guidance and advice based on deep analytics and diagnostics resulting in optimal performance and
care of critical equipment. It's all about the asset. The powerful and secure AssetCare™ environment is accessible
everywhere, 24/7 through standard mobile devices, ruggedized headsets, and web browsers. For more information, visit www.mCloudCorp.com.
About SCN Ltd.
SCN Design & Construction Co., Ltd., founded in 1997, is a large decoration enterprise with eleven major
qualifications appraised and decided by the Ministry of Construction of the People's Republic of China. It is the first
company in China to establish BIM (building information model), which centralizes the innovative
technologies in construction design and decoration. The company has been involved in the design and construction of many
international hotel chains including Starwood Hotels and Resorts, InterContinental Hotel Group, Hilton Hotels, Sofitel under
Accor Group, Grand Hyatt under Hyatt Group and international high-end brands such as Four Seasons, Shangri-La, Kempinski and
other domestic boutique hotels. They are strategic partners with the AEON Group of Japan,
Hankyu Department Store of Japan, HEIWADO, Japan Isetan Department Store, Japan IZUMIYA, Hong
Kong New World Group, Hong Kong Kerry Group, Hong Kong Hang Lung Group, Hong Kong Henderson Group, Swedish IKEA, France
Carrefour, Wal-Mart and other world-renowned commercial companies.
SCN has been awarded a number of accolades including being ranked the top commercial space professional contractor in 2013 and
2014. They were ranked 13th on China's TOP 100 National Decoration Companies in
2016 and have been named the "Shenzhen Well-Known Brand" and the "Building Decoration Leading Enterprise". They are
consistently recognized for the quality of their construction, and were awarded the "Luban Award" in 2016 and 2017 for a number
of their projects.
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SOURCE Universal-mCloud Corp
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