Toronto, Ontario--(Newsfile Corp. - July 20, 2023) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex'') is pleased to announce a significant milestone in its electric vehicle (EV) solutions division as its wholly-owned subsidiary, Datametrex Electric Vehicle Solutions Inc. ("DM EVS"), expands operations to Toronto, Ontario.
As part of the Company's long-term growth strategy, DM EVS has expanded its operations to Toronto and has secured a location for the installation of its EV charging infrastructure. Additionally, DM EVS has started the installation and permit process, marking a crucial step toward entering Toronto's electric vehicle charging market.
DM EVS can take advantage of Toronto's EV Station Fund, which provides refunds of up to 50% of the installation cost for up to 20 EV charging stations, to a maximum of $5,000 per Level 2 charger, $15,000 per DC fast charger and $50,000 per DC faster+ charger. This program will allow DM EVS to expand in Toronto by installing EV infrastructure to increase business and profit while maintaining stable finances due to rebates.
(Source: https://www.toronto.ca/services-payments/water-environment/environmentally-friendly-city-initiatives/reports-plans-policies-research/electric-vehicles/).
The City of Toronto reports that approximately 32.5% of greenhouse gas emissions in Toronto are from on-road transportation and that switching from fossil fuel-powered vehicles to electric vehicles is important for meeting the City's goal of achieving net zero greenhouse gas emissions by 2040. Furthermore, the City reports that 30% of registered vehicles in Toronto are electric with a growing rate, and reports a high demand for electric vehicle charging infrastructure to support the City's goal for a greener city.
(Source: https://www.toronto.ca/services-payments/water-environment/environmentally-friendly-city-initiatives/reports-plans-policies-research/electric-vehicles/).
Additionally, DM EVS has made great strides in its Vancouver EV operations, where several charging locations are now in the final stages of the permit process. Despite experiencing a delay due to the backlog from the City of Vancouver, DM EVS is thrilled to report that its sales pipeline is expanding while waiting on the permit for these locations. The Company remains committed to delivering high-quality charging solutions and systems to its customers and will provide further updates once completed.
"This expansion to the Toronto EV market marks an important chapter in our journey towards sustainable transportation and supports our long-term growth strategy. As the world moves toward a more sustainable future, DM EVS remains at the forefront of driving innovation and adoption of electric vehicle charging. The Company's commitment to enhancing charging infrastructure across Canada underscores its dedication to reducing the carbon footprint and promoting cleaner transportation alternatives," said Marshall Gunter, CEO of the Company.
About DM EVS
DM EVS is trailblazing the electric vehicle (EV) industry with its leading-edge mobile charging units and proprietary mobile application. DM EVS provides solutions for drivers facing electric vehicle charging issues with its mobile charging unit which includes 24/7 roadside assistance, quick charging on the go, and preventing potential delays and issues in the future with its AI technology. The fixed AC charging system uses power resources efficiently through the dynamic load balancing function using Bluetooth technology, significantly improving cost and time to charge. DM EVS is the exclusive Canadian partner of EVAR (Electric Vehicle Advanced Recharging Inc.), a spin-off company from Samsung Electronics C-Lab.
To learn more about DM EVS, please visit: https://www.dmevs.com/.
About Datametrex
Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, machine learning, and telehealth and has recently entered the electric vehicle (EV) market. Datametrex's mission is to provide tools and solutions that support companies in fulfilling their operational goals, including health and safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through artificial intelligence and health diagnostics, the Company provides progressive solutions to support the supply chain.
For additional information on Datametrex and other corporate information, please visit the Company's website at www.datametrex.com.
To learn more about how our AI is used in Cyber Security, Telehealth and EV, visit: https://www.youtube.com/watch?v=ApFk3sWAXtg.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Email: investors@datametrex.com
Tel: 416-901-5611 x 204
Marshall Gunter, CEO
Email: mgunter@datametrex.com
Tel: 514-295-2300
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements, including statements regarding the Bid. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
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