Universal mCloud and Cypress Envirosystems Sign Agreement to target Large Institutional Buildings in Canada

Universal mCloud Corp (TSXV:MCLD), a leading provider of Artificial Intelligence and Analytics (AI&A) announced that it has signed a partnership with Silicon Valley-based Cypress Envirosystems. The mCloud-Cypress combined offering will immediately enable powerful, IoT-cloud based smart building solutions for legacy market.

As quoted in the press release:

“We expect to jointly close contracts with Cypress in Canada. Cypress has a very impressive Canadian installed base already with a number of large universities, schools, government buildings and hospitals,” said Russel McMeekin, President and CEO of mCloud. “The CEO of Cypress and I have had a very close working relationship when we were both executives at Honeywell. As Canadian natives we see this as a very large and quickly scalable market opportunity.”

Cypress Envirosystems is a high profile clean technology company based in the Silicon Valley that has invented a unique wireless thermostat that replaces existing pneumatic thermostats in minutes. This enables real-time Direct Digital Control (DDC) functionality for lower energy consumption, less maintenance labor, and more comfort for building occupants

“When Cypress’ new wireless device is installed, within a mere 15 minutes, a pneumatic, non-digital thermostat becomes a real-time, IoT thermostat, that is controllable via mCloud’s AssetCare™ system, and is ready to be monitored and optimized by AI driven algorithms 24/7. For facility managers this is a dream come true,” said Harry Sim, Cypress CEO.

Click here for the full text release.