Internet of Things Subsidiary Notches EU Patent

Internet of Things (TSXV:ITT) announced on Wednesday (September 5) that its wholly owned subsidiary, Weather Telematics, has obtained a European Patent for the mobile collection, analysis and processing of meteorological data.

According to the patent, which was initially filed in 2015, Weather Telematics can generate information and predict hyper local road conditions based on its mobile sensors, its artificial intelligence (AI) system and a data fusion platform.

The company in the release highlighted that it has already developed a unique meteorological data through which it can make real-time predictions.

“We are very satisfied with the scope of the patent including its coverage of dynamic calibration and the processing aspects of meteorological data, which are part of the large spectrum of targeted mobile applications,” Robert Moran, CEO of Weather Telematics, said in the release. “The ability to collect, analyze and process data, in real-time, from a moving device, with scientific integrity is novel and unprecedented.”

In a filing with the European Patent Office, the company described the need for such a mobile data collection device. Weather Telematics said that the traditional weather forecasts are done through sample weather stations at the airport or a highway — which are at least several kilometers apart — leading to inconclusive reports.

Similarly, weather radars that are used to detect storms are for large geographical areas and don’t provide predictions for smaller areas.

Crucially, Weather Telematics said that its mobile weather measurement system can be integrated with on-board vehicle electronics.

Weather Telematics was granted this patent three months after Internet of Things fully acquired the company.

Internet of Things, a strategic investor and operator of emerging technology, announced it had closed the acquisition of Weather Telematics in June for C$2.53 million.

“With this transformative acquisition, we are positioned to build Internet of Things …into a real-time road and environment data collection company,” James Sutcliffe, president of Internet of Things, said at the time of acquisition. “This technology is vital for autonomous driving platforms like Tesla(NASDAQ:TSLA)and others.”

Following Wednesday’s announcement, shares of Internet of Things remained unchanged from Tuesday’s (September 4) price of C$0.04. Over 245,000 shares were traded over the one day period with the stock touching a daily high of C$0.045 and a low of C$0.035. TradingView has a “Sell” ranking on the stock with 14 verticals against, 11 neutral and one in favor.

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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.