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Facedrive Inc. (" Facedrive " or the " Company ") (TSXV: FD; OTCQX: FDVRF), a Canadian "people-and-planet first" technology ecosystem, is pleased to announce that its health services division, Facedrive Health, has successfully implemented TraceSCAN, its novel industry-specific contact tracing technology, with a number of Canadian and global industry leaders. TraceSCAN has received written expressions of interest from over 300 companies across various sectors, from manufacturing to sports entertainment to education to travel and tourism, around the globe. Following the recent announcement of Air Canada selecting TraceSCAN for a proof-of-concept pilot in its contact tracing efforts for employees, Facedrive has also received expressions of interest and engaged in conversations with other major airlines regarding potential TraceSCAN deployment.
As previously disclosed, Facedrive's TraceSCAN is an innovative COVID-19 contact tracing solution featuring advanced Bluetooth enabled wearable technology that complements and extends the reach of "COVID Alert", Health Canada's contact tracing mobile application. TraceSCAN's innovative technology combines an AI-enabled software application together with wearable devices that are built on nRF52 Bluetooth chipsets, used by many of the world's leading wearable manufacturers. TraceSCAN was developed by Facedrive Health, leveraging existing Facedrive technology, in an effort to help slow the spread of COVID-19 at the workplace through mobile phone-free wearables (" Wearables ") including wristbands, tags that can be worn around the neck, or pods that can be kept in a pocket. Launched earlier this summer, TraceSCAN has already proven to be according to existing customer feedback instrumental in mitigating the spread of COVID-19 in a number of workplaces.
The AI algorithms behind TraceSCAN have been developed in partnership with research teams at the University of Waterloo led by Patricia Nieva and William Melek, University of Waterloo mechanical and mechatronics engineering professors. The current generation of TraceSCAN is capable of identifying 2 nd and 3 rd degrees of contacts in addition to identifying some asymptomatic individuals who might be spreading COVID-19 unknowingly. The next phase of the technology's planned development includes a feature where TraceSCAN will associate a risk level to each individual within a workplace based on their interactions with other employees.
"Contact tracing allows for early detection and helps reduce the risk of the spread of COVID-19 to better protect our families, loved ones and our whole community. The old-fashioned form of contact tracing, although effective, does have its flaws which are certainly addressed through TraceSCAN," said Nieva.
"TraceSCAN is an AI-powered solution for contact tracing in the workplace which can track staff exposure to COVID-19 without GPS information. The technology provides a risk-based assessment of an individual's exposure within dynamic and dense work environments. The technology enables the creation and management of safer work environments needed during this critical phase of the pandemic," added Melek.
Facedrive's R&D team is presently working on optimizing battery life and adding next generation Internet-of-Things (IoT) sensors to the existing design of TraceSCAN. The Company hopes to use its next generation of devices and technology to break into the predictive medicine and smart watch industry.
Facedrive is also in the process of building custom non-COVID-related solutions for its industrial partners (" Partners ") through the TraceSCAN Wearables. The firmware of the Wearables can be upgraded "Over The Air" (OTA) and, accordingly, be repurposed to suit each Partner's unique industry and business needs. With the low energy consumption NRF52 chipset, powered by the 32-bit ARM® Cortex™-M4 CPU, the Wearables may be customized for a diverse range of applications including: check in/check out fobs for the hotel industry, time and payroll tracking in the manufacturing sector, various security applications for airlines, attendance monitoring in schools, payment devices for retail, and many others. Facedrive's Partners are therefore investing in technology that can be used in the COVID-19 and post-COVID landscape.
"Facedrive is pleased to work with global industry leaders to introduce an innovative and comprehensive contact tracing solution to their workforce. Across different industries, from airlines to food manufacturing to auto parts manufacturing to schools, companies are selecting TraceSCAN as the contact tracing solution to keep their people and employees safe," said Sayan Navaratnam, Facedrive's Chairman and Chief Executive Officer. As the global economy returns to normalcy, the pressure is on these industries to demonstrate that they can resume operations in a safe and responsible manner. We look forward to working alongside our industry partners to develop innovations and customize wearable devices that not only perform digital contact tracing but will also allow these companies to flourish in a post-COVID world. With the integration of AI technology, these devices will stand out from their competitors and will revolutionize the entire wearables industry."
About Facedrive
Facedrive is a multi-faceted "people-and-planet first" tech ecosystem offering socially-responsible services to local communities with a strong commitment to doing business fairly, equitably and sustainably. As part of this commitment, Facedrive's vision is to fulfil its mandate through a number of verticals that either leverage existing technologies of the Company or project considerable synergies with existing lines of business (the " Facedrive Verticals "). The Facedrive Verticals include its rideshare business (" Facedrive Rideshare "), sustainable e-commerce platform (" Facedrive Marketplace "), food-delivery service (" Facedrive Foods "), social media platform (" Facedrive Social ") and its contact-tracing and sustainable health services business (" Facedrive Health "). Facedrive Rideshare was the first to offer green transportation solutions in the TaaS space, planting thousands of trees and giving users a choice between EVs, hybrids and conventional vehicles. Facedrive Marketplace offers curated merchandise created from sustainably sourced materials. Facedrive Foods offers contactless deliveries of a wide variety of foods with the focus on healthy foods right to consumers' doorsteps. Facedrive Health develops innovative technological solutions to the most acute health challenges of the day. Facedrive is changing the ridesharing, food delivery, e-commerce and health tech narratives for the better, for everyone. For more about Facedrive, visit www.facedrive.com .
Facedrive Inc.
100 Consilium Pl, Unit 400, Scarborough, ON, Canada M1H 3E3
www.facedrive.com
Forward-Looking Information
Certain information in this press release contains forward-looking information. This information is based on management's reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. Actual results and the timing of events – such as those pertaining to the further development of TraceSCAN associated technology and/or its adoption by prospective partners – may differ materially from those anticipated in the forward-looking information as a result of various factors. Information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. Statements containing forward-looking information are not facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements.
See "Forward-Looking Information" and "Risk Factors" in Facedrive's Filing Statement dated August 28, 2019 for a discussion of the uncertainties, risks and assumptions associated with these statements. Readers are urged to consider the uncertainties, risks and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Media: Sana Srithas | sana@facedrive.com
Sayan Navaratnam
Chief Executive Officer and Director
Tel: 1-888-300-2228
