TORONTO, ON--(Marketwired - March 22, 2017) - Internet of Things Inc. (TSX VENTURE: ITT) (FRANKFURT: 71T) ("IoT Inc." or the "Company"), an IoT software and solutions provider, announced today that it is planning to launch a program with several Canadian and American universities, to capitalize on their leading-edge R&D and commercially available technology. The goal of this collaboration is to accelerate the Company's product development cycle for both its New Hope Group Joint Venture and North America centric business units.
"We are very excited about working with leading universities to buildout our next-generation IoT technologies and products," said IoT Inc.'s CEO, Michael Frank. "We believe these partnerships will accelerate our growth strategy in both China and North America. We have had conversations with institutions in Ontario, Alberta, British Colombia, California and Pennsylvania."
As part of this initiative, IoT Inc. will initially look at acquiring products or services that are near commercialization and which the universities' commercialization offices have vetted, incubated and field-tested.
The Company's key areas of focus for these leading-edge R&D and commercially available technology partnerships will be in the areas of, but not limited to:
- Data analytics for both structured and unstructured data tied to social media;
- Sensor technology with a focus on low powered, robust platforms;
- Secured communications and enhanced cybersecurity solutions; and
- New forms of financial services around IoT Fintech
Through a joint-venture, IoT Inc. and New Hope Data Technology Co., Ltd., a New Hope Group affiliated and invested company (collectively "New Hope"), will bring Industrial IoT technologies and other IoT solutions to improve the operational efficiency and transparency of New Hope owned factories as well as other manufacturing facilities in China.
IoT Inc.'s university technology partnerships will target applications servicing the full spectrum of the IoT market, including but not limited to manufacturing, energy management, agriculture, transportation, social, cybersecurity, e-commerce and fintech.
About Internet of Things Inc. (TSX VENTURE: ITT) (FRANKFURT: 71T)
Internet of Things Inc. (www.iotintl.com) is an Internet of Things (IoT) software and solutions provider. The company acquires and implements strategic and disruptive technology solutions targeting the industrial IoT markets, including manufacturing, energy management, agriculture, transportation, social, cybersecurity, e-commerce and fintech. ITT has its headquarters in Toronto, Canada.
About New Hope Group
New Hope Group (en.newhopegroup.com) was founded in 1982. New Hope Group now has more than 600 subsidiaries in 30 countries, with nearly 70,000 employees and annual revenues of nearly 80 Billion Yuan or CAD $15.5 Billion. It is involved in a wide range of sectors, from agriculture and real estate to infrastructure, chemical engineering, finance, insurance and more. It has a AAA credit rating from China Chengxin International Credit Rating Co. Ltd. (CCXI).
New Hope Group includes New Hope Data Technology Co., Ltd, a Shanghai-based company focused on data acquisition, monitoring, analytics, knowledge transfer through the implementation of cutting-edge IoT technologies as well as professional consulting and data analytics.
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein, certain information presented constitutes "forward-looking information" within the meaning of applicable Canadian securities laws. Such forward-looking information, includes, but is not limited to, the relationship between Company and New Hope, the parties entering into definitive agreements with regard to the joint venture, the use of the Company and the joint venture within the New Hope's manufacturing processes and projected revenue and income of the joint venture. While such forward-looking statements are expressed by the Company, as stated in this release, in good faith and believed by the Company to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. The Company does not undertake any obligation to release publicly revisions to any forward-looking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investors' own risk.
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