#AI News: VSBLTY (CSE: $VSBY.C)
(OTC: $VSBGF), Energetika Sign 10m USD Agreement to Provide Analytics and
Security Technology to Mexico Municipalities
Philadelphia,
PA - September 4, 2019 (Investorideas.com Newswire) VSBLTY Groupe Technologies
Corp. (CSE:
VSBY)
(5VS.F) (VSBGF)
("VSBLTY"), a leading retail software technology company, and
Energetika, an international provider of "intelligent lighting"
solutions, today formalized a definitive three-year agreement to provide real
time crowd analytics and audience measurement for Latin American communities.
Energetika
is a leading provider of smart lighting solutions for economically efficient
applications that incorporate security. Energetika's efficient lighting and
Smart Energy solutions for residential, commercial and governmental
applications will now incorporate VSBLTY's security technology that includes
crowd analytics and facial recognition.
The
contract, which expires August 30, 2022 and is renewable for successive terms,
was announced jointly by Jay Hutton, VSBLTY co-founder and CEO, and Rodrigo Calderon,
Energetika co-founder and CEO.
In
making the announcement, Hutton said, "We are pleased to formalize a
long-term contract with Energetika. We will be providing advanced analytics as
well as public safety applications including tracking of persons of interest,
weapon detection, and vehicle and crowd analytics using the power of machine
learning and computer vision. This contract is expected to generate more than
$10 million USD in SaaS revenue to VSBLTY in the initial three years."
In
addition, Hutton explained that the company's proprietary VSBLTY Vector™
product can be used alone or in combination with lighting solutions and any
type of digital signage to provide security by looking for "persons of
interest" or individuals carrying weapons with the intent to cause harm.
"We have worked closely with Energetika to develop a public safety network
of cameras that cost effectively delivers quality facial recognition at a very
cost-efficient price point," commented Hutton.
VSBLTY's
proprietary software platform, DataCaptor™, provides instant information.
DataCaptor measures all elements of consumer traffic using advanced optics and
sensors to provide objective, real-time, qualitative measurements and analysis
of retail venues and other public spaces.
Commenting
on the agreement Calderon said ,"Having completed a lengthy testing phase,
deployments will begin providing data this coming fall starting in the Mexico
City boroughs of Cuajimalpa and Cuauhtmoc. These initial deployments will be
followed by other locations throughout Mexico. Our goal has always been smart
energy deployment. Now these efforts have been enhanced by the combination of
our power efficient lighting systems and VSBLTY's state-of-the-art software
technologies. We are proud to have made security a matter for all citizens by
collaborating with our new Radar application. Radar is a situational awareness
dashboard with comprehensive alerting functionality making instant analysis
available to residents and law enforcement on a phone application. Radar
creates the new standard for collaborative security where citizens, law
enforcement and technology will change how security is addressed across the
world."
On
Behalf of the Board of VSBLTY Groupe Technologies Inc.
"Jay
Hutton"
CEO & Director
CEO & Director
CONTACT:
Headquartered
in Philadelphia, VSBLTY (CSE:VSBY) is the world leader in Proactive Digital
Display™, which transforms retail and public spaces as well as place-based
media networks with SaaS- based audience measurement and security software that
uses artificial intelligence and machine learning.
With
principal offices in Mexico City, Energetika provides intelligent lighting
solutions to retailers, organizations and governments in Mexico, Chile and the
Netherlands. In addition to advanced lighting, the company also installs
intelligent sensors that are able to distinguish between people and objects,
customizable controls and daylight harvesting for specific tasks. Energetika
develops systems that collect information on energy and occupation of spaces in
real time for what is happening inside of buildings, commercial properties and
factories, while saving energy, increasing comfort and reducing maintenance
cost through their predictive maintenance app.
CONTACT:
Alejandro Chico, +51 5585262496
FORWARD LOOKING
INFORMATION
This
news release contains forward-looking statements, including statements
regarding SaaS revenue expected to be generated in the next three years under
VSBLTY's contract with Energetika, and other statements that are not historical
facts. All statements other than statements of historical fact included in this
release are forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those anticipated
in such statements.
The
reader is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or circumstances
may cause actual results to differ materially from those predicted, as a result
of numerous known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company, and which are described in the
Company's public filings available under its profile at www.sedar.com. The
reader is cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by management at
the time of preparation, may prove to be incorrect and actual results may
differ materially from those anticipated. Forward-looking statements contained
in this news release are expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made as of the
date of this news release and the Company does not intend to update any of the
included forward-looking statements except as required by Canadian securities
laws.
FINANCIAL OUTLOOK
INFORMATION
This
news release contains "financial outlook information" regarding
future revenue expectations, which is subject to the same assumptions, risk
factors, limitations, and qualifications as set forth in the above. Revenue and
other estimates contained in this news release were made by VSBLTY management
as of the date of this news release and are provided for the purpose of
informing readers of the anticipated size of VSBLTY's agreement with
Energetika, and are not an estimate of profitability or any other measure of
financial performance. Investors are cautioned that the financial outlook
information contained in this news release should not be used for purposes
other than for which it is disclosed herein.
VSBLTY
Groupe Technologies Corp. (CSE: VSBY) is a featured Tech / AI stock on
Investorideas.com
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