VANCOUVER, BC, April 14, 2021 /CNW/ – After achieving an oversubscribed private placement with a new strategic set of investors, recruiting a fresh core executive team and announcing significant corporate partners, Carl Data Solutions Inc. (CSE: CRL) (FSE: 7C5) (OTC: CDTAF) (“Carl Data Solutions”) is poised for global growth as a leading developer of Big-Data-as-a-Service (“BDaaS”) and Industrial Internet of Things (“IIoT”) solutions.
Carl Data Solutions is at the nexus of what Deloitte Global calls “The Big Four” of Industry 4.0 technologies: Internet of Things, Artificial Intelligence, Big Data/Analytics and Cloud Infrastructure. It provides industry and government customers with solutions that collect, cleanse, organize, store and analyze time-series data in mission-critical applications like Environmental Monitoring as a Service (“EMaaS”). Mastering this data allows those customers to not only avoid costly downtime in their large-scale operations, but also to take advantage of predictive and prescriptive analytics on processes or forecasted events to optimize outcomes or mitigate risks.
“The last 90 days has been like training for a marathon,” said Jean-Charles Phaneuf, who came on board as CEO on January 12, 2021. “We announced an oversubscribed Private Placement of $5,601,288, a $2,000,000 Line of Credit, $250,000 in Convertible Debentures, and converted $1,491,000 of corporate debt. Then we hired new senior executives in business development, corporate marketing, technical operations, and product management.”
Carl Data Solutions also signed partnership agreements with two other industry leaders since Mr. Phaneuf took the helm in January:
- Smart IoT Technologies Inc.: a strategic partnership to provide high-quality sensors used in conjunction with Carl Data Solutions’ existing IIoT technology to provide EMaaS to new and existing customers.
- Think Quality Assurance Services Inc. (“Think-QA”): a strategic partnership to expand Carl Data Solutions’ role in the Renewable Energy sector by providing value-added services to Think-QA’s existing solar and wind farm customers. Carl Data Solutions will be providing machine learning with predictive and prescriptive analytics to reduce maintenance costs and maximize electricity production.
“Now we’re ready to run at peak performance,” stated Mr. Phaneuf. Carl Data Solutions is positioned to drive future growth based on three key goals:
- Increase the use of Carl Data Solutions’ Machine Learning and Artificial Intelligence capabilities within current products and services. The aim is to increase cross sell and upsell opportunities with existing market segments comprised of Water, Sewage, Solid Waste Management and EMaaS.
- Expand current solutions to Smart Cities by selecting early adopters of Internet of Things (IoT), time-series data, Machine Learning and Artificial Intelligence. Leverage Carl Data Solutions’ current customer base of over 100 cities to attain this goal.
- Expand current solutions to new Smart Connected Spaces by building strategic partnerships in the IIoT sector.
Phaneuf emphasized that all new market opportunities for Carl Data Solutions will undergo a disciplined evaluation process that ensures maximum profitability.
“I’m very pleased to report that after 90 days, we are on track and aligned with the growth plan we laid out,” he stated. “In essence, our short-term objective was to implement the Carl Data Solutions cornerstones: finance, people, partners and processes that we can build upon. Going forward, we can focus on growth, create advanced solutions for our customers and enhanced value for our shareholders.”
About Carl Data Solutions Inc.
Carl Data Solutions Inc. is an Industrial IoT (IIoT) and Big Data as a Service (BDaaS) company that provides next-generation collection, storage, and analytics solutions for data-centric organizations. Through its subsidiaries Astra Smart Systems Corp. and FlowWorks Inc., Carl Data Solutions helps clients analyze and model environmental data through a robust end-to-end network of custom sensor arrays combined with SaaS-based monitoring, reporting, and predictive modeling applications. Carl Data Solutions works with new cloud-based mass storage services, machine learning and artificial intelligence analytical tools to provide the scalability required to effectively monitor vast amounts of data collected by both government and industrial customers. Carl Data Solutions’ software solutions save customers time and money by aggregating information from any sensor or source to create a real-time decision support system with deep insights into protecting infrastructure and assets. More information can be found at www.CarlSolutions.com.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information is based on certain key expectations and assumptions made by the management of the Carl Data Solutions, including the ability of Carl Data Solutions to attain peak performance to drive global growth, to expand its role in the renewable energy sector by reducing costs and maximizing production, and to increase cross and up selling opportunities in the smart city and smart connected spaces markets. Although Carl Data Solutions believes that the expectations and assumptions upon which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Carl Data Solutions can provide no assurance that they will prove to be correct. Any forward-looking statements contained in this press release are made as of the date of this press release. Carl Data Solutions disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE Carl Data Solutions Inc.
For further information: Sandra Joe, Corporate Communications, Carl Data Solutions Inc., [email protected], 778-200-2064