#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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