TORONTO and OTTAWA, Feb. 28, 2019 – Internet of Things Inc. (TSX-V: ITT; OTC: INOTF; FRANKFURT: 7IT) (“IoT Inc.” or the “Company”) invests in data-driven industrial IoT companies that deliver significant benefit to the verticals they serve. The Company is pleased to announce that its wholly-owned subsidiary, Weather Telematics Inc. (“WTX”), has been selected to participate in “proof-of-concept” (POC) pilot programs with two global automotive industry leaders.
The pilot programs are designed to evaluate WTX’s new Predictiv RC platform by providing current and predicted road weather conditions to autonomous vehicles. The pilot programs are scheduled to start in Q2 2019.
The Predictiv RC platform is Weather Telematics’ newly released, industry-leading “micro-scale” road weather conditions platform, with resolution ranging from 500 meters to below 200 meters. This platform improves the ability of vehicles and drivers to manage and mitigate the risks associated with driving in poor weather conditions.
“We’re excited to be participating in these POC programs with two key auto sector players,” said Bob Moran, CEO of Weather Telematics. “Being invited to prove how our predictive algorithms can improve driving safety is a testament to the technical sophistication of our new Predictiv RC platform.”
About Weather Telematics Inc.
Weather Telematics Inc. is an IoT data science company offering road safety data products for industrial, government and consumer markets. Weather Telematics uses a proprietary vehicle-mounted mobile IoT sensor network and AI machine learning system to generate historical, real-time and predictive road weather conditions, for road hazard risk alerts and dynamic routing applications. Their industry-leading Predictiv RC platform mitigates weather risk, reduces traffic congestion and makes connected and autonomous navigation safer in all types of road conditions.
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About Internet of Things Inc.
Internet of Things Inc. invests in data driven industrial IoT companies that deliver significant benefit to the verticals they serve. The Company owns Weather Telematics Inc., has a joint venture channel partnership with New Hope Data Technology Co. Ltd., and is headquartered in Toronto, Canada.
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Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. 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. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company’s other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
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