TORONTO and OTTAWA, March 12, 2019 – Internet of Things Inc. (TSX-V: ITT; OTC: INOTF; FSE: 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 by a global automotive Tier 1 supplier to integrate WTX’s proprietary data into software being developed to manage the impact of weather on electric vehicles.
Given the limited duration of a battery charge, it is important to factor how weather conditions impact an electric vehicle’s range. The innovative software addresses two challenges of electric vehicle deployment – cold weather drains the battery, while heat and humidity sap the battery through use of the climate control systems.
By integrating WTX’s data into their electric vehicle software, the expected battery life can be more accurately estimated and ‘range anxiety’ can be minimized. This feature is intended to improve safety by mitigating the risks associated with operating in extreme climates where miscalculating available battery charge can leave drivers stranded.
According to recent American Automotive Association research, when the temperature dips to -7°C (20°F) and the HVAC system is used to heat the vehicle, average electric vehicle driving range decreased by 41%. Additionally, they found that when outside temperatures reach 35°C (95°F), and air-conditioning is used, driving range decreased by 17%.
“By working with our Tier 1 partner, we are helping address consumers’ anxiety about electric vehicle driving range and improve performance in all types of weather conditions”, said Bob Moran, CEO of Weather Telematics. “It’s a privilege to have the opportunity to contribute to the development of such an important product for the electric vehicle sector”.
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.
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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Internet of Things Inc.
Ron Shuttleworth, Chief Executive Officer
Mobile: (647) 500-7371
Learn more: www.iotintl.com
Cautionary and Forward-Looking Statements
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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