EYEfi Expands Bushfire Monitoring and Detection for Melbourne Water Corporation
TORONTO, ON / ACCESSWIRE / February 8, 2022 / EYEfi Group Technologies Inc. (CSE:EGTI) (OTC PINK:EGTTF) ("EYEFi") is pleased to announce that its bushfire monitoring and detection solution has been used successfully throughout this 2021/2022 fire season, and will also be expanded by its client, Melbourne Water Corporation (MWC), to a new site at Mt Gregory, in the Upper Yarra Dam, a high bushfire prone area in rural Australia.
EYEfi's SPARC technology is a disruptive and foundational capability that offers entirely new levels of situational and spatial awareness for government, large enterprise, defence, and consumer markets. SPARC can inform the location of anything that can be seen in the real world, simply by pointing a camera at it. The proprietary technology uses a set of patented specialised algorithms and does not use GPS, internet, or satellite. The spatial technology also powers EYEfi's SpatialEye Smartphone App (currently in beta form being tested by selected personnel in Australia, Canada, and the US), enabling rapid automated spatial assessment of real-world surroundings and turns live video and static images into interactive objects that can be queried for geographical information, by simply touching or clicking on the image.
MWC has also commissioned EYEfi to survey and assess potential new locations to expand the network further.
EYEfi's CEO and Head of Research and Development, Simon Langdon said "We are delighted with the success of our bushfire monitoring and protection program using EYEfi SPARC with MWC and we are determined to ensure that MWC's assets and personnel continued to be protected in bushfire prone locations".
More information on EYEfi SPARC can be found on our website here.
About EYEfi in detail:
EYEfi is connecting the world's people and devices with the world around them, in real-time and in ways not previously possible.
EYEfi is a software and electronics engineering company that has developed, patented, and commercialized an innovative spatial technology; spatial, predictive, approximation, and radial convolution (SPARC) and an associated product suite, that turns sensors, cameras, and smartphones (fixed, mobile, airborne, portable or handheld) into geo-target co-ordinate acquisition devices.
EYEfi has also developed IIoT sensor hardware and associated cloud software, as a second pillar within its product offering. EYEfi Cloud is a next-generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.
On behalf of the board of directors of
EYEFI GROUP TECHNOLOGIES INC.
"Simon Langdon"
Simon Langdon, CEO
For more information contact:
Simon Langdon
Chief Executive Officer
EYEfi Group Technologies Inc.
Email: info@eyefi.com.au
Mark van der Horst
Investor Relations
EYEfi Group Technologies Inc.
Telephone: +1 (604) 760 7604
Email: mark@galecapital.com
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. NO SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
FORWARD LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.
The forward-looking statements are based on the reasonable assumptions, estimates, opinions, and analyses of management made in light of its experience and perception of historical trends in the delivery of services through its Cloud, current conditions, expected future developments and other factors management of EYEfi believes are appropriate, relevant and reasonable in the circumstances at the date that such statements are made. All of these assumptions, estimates, and opinions will necessarily be subject to change due to future events and other circumstances outside the control of EYEfi, including the effect of the Covid-19 virus. EYEfi has based the forward looking information on various material assumptions, including: despite the threat of the Covid-19 virus, EYEfi will sustain or increase profitability although on a slower projection then previously planned, and will be able to fund its operations with existing capital and projected revenue from its current agreements with its Channel Partners; EYEfi will be able to attract and retain key personnel in future if required; the general business, economic, financial market, regulatory and political conditions in which EYEfi operates will remain positive as its services can be provided in EYEfi's Cloud although deliver of its hardware may be affect by supply chain disruptions; that the general regulatory environment will not change in a manner adverse to the business of EYEfi; the tax treatment of EYEfi and its subsidiary will remain constant and EYEfi will not become subject to any material legal proceedings; the economy generally; competition, and anticipated and unanticipated costs.
Accordingly, readers should not place undue reliance on the forward-looking statements, timelines, and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions, and exclusions is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
SOURCE: EYEfi Group Technologies Inc.
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