mCloud Technologies $MCLD stock rose more than 30% on October 27, 2022, after the company announced a partnership with Google. For a penny stock like $MCLD this is a big deal.
mCloud and Google Cloud Partner to Launch Trio of Sustainability Apps Aimed at Curbing Carbon Emissions Worldwide
On October 27, 2022, mCloud Technologies Corp. (Nasdaq: MCLD) (TSXV: MCLD) announced it had entered into a strategic partnership with Google Cloud to launch three AI-powered sustainability applications combining the Company’s AssetCare platform with the power and reach of Google Cloud and additional services such as Google Earth Engine.
mCloud joins the Google Partner Advantage program with mCloud’s AssetCare available on Google Cloud Marketplace in Q4 2022; companies to co-market and jointly deliver solutions with initial customer accounts in the USA, Canada, UK and Europe, Saudi Arabia, and Japan
In oil and gas: Digitalized emissions management streamlines methane abatement programs, combining unique AI-driven emissions detection with Google Earth Engine and 3D digital twin capabilities to measure, locate, and correct methane leaks with high precision
In buildings: AI-powered energy savings automatically eliminate energy waste and minimize the energy use intensity of commercial and industrial facilities, leveraging solar radiation data from Google Earth Engine to optimize high-demand sites now deploying EV charging infrastructure
In wind: Connected visibility into wind turbine performance combined with live wind and weather data provided by Google Earth Engine continuously optimizes wind energy production while Google Cloud-enabled image processing AI streamlines the inspection of wind turbine blades to maximize renewable energy potential
The strategic partnership between mCloud and Google Cloud is timely as the United States, the European Union, and Saudi Arabia make major commitments to methane abatement and the implementation of more stringent emission regulations. As a result, energy-intensive organizations across the globe are seeking new technologies to automate and streamline their emissions management and sustainability programs – the areas that mCloud and Google Cloud are now targeting with these applications.
mCloud’s applications deliver “Results-as-a-Service,” targeting oil and gas facilities, commercial buildings, and wind farms applying mCloud’s industrial AI, visual analytics, and 3D digital twin capabilities to measure, locate, and correct harmful emissions, eliminate energy waste, minimize carbon and methane footprints, and maximize the contributions of renewable wind energy around the world.
As part of this partnership, mCloud joins the Google Partner Advantage program and mCloud and Google Cloud plan to jointly co-market and deliver these applications to customers worldwide, offering services to specific customers in the United States, Canada, UK and Europe, Saudi Arabia, Malaysia, and Japan alongside major global customers already working with both companies.
In partnership with Google Cloud, mCloud will directly integrate and leverage core Google Cloud services such as Google Earth Engine, Vision AI, Natural Language AI, Translation AI, TensorFlow, and more to enable powerful capabilities driving the sustainability of asset- and energy-intensive operations:
- At oil and gas facilities, field teams can access asset information at their fingertips, in the cloud and on any voice-enabled mobile device with Google Cloud’s Natural Language AI. Digitalized processes and workflows streamline the detection and localization of methane leaks, while virtual collaboration capabilities seamlessly connect the frontline with the back-office in real-time.
- At commercial and industrial facilities, access to data unique to Google Earth Engine and other Google Cloud Ready – Sustainability data partners, such as solar intensity, weather conditions, and site occupancy, along with companion Google Cloud applications for retail and commercial facilities such as auto dealerships enable opportunities to automatically drive major reductions in peak demand and energy use intensity per square foot through intelligent management of building and site infrastructure energy consumption.
- At wind farms, real-time wind data from Google Earth Engine and other Google Cloud Ready – Sustainability data partners, tightly integrated with mCloud’s AI-driven image processing capabilities optimize wind energy production, eliminate maintenance overhead from manual work, and automate the inspection of wind turbine blades.
mCloud President and CEO Russ McMeekin said:
“mCloud’s partnership with Google Cloud will create many new and exciting opportunities for curbing climate emissions. The Google Cloud team has been extraordinary in their support and our teams are working well together. The direct collaboration between one of the industry’s most innovative clouds and its AI capabilities, such as Google Earth Engine, and mCloud’s AssetCare creates substantial new operating efficiencies. This means our new sustainability applications will be able to: precisely localize and target harmful emissions at the equipment level, use AI with live wind and solar data to maximize the utility of renewable energy sources, and automatically optimize the emissions footprint of assets everywhere through cloud-based capabilities.
Being part of Google Cloud’s global network for our go-to-market enables mCloud to take applications in partnership with Google Cloud and reach key accounts in every major region of mCloud’s business. As an added benefit, we will be well-positioned to align our salesThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th..., marketing, R&D, and regional expansion with specific account and growth objectives. We began these activities in several key markets this summer and we will continue to make progress together in the days ahead.”
“We are pleased to work with innovative partners like mCloud to help address the challenge of eliminating harmful GHG emissions in the energy industry,” said Amit Zavery, VP/GM and Head of Platform, Google Cloud. “By leveraging Google Cloud and capabilities made possible with Google Earth Engine and AI/ML services, customers will be able to increase their sustainability efforts by optimizing and mitigating their carbon and methane emissions with technology and at cloud scale.”
Go-to-market activities between mCloud and Google Cloud are already underway, with plans to have AssetCare available on the Google Cloud Marketplace later in 2022.
mCloud Technologies: Solving the World’s Most Challenging Energy Problems
mCloud Technologies $MCLD Stock Technical Analysis
mCloud Technologies $MCLD stock is in a technical strong downtrend. Long-term indicators suggest a continuation of the downtrend. However, short-term indicators suggest the stock is approaching oversold territory so a trend reversal is possible.