TORONTO, ON / ACCESSWIRE / November 9, 2021 / EYEfi Group Technologies Inc. (CSE:EGTI)(OTC PINK:EGTTF) ("EYEFi") is pleased to announce that following a successful deployment last summer (2020/21), Melbourne Water Corporation (MWC) has entered into an agreement to continue the use of EYEfi's patented spatial technology, EYEfi SPARC, this fire season (2021/22) including a Phase 2 consideration to expand the system to additional Bushfire monitoring and detection sites across their water catchments. Melbourne Water is a statutory authority responsible for managing some of Victoria's largest and most critical water catchments, forestry and associated assets covering more than 160,000 hectares (395,369 acres).
Melbourne Water has direct responsibility for bushfire planning and management, including the identification of bushfires within and around Melbourne's water catchments. EYEfi's SPARC technology provides Melbourne Water with spatial targeting (Geo-pointing) capabilities using high precision visual spectrum cameras and thermal sensors (provided by Axis Communications) along with lightning detection capability. EYEfi enables key fire personnel the ability to determine in real-time, the geographical location of a fire to within +/- 75 meters (82 yards) at a 95% confidence level at 15 kilometers (9.3 miles) - although SPARC target locations were recorded well over 40 kilometers and within a 250 meter accuracy - and without the need for triangulation or any other frame of reference.
MWC will also be the first EYEfi customer to have access to our Smartphone Application (SpatialEye), enabling field personnel to easily identify the exact location of a Bushfire, simply by pointing at it with their Smartphone using EYEfi's SpatialEye App. In early 2022, EYEfi also plans to release Artificial Intelligence (AI) smoke plume and hot-spot detection (successfully proven in the United States) within the EYEfi Cloud product, and will be offering MWC the opportunity to test this capability locally here in Australia.
Simon Langdon, EYEfi CEO, said: "Melbourne Water management have chosen to continue the use of EYEfi SPARC this coming fire season, for use across their critical water assets and being monitored from a central location, using the EYEfi Cloud platform. They are also considering expanding the system further this summer as part of Phase 2 of the project - which we will provide an update on in due course. As a company we are very excited to support MWC in their continued use of our technology, including our Smartphone App that will provide field personnel with the SPARC functionality on their mobile device".
The EYEfi platform and technology allows for an efficient and accurate location of fire sites with SPARC's geo-pointing capabilities and automated workflow. This improves efficiency and importantly, safety and OH&S outcomes.
More information on EYEfi SPARC including a Case Study on the Melbourne Water deployment in 20/21, can be found on our website here https://www.eyefigroup.com/bushfire-detection-management-1
Investors and brokers can contact Mark van der Horst at [email protected] or on 604 200-1480 (Cell 604 760-7604)
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: [email protected] | Mark van der Horst Investor Relations EYEfi Group Technologies Inc. Telephone: +1 (604) 760 7604 Email: [email protected] |
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.