mCloud Signs MOU to Target Initial 5,000 National Retail Buildings with Fidus Global in the United States

mCloud Technologies Corp. (TSX-V: MCLD) (OTCQB: MCLDF) (“mCloud” or the “Company”), a leading provider of asset management solutions combining IoT, cloud computing, and artificial intelligence (“AI”), today announced it had signed a Memorandum of Understanding (“MOU”) with Fidus Global, LLC (“Fidus Global”) to commence sales, implementation, and ongoing field services for mCloud’s AssetCare™️ segment for Connected Buildings in the United States.

Fidus Global is poised to immediately target over 5,000 commercial buildings from multi-site national retail brands, including outlets, warehouses, distribution centers, and light industry plants, to bring the full scope of AssetCare solutions to notable brands across the United States, including the Company’s indoor air quality, HVAC optimization, and refrigeration monitoring capabilities. In the months ahead, mCloud and Fidus Global plan to expand the scope of this recent engagement to tens of thousands of commercial buildings across the country.

Fidus Global is a full-service controls engineering firm based in Arkansas with over 125 years of industrial automation experience and led by former executives from Amazon, FedEx, Tyson Foods, and Walmart. mCloud provides Fidus Global with the ability to offer AI-powered solutions. Fidus Global provides mCloud with a trusted partner capable of rapid scale who can help connect new sites to the AssetCare platform and coordinate with mCloud’s AI-assisted Live Operations team to resolve field issues with customers.

“We are very excited to join forces with Fidus Global in our rapidly growing business for Connected Buildings,” said Dr. Patrick O’Neill, mCloud’s President for North America. “Because Fidus Global already has a solid customer base with large multi-site building portfolios, we expect to quickly add thousands of connected assets at a low cost of customer acquisition.”

“We have seen the demand for our AssetCare indoor air quality and building efficiency solutions reach new heights as we continue to add buildings to our portfolio through our previously announced campaign in New York and California,” O’Neill added. “The performance and compliance provided by AssetCare along with the highly qualified expertise that Fidus Global brings to customers is a perfect match to meet that demand nationwide.”

“We look forward to working with mCloud to swiftly deploy AssetCare among our customers who are seeking solutions to fully re-open their businesses,” said Aarron Hale, President of Fidus Global. “mCloud’s AI capabilities and subscription-based business model combined with the experience we possess in automation design, integration, and ongoing maintenance is a powerful offering for our customers.”