Corporate focus shifts to sales following rigorous and successful testing of ThermalPass prototypes
TORONTO , June 23, 2020 /CNW/ - Internet of Things Inc. (TSX VENTURE: ITT) (INOTF) (FRANKFURT:71T) ("ITT Inc." or the "Company") www.iotintl.com, a software and solutions provider in the artificial intelligence and industrial IoT markets, announced that it has launched the pre-sales program for ThermalPass, its AI-enabled, thermal sensor, temperature screening system. The ramp-up in sales and marketing comes on the heels of extensive testing, which emphatically confirmed the device's efficacy and functionality. The move to commercialize coincides with high demand for ThermalPass, as more than one hundred unsolicited inquiries were received by the Company over the last three weeks. ThermalPass accurately detects human body temperature at a distance to help mitigate the spread of the deadly coronavirus.
"We are pleased but not surprised by the immense international interest ThermalPass has already garnered," said Michael Lende , President and CEO of Internet of Things Inc. "Corporations, organizations and governments are looking to provide an added layer of safety to limit the spread of contagions and we have developed a superior product for this application. The sales funnel is brimming with potential customers including airports, long term care facilities, hospitals, educational institutions, malls, corporate buildings, and other venues where people congregate. Our first purchase order and payment were booked last week, and the groundwork has been laid for an initial production run of one-thousand units. Deliveries are anticipated to commence in late July."
ThermalPass has distinctive advantages over its competition who predominately use camera-based solutions. ThermalPass' medical-grade sensors are more accurate, taking 20 temperature readings per second. The ThermalPass touchless system does not violate social distancing rules the way camera solutions do as it does not require human intervention. Camera solutions infringe on a person's privacy whereas the sensor based ThermalPass system does not recognize a person's identity, preserving anonymity.
According to ReportLinker.com, the global thermal scanner market size is estimated to grow from US$4.1 billion in 2020 to US$6.7 billion by 2025. The increasing adoption of thermal temperature scanners at airports for the screening of people possibly infected with coronavirus is one of the key factors fueling this market's growth. Notably, the Canadian federal government recently mandated the temperature screening of all air travellers passing through the country's airports.
On June 17, 2020 , Dr. Anthony Fauci , the nation's (US) top infectious disease expert, said the US is still in its 'first wave' of the coronavirus pandemic – a warning that comes as more states reopen despite rising case numbers. More than 122,000 people in the US alone have died due to the coronavirus and at least 19 states experienced an increase in COVID-19 cases in the last two weeks.
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About Internet of Things Inc. (TSX VENTURE: ITT) (OTC: INOTF) ( FRANKFURT : 71T): Internet of Things Inc. is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. Its Weather Telematics Inc. subsidiary uses patented air quality monitoring sensors to provide predictive weather risk information to the insurance, logistics, fleet management and public safety sectors. The Company's R&D division, AI Labs Inc., develops new products that solve real-world business problems. The joint venture with Commersive Solutions Corp. is developing innovative technologies for use in various public spaces, starting with the ThermalPass™ fever detection system.
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: ThermalPass achieving the commercial results anticipated by the Company; market demand for ThermalPass; and, other 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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SOURCE Internet of Things Inc.
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