Datametrex Signs $1 Million AI Contract for EV Charging Platform
Toronto, Ontario--(Newsfile Corp. - November 12, 2021) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce that it has received an artificial intelligence ("AI") Purchase Order ("P.O.") for up to $1,000,000 CAD from an electric vehicle ("EV") charging platform company.
"Under the terms of the P.O., the Company will be providing its AI technology to EV charging platform to enhance the experience of EV owners, contributing to the development of sustainable EV infrastructure," stated Marshall Gunter, CEO of the Company.
According to the Patterns Journal, the marketplace in EV charging stations is projected to reach $27 billion by 2027. The growth in the number of EV's charging stations and the development of vehicle-to-grid ("V2G") technologies to optimize charging systems will be driven by AI. In a market report with marketsandmarkets.com, the global Electric Vehicle Charging Station market size is projected to grow from 2,115 thousand units in 2020 to 30,758 thousand units by 2027, at a CAGR of 46.6%.
"Datametrex feels that AI will improve the efficiency and forecasting that support EV charging platform. With the innovations that its AI brings, Datametrex will be in a leadership position as the market expands," stated Andrew Ryu, Chairman of the Company.
On November 4th at the United Nations Climate Conference or COP26 climate conference, a new release was issued End of Coal in Sight at COP26 that announced a transition away from coal for electricity generation, plus the reduction in use of fossil fuel vehicles, EV use can reduce greenhouse gas emissions and subsequently lower air pollution and global warming. Swedish luxury maker Volvo, which intends to become a fully electric carmaker by 2030, called for in a new report at COP26 for the world's leaders and energy providers to move much faster toward a fully renewable electric grid globally.
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex's mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, Company provides progressive solutions to support the supply chain.
For additional information on Datametrex and other corporate information, please visit the Company's website at www.datametrex.com.
For further information, please contact:
Marshall Gunter - CEO
Phone: (514) 295-2300
Neither the TSX Venture Exchange nor it's Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement on mutually acceptable terms or complete the Transaction in the manner contemplated herein, if at all, that the due diligence of any of the parties will be satisfactory, or that the parties will obtain any required board, shareholder, third-party and/or regulatory or other governmental approvals, if any. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102895