TraceSafe Announces IoT Wearables Partnership with 'solutions by stc'

Expands presence in the growing Middle East and North Africa (MENA) market by partnering with the region's number one technology services provider

August 22, 2022 6:30 AM EDT | Source: ShiftCarbon

Vancouver, British Columbia--(Newsfile Corp. - August 22, 2022) - Tracesafe Inc., (CSE: TSF) ("TraceSafe" or the "Company"), a global leader in location-aware Internet of Things (IoT) platforms for large-scale enterprise operations and managed decarbonization, has signed a partnership with "solutions by stc" Saudi Arabia's top provider of IT solutions, to offer leading-edge Smart solutions for customers across the Kingdom of Saudi Arabia.

"solutions by stc" is the most prominent IT Services Provider in Saudi Arabia with over 25 years of experience and more than 24,000 clients in technology services across 35 cities in Saudi Arabia and trades under the name (SOLUTIONS) "Arabian Internet and Telecommunications Services Co" on the Saudi Stock Exchange with a market capitalization of approximately USD$7B.

In line with the Saudi Vision 2030 objectives, the Kingdom has started the implementation of the Smart City project in multiple areas across the region. The Vision is part of the Kingdom's larger goal to develop the economy with a commitment of investing USD $150 Billion into local real-estate projects every year till 2025.

According to research, the Saudi Arabia Smart Cities market size alone is projected to reach USD $14 Billion by 2027, growing at a CAGR of 19.6% from 2020 to 2027. Smart Cities in the region will encourage sustainable economic development and high quality of life to address growing urbanization challenges through the use of Information and Communication Technologies (ICTs) in various areas, including economy, environment, mobility, health, living, and governance.

The IoT wearables partnership will create opportunities for the two technology leaders to integrate their capabilities and offer the best of hardware assisted software solutions including advanced wearables for Smart City infrastructure and industries like hospitality, healthcare and construction. solutions by stc's diverse roster of customers includes some of the biggest organizations and associations in the region including government and private entities.

"We are honored to partner with 'solutions by stc' to usher in the future of smart infrastructure that is currently in progress in Saudi and the region. We are excited by the prospect of innovative Smart City solutions we will build together for some of the most ambitious projects in the world," said Wayne Lloyd, TraceSafe CEO. "This association will lead the way for our global expansion and we couldn't have asked for better partners than 'solutions by stc', the region's leading digital transformation enabler. With our complimentary capabilities and resources, we will be able to achieve path-breaking work in technology."

About solutions by stc:

Solutions by stc is a Saudi listed company and the Kingdom's leading enabler of digital transformation and the number one IT service provider in the Kingdom, enabling the public and private sectors to transform, reach and scale into a new digital age.

solutions by stc provides clients integrated technology solutions through a broad portfolio that enhances their day-to-day operations. Its core ICT services are designed to enable, manage and scale businesses.

solutions by stc launched its operations two decades ago and to date has serviced almost 24,000 clients across 35 cities in Saudi Arabia and in key sectors, including financial services, healthcare and education. solutions by stc has approximately 1500 employees with over 1,000 certified on key technologies and business domains.

About TraceSafe

TraceSafe provides Internet of Things (IoT) solutions transforming large-scale industrial and enterprise operations with unique wearables, industrial-grade sensors and award-winning analytics platform. The Company's hardware solutions, powered by advanced low-power bluetooth beacons, work together with its proprietary software to provide mission-critical data enabling safer, efficient and sustainable enterprise environments. With presence across North America, Asia and Europe, TraceSafe's solutions are trusted by leading organizations in healthcare, hospitality, construction, events, education and government. Recently, the company announced a strategic focus towards 'managed decarbonization' to help companies take credible climate action using high quality offsets. To this end, TraceSafe acquired an offset marketplace and launched its full suite of carbon management solutions-

For further information, please contact:

Wayne Lloyd, CEO
+1 (604) 629-9975

Mark Leung, CFO
+1 (778) 655-4242

The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.

Statements in this news release may contain forward-looking statements that are based on TraceSafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.

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