Carl Data Solutions (CSE: CRL) brings machine-learning to the $4.2 trillion utilities market
Carl Data works with new cloud-based mass storage services and machine learning (AI) analytical tools to monitor large amounts of industrial and government data.
VANCOUVER, BC, April 9, 2021 /PRNewswire/ - Carl Data Solutions (CSE: CRL) announced that it has entered into a collaborative agreement with Think Quality Assurance (Think-QA) to accelerate CRL's entry into the Renewable Energy Sector.
Carl Data works with new cloud-based mass storage services and machine learning (AI) analytical tools to monitor large amounts of industrial and government data.
The global utilities market was valued at $4.2 trillion in 2020, according to a Research&Markets report.
A developer of Big-Data-as-a-Service (BDaaS)-based solutions and Industrial Internet-of-Things (IIoT) applications – CRL saves clients time and money by aggregating information from any sensor or source to create a real-time decision support system.
The Internet of Things refers to the exploding network of physical objects that have an IP address for internet connectivity, and the communication that occurs between these objects.
Forecasts by Statista suggest that the IoT market will grow to around $1.6 trillion by 2025.
"Data generated from sensors attached to machines on factory floors worldwide enables a supply chain manager to remotely pinpoint potential problems," writes Margaret Harris of Oracle.
Think-QA provides Quality Assurance and Quality Control inspection services for some of the largest electrical utility companies in the world.
They have identified a significant opportunity to utilize machine learning, AI, data collection and monitoring of critical field-level electrical components within solar parks to optimize preventive maintenance, thus representing a significant ROI for their clients.
There is a natural synergy between Think-QA and CRL.
Think-QA has an existing customer base that generates thousands of distinct data points.
CRL can analyse complex data, identify risks and generate elegant solutions.
When no-one (or nothing) is listening to the intimate rumblings of the machines, the results can be deadly.
On 17 August 2009, a Russian hydroelectric power station failed catastrophically, creating a flood that killed 75 people.
The accident was caused by the turbine vibrations which led to metal fatigue in the mountings of Turbine 2.
Carl Data's Industrial Internet-of-Things application helps prevent this type of disaster.
CRL will provide their time-series, Industrial IIoT technology, and AI Cloud platform in collaboration with Think-QA experience and technology to substantially reduce maintenance costs for their clients.
Partnering with Think-QA provides Carl Data direct access to some of the world's largest renewable energy clients to test and calibrate the technology.
"Think-QA has provided us with a distinct set of problems, costing clients millions of dollars," stated Jean Charles Phaneuf, CEO of Carl Data. "We have a partnership with people who are not trying to boil the ocean; but rather focus on providing a specific solution to a particular problem."
"Carl Data offers proven solutions to complex problems, resulting in major cost-saving opportunities for our clients," confirmed Tim Dufour, CEO of Think-QA. "We believe Carl Data will provide a level of service and support for this vast market opportunity that in our estimation no other AI platform service provider can achieve."
On March 23, 2021 CRL announced that it has partnered with Smart IoT Technologies to provide high-value Environmental Monitoring as a Service to their customers.
Historically, Carl Data retains 97.5% of its clients annually.
CRL has been steadily building revenue, from $1.2 million in 2017, to $1.6 million in 2018, to $3.2 million in 2019, to $5.5 million in 2020.
"Think-QA is the perfect complement to our market growth strategy in Smart Connected Spaces," stated Phaneuf, "using preventive and predictive analysis to create value-add solutions."
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SOURCE Global Stocks News
