TORONTO , May 15, 2020 /CNW/ - Internet of Things Inc. (TSX VENTURE: ITT) (OTC: 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 today that due to the on-going COVID-19 pandemic and efforts to contain the highly contagious virus, it is experiencing an increase in expressions of interest for its newly developed fever-detection system, ThermalPass. www.thermalpass.com
AI Labs Inc. ("AI Labs"), a wholly owned subsidiary of ITT Inc., in conjunction with Commersive Solutions Corp. ("Commersive"), a developer of integrated, point-of-sale technologies that create unique retail experiences, are bringing to market a temperature monitoring solution that can be rapidly deployed at entrance ways to office buildings, airports, stadiums and other public spaces. ThermalPass with its array of multiple thermal sensors, quickly and efficiently detects body temperatures as individuals pass through at a regular pace of movement. The system is built onto an industrial strength frame and offers unparalleled accuracy in scanning a subject at a rate of 20-times per second.
The system offers unique and distinctive competencies over other fever detecting devices as it uses medical grade sensors vs. cameras. Infrared cameras are less accurate, more expensive, obtrusive to personal space and infringe on privacy. ThermalPass' sensors are designed to measure temperature from a distance by detecting an object's infrared energy. The Company's AI-powered system allows for fast, touch-free scanning of individuals as they pass through the device without impeding walking speed when entering high-traffic public locations. The system instantly and quietly alerts security personnel of any person with a higher-than-normal temperature, enabling staff to conduct a secondary check and maintain traffic flow.
"As the spread of contagions is a major concern, governments and businesses must implement solutions to put minds at ease as people get back to work," said Michael Lende , President & CEO of Internet of Things Inc. "While we are not happy to see this pandemic prolonged, we are proud to have created a mitigating solution that is being met with such fervent commercial interest. ThermalPass is positioned to help all types of corporations and institutions rebuild confidence as the world recovers from this unprecedented economic and health crisis."
Internet of Things Inc. is in continuing discussions with large property management companies, nationwide retail chains and various levels of government who are interested in potentially deploying ThermalPass as a measure to reopen facilities safely. In addition to protecting their own spaces, these entities see ThermalPass to enhance society's collective COVID-19 containment strategy, should secondary waves of the virus emerge.
Regarding regulatory approval for the device, the Company has applied to Health Canada for its Medical Device Establishment License under the government's streamlined Interim Order process.
For more information on Internet of Things Inc. visit: www.iotintl.com and follow ITT on:
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS 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 PRESS RELEASE.
SOURCE Internet of Things Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2020/15/c1729.html