Visionstate Creates Vertical to Develop IoT Solutions within Cannabis Sector; Signs $500,000 Contract for Development
EDMONTON, Alberta, April 15, 2021 (GLOBE NEWSWIRE) — Visionstate Corp. (TSX-V: VIS) (“Visionstate” or “the Company”) is pleased to announce it has created a new corporate entity named NEXT Vision Inc., a wholly owned division of Visionstate Corp., to develop Internet of Things (“IoT”) technology for the cannabis sector. By incorporating the Company’s solid knowhow from years developing, executing and selling software solutions for any kind of facility, Visionstate identified a need in facilities that grow and harvest cannabis, and to that end has landed a $500,000 contract.
NEXT Vision Inc. will leverage off the IoT platform for the facilities management sector to create new industry sectors.
Visionstate CEO John Putters explains, “There is no question that IoT technology is increasingly becoming critical to a corporation’s operations. Whether it’s analytics, predictive maintenance, or introducing new efficiencies in operations, IoT has demonstrated returns on investment. For licenced producers, the higher the crop’s quality coupled with cost-effective solutions, the better it is for the producer overall. We are focussing our technology on bringing about those positive results.”
Recently the cannabis sector has experienced a resurgence of activity as speculation mounts that the US will likely legalize or decriminalize cannabis at a federal level. Meanwhile, the cannabis sector has proven to be immune from the effects of COVID-19, witnessing increased sales and revenues despite the lockdowns that have occurred across Canada.
The inaugural contract provides NEXT Vision Inc. the ability to develop a tailored IoT solution for the cannabis sector. It includes introducing new sensor equipment, designing communication protocols between sensors, and developing robust data and analytics that provide insight into the efficiency of operations. Monitoring processes and equipment within larger licenced producers will include lighting, heat, and other environmental conditions, as well as standard procedures that are required to be met by the producers.
About Visionstate Corp.
Visionstate Corp. (TSX-V: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Through Visionstate Inc., it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors
“John A. Putters”
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