EYEFI Secures First Order from FUJITSU and Further Orders from The Department of Transport

March 16, 2021 8:02 AM EDT

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TORONTO, ON / ACCESSWIRE / March 16, 2021 / EYEFI Group Technologies Inc. (CSE:EGTI) is pleased to provide a sales activity update.

EYEfi has received an order for its Cloud and Smart Drain solution, for Transurban Group (ASX:TCL); a $34B market-cap urban toll road network operator in Australia and the United States of America. The order was placed by EYEfi's channel partner, Fujitsu, as part of Transurban's initial phase 1 rollout in Australia's third largest state, Queensland, for managing storm water pits to mitigate against floods. EYEfi expects to receive further orders from Fujitsu as Transurban expands the rollout in Queensland and other states in Australia to take advantage of lower maintenance costs.

EYEfi's CEO, Simon Langdon, said "We are delighted to have secured our first order from Fujitsu. We expect this to be one of many orders, as our products solve complex problems for large corporations requiring management of millions of physical industrial assets and infrastructure dispersed across the vast Australian landmass. The IIOT market is very large, and we have established products, signed channel partners and excellent relationships with our customers - placing EYEfi in an ideal position to take advantage of this."

EYEfi is also pleased to announce it has received additional orders from the Department of Transport to add several more vehicles to EYEfi Cloud and EYEfi Automated Incident Management system to capture live video, GPS tracking for incident management.

EYEfi receives a fixed fee per hardware device and ongoing monthly SaaS revenue on each device sold. Channel partners Fujitsu and Telstra are working with EYEfi on a growing sales pipeline with a number of customer proposals expected to advance to signed orders.

About EYEfi in detail:

EYEfi is connecting the world's people and devices with the world around them, in real-time and in ways not previously possible.

EYEfi is a software and electronics engineering company that has developed, patented and commercialized an innovative spatial technology; spatial, predictive, approximation and radial convolution (SPARC) and an associated product suite, that turns sensors, cameras and smartphones (fixed, mobile, airborne, portable or handheld) into geo-target co-ordinate acquisition devices.

EYEfi has also developed IIoT sensor hardware and associated cloud software, as a second pillar within its product offering. EYEfi Cloud is a next generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.

On behalf of the board of directors of

EYEFI GROUP TECHNOLOGIES INC.
"Simon Langdon"
Simon Langdon, CEO

For more information contact:

Simon Langdon
Chief Executive Officer
EYEfi Group Technologies Inc.

Mark van der Horst
Investor Relations

EYEfi Group Technologies Inc.
Telephone: +1 (604) 760 7604
Email: mark@galecapital.com

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

FORWARD LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.

The forward-looking statements are based on the reasonable assumptions, estimates, opinions and analyses of management made in light of its experience and perception of historical trends in the delivery of services through its Cloud, current conditions, expected future developments and other factors management of the Company believes are appropriate, relevant and reasonable in the circumstances at the date that such statements are made. All of these assumptions, estimates and opinions will necessarily be subject to change due to future events and other circumstances outside the control of the Company, including the effect of the Covid 19 virus. The Company has based the forward looking information on various material assumptions, including: despite the threat of the Covid 19 virus, the Company will sustain or increase profitability although on a slower projection then previously planned, and will be able to fund its operations with existing capital and projected revenue from its current agreements with its Channel Partners; the Company will be able to attract and retain key personnel in future if required; the general business, economic, financial market, regulatory and political conditions in which the Company operates will remain positive as its services can be provided in the Company's Cloud although deliver of its hardware may be affect by supply chain disruptions; that the general regulatory environment will not change in a manner adverse to the business of the Company; the tax treatment of the Company and its subsidiary will remain constant and the Company will not become subject to any material legal proceedings; the economy generally; competition, and anticipated and unanticipated costs.

Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.

The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

SOURCE: EYEfi Group Technologies Inc.



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https://www.accesswire.com/635712/EYEFI-Secures-First-Order-from-FUJITSU-and-Further-Orders-from-The-Department-of-Transport



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