mCloud has successfully completed the acquisition of NGRAIN, a leading innovator in artificial intelligence (AI) and 3D augmented reality (AR) software. The deal is set to be fully implemented in the second quarter of 2018, marking a significant milestone for both companies. With this acquisition, mCloud gains access to NGRAIN’s cutting-edge AI and AR technologies, which have already been deployed in high-stakes industries such as aerospace and defense, where precision and reliability are critical.
This strategic move allows mCloud to enhance its AssetCare cloud solution by integrating revolutionary AI and 3D/AR capabilities. These tools will help customers optimize the performance of their key energy assets, ensuring greater efficiency and cost savings. NGRAIN will also expand its product portfolio, bringing new innovations to mCloud’s platform.
One of the most notable clients currently using NGRAIN’s technology is Lockheed Martin. The company leverages NGRAIN’s advanced computer vision and semi-autonomous inspection systems to assess and repair damage on its F-35 and F-22 stealth fighters. This same technology is now being adapted for use in wind energy, where drones conduct high-resolution aerial surveys of wind turbines, and AI analyzes blade conditions to improve turbine output and guide necessary repairs.
According to Russell McMeekin, President and CEO of mCloud, "Turbine blade damage can lead to annual energy production losses of up to 25%. By combining NGRAIN’s AI-driven damage assessment with our internal wind expertise, we are setting new standards for how the industry inspects and maintains assets. This will ultimately benefit asset owners by maximizing performance and reducing costs."
Dr. Barry Po, Senior Director of Product and Business Development at NGRAIN, added, "Since the announcement of this transaction earlier this year, we’ve been working closely with the mCloud team. We are excited to be part of the AssetCare Wind solution and have made significant progress in launching our AI-powered damage assessment capabilities."
With the acquisition now complete, mCloud is well-positioned to deliver innovative, data-driven solutions that will transform the way energy assets are managed. The integration of NGRAIN’s technology into the AssetCare platform is expected to yield measurable results quickly, offering real value to customers around the world.
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