mCloud has successfully completed the acquisition of NGRAIN, a leading provider of artificial intelligence (AI) and 3D augmented reality (AR) software. The transaction is expected to be fully integrated in the second quarter of 2018. This strategic move will bring NGRAIN’s advanced AI and AR technologies into mCloud’s portfolio, enhancing its capabilities in delivering high-performance solutions for critical energy assets.
NGRAIN’s technology is already being used across various high-precision industries, including aerospace and defense. With this acquisition, mCloud aims to leverage these cutting-edge tools to improve asset management and maintenance processes. NGRAIN will now expand its product offerings with revolutionary AI and 3D/AR solutions specifically tailored for mCloud’s AssetCare cloud platform.
One of the key clients benefiting from NGRAIN’s technology is Lockheed Martin. The company uses NGRAIN’s combat damage assessment and repair systems to maintain and prepare its F-35 and F-22 stealth fighters. These same techniques are also being applied to wind turbines, where drones conduct high-resolution aerial surveys, and NGRAIN’s computer vision enables semi-autonomous inspections of turbine blades. This helps correlate blade conditions with energy output and provides precise guidance on necessary repairs.
The goal is to inspect wind farms more efficiently and accurately, reducing costs while improving overall performance. This approach ensures a smoother workflow and better asset management for energy operators.
Russel McMeekin, President and CEO of mCloud, emphasized the importance of this acquisition: “According to research, turbine blade damage can lead to up to 25% annual energy loss. With this acquisition, we will be the only provider offering AI-powered digital blade detection. We aim to set new industry standards in how assets are inspected and maintained. As we move into the second half of 2018 and beyond, the combination of NGRAIN’s AI and our internal wind expertise will allow us to optimize our customers’ asset health budgets.â€
Dr. Barry Po, Senior Director of Product and Business Development at NGRAIN, added: “Since the announcement of this deal earlier this year, we have been closely collaborating with the mCloud team. We are now fully integrated into the AssetCare Wind solution, and significant progress has been made in launching our AI-driven damage assessment capabilities.â€
This acquisition marks a major step forward for mCloud in expanding its technological footprint and delivering innovative, AI-enhanced solutions to its global client base. The integration of NGRAIN’s technologies is expected to deliver measurable results within a short time frame, strengthening mCloud’s position as a leader in smart asset management.
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