#Cannabis Stock News: Arkados (OTC: $AKDS)
Announces Smart Building Pilot for Cannabis Greenhouse
Measurement and Verification, Environmental
Monitoring, Energy Conservation and Sustainability Proof of Concept
NEWARK, N.J. - April 12, 2017 (Investorideas.com Newswire)
Arkados Group, Inc. (OTC:AKDS), a global provider of scalable and interoperable
Internet of Things (IoT) solutions focused on industrial automation and energy
management, today is pleased to announce the signing of a beta site agreement
with Yuma Way LLC, a Colorado-based cannabis grower, to utilize the Arktic™
Smart Building solution to help to optimize conditions in their greenhouse
facility in order to increase revenues and reduce operating expenses.
Leveraging the benefits of the Arktic Energy Measurement and
Verification solution, cannabis growers are able to continually monitor and
measure energy consumption from their greenhouses and facilitate the
implementation of energy conservation measures, such as efficient LED lighting,
renewable energy and others, which can lower energy costs by up to 50%. In
addition, Arkados plans to expand the solution during the pilot to include
additional environmental sensing, such as CO2, humidity, temperature, ventilation
and soil moisture, which growers can analyze to optimize for enhanced yield
results. Lastly, Arkados plans to implement a predictive maintenance capability
during the pilot for detecting potential mechanical issues with heating and
ventilation equipment and irrigation systems, which can result in significant
savings on operating and maintenance costs and major capital expenses in the
case of breakdowns.
Additionally, we believe Arkados Energy Solutions can bring
great value to cannabis growers from its energy services, such as LED lighting
and solar PV systems.
"We are very excited to enter into this beta site agreement
and demonstrate the value that the Arktic Smart Building solutions can bring to
the cannabis growing industry," stated Terrence DeFranco, CEO of Arkados
Group, Inc. "We are working with a highly reputable organization that
understands the benefits of how businesses can leverage the Internet of Things
to improve productivity and efficiency in highly competitive markets. We believe
this pilot is just the beginning of a significant long-term opportunity for
Arkados in the cannabis and specialty agriculture industries and we are
fortunate to have a great partner."
According to ArcView Market Research, the legal cannabis market
grew to $6.7 billion in 2016 and is expected to grow to $22.6 billion by 2021,
a compound annual growth rate of 27%. At the same time, a study by Lawrence
Berkley National Laboratory found that 1% of all electricity consumption in the
US is from indoor marijuana growing operations, or about $6 billion annually
and energy costs are among the most challenging issues for indoor growing
facilities. The combination of the Arktic IoT solutions and energy conservation
services can potentially bring great value to this market in the form of cost
savings and sustainability.
The Company's Quarterly Report on Form 10-Q for the three month
period ended November 30, 2016 is on file with Securities and Exchange
Commission. To access the report, click here.
About
Arkados Group, Inc.
Arkados Group, Inc., through its subsidiaries, is a global
provider of scalable and interoperable Internet of Things solutions focused on
industrial automation and energy management. We execute our business as a
software developer and energy services firm focused on developing unique,
cutting-edge solutions that enable machine to machine communications with
specific applications for building and machine automation. Arkados, Inc., our
technology subsidiary, has developed the Arktic™ software platform, a scalable
and interoperable cloud-based system for sensing, gathering, storing, analyzing
data as well as reporting critical information and implementing command and
control. Our applications currently focus on measurement and verification and
predictive analytics and are expanding to include building and city automation.
Arkados Energy Solutions, our services subsidiary, is a general contractor
providing energy conservation services to commercial building owners and
managers. These services include energy assessments, LED lighting retrofits,
oil-to-natural gas boiler conversions and solar PV system installations. The
companies combine to provide solutions to building owners that increase return
on investment, reduce operational cost and save energy. Arkados® is a
registered trademark of Arkados Group, Inc. For more information about Arkados,
please visit: http://www.arkadosgroup.com.
Forward-Looking Statements
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals, strategies,
future events or performance, and underlying assumptions and other statements
that are other than statements of historical facts. These statements are
subject to uncertainties and risks including, but not limited to, insufficient
working capital, product and service demand and acceptance, changes in
technology, economic conditions, the impact of competition and pricing,
government regulations, and other risks contained in reports filed by the
company with the Securities and Exchange Commission. All such forward-looking
statements, whether written or oral, and whether made by or on behalf of the
company, are expressly qualified by this cautionary statement and any other
cautionary statements which may accompany the forward-looking statements. In
addition, the company disclaims any obligation to update any forward-looking statements
to reflect events or circumstances after the date hereof.
Investor
Contact:
Investor Relations
investors@arkadosgroup.com
investors@arkadosgroup.com
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