Iota Communications and P3 Connected Cities Form Partnership to Address Smart City Opportunities
NOV. 19, 2020
ALLENTOWN, PA / ACCESSWIRE / November 19, 2020 / Iota Communications, Inc. (OTC PINK:IOTC) ("IotaComm" or the "Company"), a wireless communication and data analytics software company, is pleased to announce a partnership with P3 Connected Cities ("P3CC"), a joint venture between Connected Cities Integrators, Inc. and P3 Smart City Partners, Inc., global leaders in the development of smart, resilient, and economically sound data, technology, and infrastructure solutions.
IotaComm and P3CC will bring together their respective technologies and expertise to deliver unique sets of urban data solutions. The companies will work in close collaboration to focus on delivering economically-sustainable "smart city" solutions that provide enhanced connectivity and economic growth opportunities for the municipalities, utilities and mixed-use/mixed-income communities they partner with and ensure the technical and financial objectives of these innovative programs are being achieved. Both companies will drive increased revenue by implementing these new smart city solutions with current clients as well as new deployments for cities and communities within their existing pipeline.
The smart city concept integrates information and communication technology (ICT), and physical devices such as cameras and a variety of sensors connected to IoT ("Internet of Things") communication networks designed to optimize the efficiency of city operations and services and enable improved citizen engagement with their community. Smart city technology allows city officials to monitor and control city assets and infrastructure and gain enhanced situational awareness of the urban space to support improved public safety. ICT is also used to enhance quality, performance, and interactivity of urban services, to reduce costs and resource consumption and to increase engagement between citizens and government.
Together, IotaComm and P3CC will engage with municipalities, utilities and mixed-use/mixed-income communities to deliver solutions addressing:
City Operations and Services
Urban Mobility & Transportation
Education & Technology-based Learning
Improved Quality of Life
Terrence DeFranco, President and Chief Executive Officer of Iota Communications commented, "We are thrilled to partner with P3 Connected Cities, industry-recognized experts specializing in data expression, visualization, and monetization solutions for cities around the world. Their mission of helping communities access, unlock, and extract maximum revenue and strategic value from their data is a perfect fit for our connectivity and data analytics solutions and is an indication of how we uniquely bring value to cities with our low-power wide area network capabilities based on licensed spectrum. This relationship with P3CC opens immediate business opportunities for IotaComm and we look forward to delivering an exceptional customer experience for cities across the US."
Jack Hanley, Managing Partner of P3 Connected Cities, stated, "We are extremely excited to work closely with Iota Communications as their network expertise and capabilities solve numerous critical pain points in delivering successful smart city deployments. The unique asset that the IotaComm team has assembled is ideal for infrastructure-level smart city applications which enables us to develop significantly more cost-effective solutions for the communities we serve."
According to a report published in February, 2020 by research firm Grand View Research, the global smart cities market size was $83.9 billion in 2019 and is expected to grow at a compound annual growth rate of 24.7% from 2020 to 2027.
About P3 Connected Cities
P3 Connected Cities (P3CC) a joint venture between Connected Cities Integrators, Inc. and P3 Smart City Partners is a global, smart city infrastructure development, advisory, and investment firm. With a combined 150 years of Smart City experience, P3CC was established to unlock social, environmental, and economic opportunities for local municipal partners by developing and implementing broadband and Smart City programs. P3CC focuses on developing smart, resilient, and economically sound data, technology, and infrastructure solutions. P3CC's strength relies on identifying, designing, funding, and operating Smart City implementations that include communication networks, transportation, security, energy efficiency and media solutions that positively impact cities' ability to generate cost savings opportunities through improved municipal operational efficiencies and alternative revenue streams.
For additional information on P3 Connected Cities, please visit: http://p3cc.com.
About Iota Communications, Inc.
Iota Communications, Inc. (OTC: IOTC) is a wireless communication and data analytics software company that provides Internet of Things solutions which optimize energy efficiency, sustainability and operations for commercial customers. Our company is built on a foundation of a portfolio of FCC-licensed spectrum that is used to enable low-power, wide area connectivity, which serves as a unique capability in our Smart Building and Smart City data analytics applications. Our connectivity and analytics solutions help our customers achieve higher returns on assets and investment and more efficient and productive operations.
For more information about Iota Communications, Inc., please visit: https://www.iotacommunications.com
This press release may contain "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our beliefs regarding the role that IoT will play in the future, our ability to implement our strategic goals, our ability to raise capital and reduce costs, and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include, but are not limited to: risks related to the acquisition and integration of the assets we acquired from Solbright Group, Inc., risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
Corporate & Investors:
Iota Communications, Inc.
600 Hamilton Street, 10th Floor
Allentown, PA 18101
SOURCE: Iota Communications, Inc.