Affluence Corporation's OneMind Technologies Named Command and Control Software Solution for World's Largest Smart City Project

Rhea-AI Summary

Affluence Corporation (OTC PINK: AFFU) announced that its subsidiary, OneMind Technologies, secured a significant contract to provide command and control solutions for a major smart city project in the Middle East. The contract, which spans multiple years and phases, is expected to generate $5 million in revenue in 2022 from its initial phases. This partnership enhances Affluence's position in the smart city software market, leveraging their Hypervision product. The project commenced in Q4 2021 with further developments planned in Q3 2022.

Positive

• OneMind Technologies secured a significant multi-year contract in the Middle East.
• $5 million expected revenue in 2022 from the project.
• Enhances Affluence's position as a top provider of smart city software solutions.

Negative

• None.

OAK BROOK, IL / ACCESSWIRE / January 19, 2022 / Affluence Corporation (OTC PINK:AFFU), a diversified technology company focusing on innovative Smart Cities, IoT and 5G enhancing technologies announced today that its wholly owned Subsidiary OneMind Technologies has received a major contract to be the command and control solution for one of the world's largest smart city projects in the Middle East. The multi-year, multi-phase contract is a result of a joint sales and implementation effort with two of our large technology partners.

"This is a momentous occasion for Affluence and OneMind Technologies, and in addition to the revenue impact this year and in subsequent years, this sale makes us one of the top Smart City Software Solutions in the market," said James E. Honan, Jr., Affluence's Global CEO. Affluence will recognize $5 million in revenue in 2022 from Phase 1 and Phase 2 of the project. Phase 1 began late in Q4 2021 and Phase 2 is scheduled to begin in early Q3 of 2022. The OneMind Smart City Software Solution is one of the key components of this substantial Smart City project in the Middle East, " said Honan.

"This contract in the Middle East is a testament to our vision and the strength of our Hypervision product," said Stephane Eyme, OneMind Technologies CEO. "We are delighted to be working side by side with our world renowned technology partners. They evaluated several software solutions for this project and chose OneMind because of our ability to take in data in any format and customize the reporting views for all levels of the organization. Our Hypervisor was so well received in this Smart City Project that both partners have included Hypervisor in several ongoing sales campaigns around the world. We are looking forward to announcing more contract awards this year as we plan to continue to add direct and indirect sales channels every quarter," said Eyme.

Ends

About Affluence Corporation

Affluence Corporation (AFFU.PK) is a diversified technology company focused on edge computing and innovative cloud solutions that capitalize on IoT, AI and 5G technologies. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet. https://affucorp.com

About OneMind Technologies SL

OneMind Technologies SL is a wholly owned subsidiary of Affluence Corporation. The OneMind Intelligent IoT solution builder is used to create applications for smart construction and smart city operations. Functioning as systems of systems, OneMind connects data sources to one single point of insight to provide real-time information on operational processes. It is a key component in the enterprise solutions currently being offered by several Fortune 50 companies that resell, distribute, and integrate smart city enterprise solutions. The OneMind Smart City solution is deployed in Barcelona, San Francisco, Guadalajara, Oslo and many other cities throughout the world. For more information go to https://www.onemindtechnologies.com

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Affluence Corporation.

For further information contact Affluence Corporation Investor Relations at 720-295-6409.

SOURCE: Affluence Corporation

View source version on accesswire.com:
https://www.accesswire.com/684564/Affluence-Corporations-OneMind-Technologies-Named-Command-and-Control-Software-Solution-for-Worlds-Largest-Smart-City-Project

FAQ

What is the recent contract announced by Affluence Corporation regarding AFFU?

Affluence Corporation announced a major contract for OneMind Technologies to provide command and control solutions for a significant smart city project in the Middle East.

How much revenue will Affluence Corporation generate from the smart city project in 2022?

Affluence Corporation expects to generate $5 million in revenue from the project in 2022.

When did the smart city project phases begin for Affluence Corporation?

Phase 1 of the smart city project began in late Q4 2021, with Phase 2 scheduled for early Q3 2022.

What technology solution is being provided by OneMind Technologies for the smart city project?

OneMind Technologies is providing its Hypervision product as part of the command and control solutions for the smart city project.