“Bomb Cyclone” Burst Pipes and Opens Multiple Multi-Family Beta’s for Balincan USA, Inc.

Rhea-AI Summary

Balincan USA Inc. (OTC: BCNN) announces that its subsidiary, Tekumo, has launched large-scale water conservation and leak detection Beta projects due to recent severe cold weather in the US. The cold snap has heightened awareness of water damage issues, particularly in the Multi-Family sector, where water damage claims can reach 36% of total claims. Tekumo aims to mitigate these risks using advanced metering technology and 24/7 monitoring services. The company's product lines focus on smart device management, real-time risk assessment, and connecting enterprises with skilled resources for system maintenance.

Positive

• Tekumo has initiated multiple large-scale water conservation and leak detection projects due to recent extreme cold weather, enhancing revenue potential.
• The company targets the Multi-Family sector, where water damage claims account for up to 36% of insurance claims, indicating a strong market opportunity.
• Tekumo’s advanced technologies and 24/7 monitoring services can significantly reduce water damage risks for property managers.

Negative

• None.

NEW YORK, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Balincan USA Inc. ("Balincan" or the "Company") announces that Tekumo, a wholly owned subsidiary of Balincan USA, has entered into multiple large scale water conservation and leak detection Beta projects as a result of the unprecedented cold that engulfed the US.

When water freezes, it expands. Vulnerable pipes that aren’t protected burst. When the temperature rises, damaged pipes start leaking hundreds or thousands of gallons of water.

Jarrett Shearin, Risk Mitigation Specialist with Tekumo, said “The recent cold snap has opened several new opportunities in the Multi-Family space. Water is a big problem; this freeze has put addressing such challenges front and center in many property and facility management budgets.” He continued, “Advanced metering technology, smart edge devices, combined with 24/7 monitoring and alerts, solves a lot of these challenges.”

Chris Nichols, Chief Strategist at Tekumo added, “In the Multi-Family space, ISO (Insurance Services Office) data indicates that water damage losses account for as much as 36% of claims paid. These claims are typically from flooding that originates inside the structure rather than external storms. Technology can mitigate a significant amount of this risk.”

Tekumo is founded by a small group of successful entrepreneurs; Strings Kozisek (CEO), Chris Nichols (CSO), Phillip Dignan (President/CFO), and Jacob Beasley (CTO). This team brings a shared vision and shared history. Their previous ventures in the software, managed services, organic material manufacturing, retail and automotive verticals are currently generating over $300M in annual revenue. 

The Company offers three main product lines.

TekumoSMART delivers on the complete service chain for smart connected devices. It installs, monitors and manages sensors, devices gateways, hubs, and data for multiple verticals including Multiple Dwelling Units (MDU’s), Quick Service Restaurants (QSR’s), Assisted Living, Retail, Hospitality, Utilities, Builders, Insurance, and Healthcare – all with 24/7 onsite support.

TekumoIQ provides real-time risk management and process management data from all connected assets, accessible via Tekumo dashboards or directly delivered into any end user ecosystem.

TekumoPRO is a platform that connects enterprises, retailers, and OEM’s with local skilled resources to install and maintain technology systems. It delivers a smarter dynamic workforce, intelligent automation, real-time visibility, and full integration into client service management systems. 

Tekumo is headquartered in Colorado Springs, Colorado.

About Balincan USA, Inc.

Balincan USA, Inc (OTC: BCNN) is an alternative reporting publicly held company that wholly-owns Tekumo LLC.

For more details related to the Company, please see the Company's Current Disclosure filed with OTC Markets on November 14, 2022.

Colorado Springs
Timothy Simpson, Investor Relations
719-900-4535

Safe Harbor:

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The Company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

FAQ

What recent projects has Balincan USA (BCNN) undertaken?

Balincan USA's subsidiary, Tekumo, has started large-scale water conservation and leak detection Beta projects due to recent cold weather.

How does cold weather affect Balincan USA's business?

The cold weather has heightened awareness of water damage issues, providing new opportunities for Tekumo in the Multi-Family sector.

What percentage of claims are related to water damage in the Multi-Family space?

In the Multi-Family space, water damage losses account for as much as 36% of claims paid.

What technologies does Tekumo use for water management?

Tekumo utilizes advanced metering technology, smart edge devices, and 24/7 monitoring to manage water leak risks.

What are the product lines offered by Tekumo?

Tekumo offers three main product lines: TekumoSMART, TekumoIQ, and TekumoPRO, focusing on smart device management and risk assessment.