Luokung won bid for Heilongjiang Institute of Technology Smart Campus Project Expanding the IoT Smart Campus market
Luokung Technology Corp. (NASDAQ: LKCO) has secured a USD 1.3 million bid for the first phase of the Smart Campus project at Heilongjiang Institute of Technology, expected to be completed by year-end. The project will integrate various smart systems, utilizing Luokung's SuperEngine Spatiotemporal Data Engine. Subsequent phases are anticipated, with an estimated USD 8 million for the second phase. This establishes Luokung's role as the exclusive service provider, positioning the company favorably for future expansions within the IoT smart campus sector.
- Secured a USD 1.3 million bid for Smart Campus project, enhancing revenue.
- Anticipated follow-up projects worth approximately USD 8 million.
- Established as exclusive service provider, increasing future contract probability.
- None.
BEIJING, Nov. 30, 2020 /PRNewswire/ -- Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), one of the global leading spatial-temporal big-data processing technology companies, a leading interactive location-based services company in China, today announced that it won bid for Heilongjiang Institute of Technology ("HIT") Smart Campus first phase procurement project of USD 1.3 million, which is expected to be completed by the end of this year. The second and third phases will be implemented based on the infrastructure built by the first phase. The amount for the second phase is approximately USD 8 million. As the exclusive service provider for the first phase, it is highly probable that the Company will continue to implement the subsequent phases.
The Company will build a comprehensive digital base for campus smart management and smart educational administration management that integrates software and hardware, all generated data is managed by the "Luokung SuperEngine Spatiotemporal Data Engine". The first phase of the smart campus is a system based on the Internet of Things to integrate cloud desktop system, student sign-in system, faculty and student safety prevention and control system, emergency one-button alert system, environmental monitoring system, high-precision public area pandemic prevention and detection system, and other related smart systems. The construction of subsequent second and third phases of the project will rely on the digital base.
About Luokung Technology Corp.
Luokung Technology Corp. is one of the global leading spatial-temporal big-data processing technology companies and a leading interactive location-based services company in China. It provides integrated DaaS, SaaS, and PaaS services for Internet and Internet of Things of Spatial-Temporal big data based on its patented technology. Based on geographic information systems and intelligent Spatial-Temporal big data, it establishes city-level and industry-level digital twin holographic data models to actively serve smart cities, intelligent transportation, smart industry, LBS. http://www.luokung.com
Business Risks and Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
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SOURCE Luokung Technology Corp.
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