Movement Industries Corporation (OTC: MVNT) Announces Launch of iChem IoT Software
Movement Industries Corporation (MVNT) announced the launch of iChem, an innovative SaaS IoT product designed for real-time monitoring and control of chemical injection assets in the oil and gas sector. The platform utilizes cellular and satellite communications and is built on AWS for robust data handling. The CEO, Linh Nguyen, emphasized the potential for high profit margins and noted that iChem is among the first of its kind in the industry. The company expects significant revenue growth from this product as it scales.
- Launch of iChem, a SaaS IoT product for the oil and gas sector.
- Potential for high profit margins with iChem.
- Built on secure AWS architecture for robust performance.
- Strong market position as one of the first IoT integrations in chemical monitoring.
- None.
Company Provides Update on Launch of SaaS IoT Product Built for Oil and Gas
HOUSTON, TX, June 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Movement Industries Corporation (OTC PINK: MVNT) (the “Company”) is excited to announce the product launch of iChem. iChem is a fully integrated SaaS (Software as a Service) product with a hardware platform based on cellular and satellite communications modules and allows monitoring and control of all chemical injection assets. iChem could be the launching pad for a wide range of digital oilfield solutions for the future. The backbone of our growth strategy related to this iChem IoT (Internet of Things) software is dependent upon building on our reoccurring service model that is deployable and portable horizontally as well as vertically in our focus market. Mr. Linh Nguyen, CEO of the Company, stated: “We are among the first to release this proven IoT technology into the upstream chemical injections market. We are proud to say that the technology platform was built from the ground up with Movement Industries owning
Mr. Nguyen adds, “While IoT is now becoming more widespread and adoption rates are increasing, this is one of the first integrations of IoT software to chemical injection monitoring.”
Built intrinsically on a secure architecture, the most important piece is the protocol engine residing on AWS (Amazon Web Services) which is comprised of IoT components that can use push or pull data and multiple communication modules, such as satellite, cellular or radio. In a combination of C#, Java and Python with a special focus on the UI (user interface). The user experience is built around Key Performance Indicator (KPI) monitoring and intracompany social sharing for increased team productivity.
iChem is already used by our clients and there is a big possibility for a major multinational oil and gas company to validate the technology to ensure that it is compliant with their own cyber security protocols.
In closing, Mr. Nguyen had this to say, “We expect the coming year to be a successful year for us in terms of revenue growth, especially recurring revenue with iChem. I would like to thank all our shareholders, investors, employees, customers and partners for the support they have shown us throughout this difficult time. We look forward to an exciting and prosperous rest of 2021 and beyond.”
About Movement Industries Corporation
Movement Industries Corporation invests in emerging growth companies in energy, oil & gas, renewables, agricultural and industrial manufacturing sectors. Movement's executive management team brings over 50 years of experience in the global energy market. The Company’s growth strategy includes deepening products and services offered to existing customers as well as acquiring complementary business units and new customers.
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Safe Harbor Statement – In addition to historical information, this press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.
FAQ
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