Toronto, Ontario--(Newsfile Corp. - February 8, 2022) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce that it has completed the initial stages of its EV project that utilizes its proprietary AI engine to address the EV charging market. The focus on the EV charging market will help diversify Datametrex's revenue base while providing exposure to a growth sector.
According to the latest report by Allied Market Research titled - Electric Vehicle Charging System Market by product type, mode of charging and charging voltage: Global Opportunity Analysis and Industry Forecast, 2021-2030, the market was estimated at $4.26 billion in 2020 and is expected to register a CAGR of 26.2% till 2030.
The App is using the company's proprietary AI and will work with both commercial and privately controlled charging stations.
- In the case of privately owned charging stations (e.g. strip malls, people's houses), individuals will be able to sign up as a provider of electric charging service(s). Individual providers will be able to set available times, and any other conditions they see fit for using their facilities.
- In the case of commercially controlled charging station networks, the app will monitor these networks for their availability, charging rates, costs, etc.
- In addition to providing the user of the app with the most economical charging station available, the app will advise the user of the best course of action to charge their vehicle based on these factors:
- Charging cost
- Additional duration of travel involved
- Charging speed
- Destination (if known) and additional amenities provided
- Entertainment options nearby while you charge
"Being able to utilize our technology in an emerging market like EV charging is exciting and represents a potential new segment for DM with potentially significant upside," said Marshall Gunter, CEO of the Company.
Datametrex will provide details of this new initiative as it progresses at later date.
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex's mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, Company provides progressive solutions to support the supply chain.
For additional information on Datametrex and other corporate information, please visit the Company's website at www.datametrex.com.
For further information, please contact:
Marshall Gunter - CEO
Phone: (514) 295-2300
Neither the TSX Venture Exchange nor it's Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement on mutually acceptable terms or complete the Transaction in the manner contemplated herein, if at all, that the due diligence of any of the parties will be satisfactory, or that the parties will obtain any required board, shareholder, third-party and/or regulatory or other governmental approvals, if any. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
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