Vancouver, BC / TheNewswire / December 11, 2018 - Eight Solutions Inc. (TSXV:ES) ("Eight Solutions" or the "Company"), a technology company bringing achievable AI to industrial enterprises, today announced the continued sales momentum of its Cumul8 predictive AI and IoT platform in the Forest Products industry.
Sales are driven through Oper8, a collaboration between the Company and the BID Group, the largest integrated supplier to the wood processing industry and the North American leader in the field. Oper8 is designed to deliver a digital platform specifically tailored for the Forest Products industry that uses Cumul8 as its core predictive analytics technology.
The Oper8 collaboration has grown its customer base to include industry leading operations inside both the sawmilling and pellet segments with installations in seven facilities in 2018 and several more already scheduled for 2019. This installation growth provides a strong foundation of recurring monthly and annual Software as a Service (SaaS) revenue.
Customers such as Georgia-Pacific and West Fraser have each embraced the need for digital transformation within the industry and partnered with Oper8 to make it happen. The implementations have included a range of solutions, from completely new BID turnkey mills to broad facility retrofit applications and custom-designed predictive value models.
The projects entail the connection of live streaming raw machine data from Programmable Logic Controllers (PLCs), IoT sensors, and multiple other sources within a single analytics platform, as well as the creation of data models to generate predictive insights that help multi-level managers and operators optimize mill performance and enhance overall Return on Invested Capital.
According to Rick Wilson, VP of Corporate Development at the BID Group, "Our clients are embarking on the AI journey because they recognize the need for transformation inside the industry in order to remain competitive for the long term. They are on this journey with Oper8 because it is the only complete platform designed specifically for the industry's unique needs by seasoned experts. Our customers are receiving the best of both worlds - the Forest Products industry experience of BID coupled with the innovative AI technology of Cumul8 - to drive overall business performance improvement. We are proud to work with the Eight team to achieve this."
Oper8 is a collaboration between the BID Group and Eight Solutions developed to bring deep and lasting value to our customers through seamlessly integrated hardware, software, and support. Oper8 marries the industry experience, equipment, software, and services of the BID Group with the innovative Cumul8 Artificial Intelligence (AI) technology. The result is a forestry-focused, enterprise-wide, and value-driven predictive analytics solution. For more information, visit oper8.ai.
About BID Group
The BID Group family of companies has over 35 years of experience in providing industry leading solutions for its highly valued customers. Powered by best in class brands Comact, PHL, McGehee, Deltech, Miller, Moco, Vibra-Pro, Tri-Delta, and BID Group Construction, the company provides innovative, efficient and reliable equipment to exceed customer expectations. The ability to provide a complete turnkey package that includes engineering, project management, installation, startup, AI, and after sales service furthers the BID Group companies' strategic value to its customers. The companies have offices in fifteen locations across continental North America. Learn more about BID Group on www.bidgroup.ca.
About Eight Solutions
Eight Solutions is a technology company bringing fast value to data through achievable AI. With a team of Media and Entertainment industry veterans, Eight Solutions brings together the 'fast to excitement' and 'ease of use' philosophies learned from years of producing the world's biggest video games and the experience of handling immense volumes of VFX data while working on Hollywood blockbuster movies. The Eight Solutions product portfolio includes Cumul8, an Industrial Internet of Things (IIoT) and predictive analytics platform providing real-time and predictive insights that help businesses harness and realize operational value from their data; and Jetstream, a secure high speed file transfer application enabling users to focus on their own work product rather than how it is delivered. For more information, visit eightsolutions.com.
On Behalf of the Board of Directors
(signed) "Rory Armes"
Chief Executive Officer, President and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Although Eight believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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