TraceSafe Announces Major Strategic Initiatives in Energy Management and Decarbonization-as-a-Service
March 3, 2022: Vancouver, BC – Tracesafe Inc., (“TraceSafe” or the “Company”) (CSE: TSF), a global leader in location-aware Internet of Things (IoT) platforms for large-scale industrial and enterprise operations, has announced strategic business initiatives and expanded investment in energy management and decarbonization solutions to accelerate growth. According to a recent report, the global energy management market size was USD 19.96 billion in 2019 and is projected to reach USD 41.97 billion by 2027, exhibiting a CAGR of 9.9% during this period. Industrial Energy Management Solutions will grow disproportionately owing to two key factors- an increased regulatory focus on carbon footprint, and inflating energy prices that are driving high operational costs. A deeper dive into the segment reveals that the solutions offering monitoring and control hold the larger share of the opportunity, led by advanced technologies such IoT, artificial intelligence and data analytics.
With the new business initiatives, TraceSafe will support organizations’ environmental and business goals by monitoring and analyzing energy consumption leading to reduced costs and lower carbon impact. The solutions will be built on TraceSafe’s proprietary platform that uses secure data from industrial grade gateways and sensors to present valuable insights on everything from people to processes to assets. The platform will convert granular operational data into measurable carbon metrics to help asset-intensive companies gain visibility of their carbon footprint across the value chain.
“This is the most important and exciting move we have made as an organization since pioneering proximity technology for enterprise safety. The transition to net-zero is inevitable and there is an urgent need for solutions that help companies reduce energy costs and find further business value in decarbonization. We are proud to be at the forefront of this new opportunity,” said Wayne Lloyd, Tracesafe CEO. “With TraceSafe’s proven success in connecting operational ecosystems along with new research and investments, we will help organizations transform their energy usage and accelerate their journey toward net-zero.”
Increased focus on the environmental impact of industrial energy use and greenhouse gas emissions has spurred huge capital investments in climate and ESG tech solutions. BlackRock Chairman Larry Fink’s 2022 letter to CEOs called the decarbonization of the energy and industrial sectors “the greatest investment opportunity of our lifetime.” TraceSafe will prioritize the investment and development of this vertical while continuing to strengthen its enterprise IoT wearable portfolio.
TraceSafe provides Internet of Things (IoT) solutions transforming large-scale industrial and enterprise operations with unique wearables, industrial-grade sensors and award-winning analytics platform. The company’s hardware solutions, powered by advanced low-power bluetooth beacons, work together with its proprietary software to provide mission-critical data enabling safer, efficient and sustainable enterprise environments. Present across North America, Asia and Europe, TraceSafe’s solutions are trusted by leading organizations in healthcare, hospitality, construction, events, education and government.
Wayne Lloyd, CEO
+1 (604) 629-9975
Statements in this news release may contain forward-looking statements that are based on TraceSafe’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
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