Internet of Things Inc.’s Joint Venture With New Hope Data Appoints Mr. Li Hui Wen as CEO
Toronto and Shanghai, China, March 27, 2019 – Internet of Things Inc. (TSX-V: ITT; OTC: INOTF; FSE: 7iT) (“ITT”, “IoT Inc.” or the “Company”), invests in data-driven industrial IoT companies that deliver significant benefit to the verticals they serve. The Company is pleased to announce that New Hope IoT Intl. Inc. (“JV”) has appointed Mr. Li Hui Wen as Chief Executive Officer.
Mr. Li has more than 20 years of experience successfully delivering technological solutions to large organizations. He held positions of increasing responsibility at IBM before transferring to Bank of Montreal where he, most recently, was Senior Technology Officer and Solution Architect. Mr. Li’s management strength is backed by exceptional technical expertise in big data, robotics, machine learning and artificial intelligence with a focus on end-to-end system integration. He holds master’s degrees in both Engineering and Computer Science from the University of Western Ontario.
“Our Joint Venture with New Hope Data is a valuable and strategic distribution channel into the Chinese market for Internet of Thing Inc., which is critical to our IoT consolidation strategy,” stated Ron Shuttleworth, CEO of IoT Inc. “Hui Wen brings much needed leadership and focus to our JV, which is expected to drive significant value.”
“New Hope IoT Intl. Inc. is a unique ‘Industry 4.0’ opportunity. I am delighted to join the JV company and lead a dynamic team that delivers industrial IoT solutions to businesses in China,” said Li Hui Wen, CEO of New Hope IoT Intl. Inc. “The macro environment for innovative big data solutions remains very strong, with massive infrastructure projects being announced regularly. I am excited to guide the company through its next stage of development and success. The JV has a sound business model and there are several significant growth opportunities for New Hope IoT Intl. Inc.”
About New Hope Group & Shanghai New Hope Data Technology Co. Ltd.
New Hope Group (newhopegroup.com) was founded in 1982 and is a Chinese agricultural and industrial conglomerate with more than 600 subsidiaries in 30 countries, nearly 70,000 employees and annual revenues of over 130 Billion Yuan ($25.7 Billion). Shanghai New Hope Data Technology Co., Ltd., a subsidiary of New Hope Group, is an industrial IoT / ‘Industry 4.0’ solutions provider. They are focused on the digital transformation of factories and supply chains and have a joint venture with Internet of Things Inc.
About Internet of Things Inc.
Internet of Things Inc. invests in data driven industrial IoT companies that deliver significant benefit to the verticals they serve. The Company owns Weather Telematics Inc., has a joint venture channel partnership with Shanghai New Hope Data Technology Co. Ltd., and is headquartered in Toronto, Canada.
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Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company’s other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.