ThermalPass and Internet of Things Inc. Featured on Reuters TV
Toronto, Canada, July 2, 2020 - Internet of Things Inc. (TSXV: ITT) (OTC: INOTF) (FRANKFURT: 71T) ("ITT Inc." or the "Company") www.iotintl.com, a software and solutions provider in the artificial intelligence and industrial IoT markets, is pleased to announce that its fever detection system, ThermalPass www.thermalpass.com was featured on Reuters TV as one of the go-to thermal body temperature scanners to help economies around the world start to open up post-COVID-19. The story is titled, "Demand for thermal devices skyrockets in coronavirus times." Reuter's is seen and read by over 1 billion people a day and boasts more than 33 million unique monthly visitors.
The report focuses on companies looking to remain open and protect workers which has sent orders of thermal-based fever detection systems skyrocketing. The article goes on to say how ThermalPass is a medical grade touchless sensor body temperature device that scans the body 20-times per second looking for a temperature threshold level typically above 98.6 degrees Fahrenheit.
ThermalPass, developed jointly by AI Labs Inc., a wholly owned subsidiary of ITT Inc. and Commersive Solutions Corp, is designed to enhance public safety by providing fast, touch-free scanning of multiple people at entranceways of high-traffic, public locations to reduce the risk of spreading COVID-19 and other fever-bearing contagions. Traditional thermal camera solutions come with privacy issues and are very expensive, costing as much as $15,000 compared to ThermalPass, which provides more accurate and anonymous readings, starting at $6,900.
"ThermalPass is an innovation inspired out of necessity to help get this crippled economy back to normal, to get people out of their houses, to get people in malls, to get people back in the office in a post-COVID world," said Michael Lende, president and CEO of ThermalPass' parent company Internet of Things Inc. "Unlike camera solutions, our touchless medical grade sensor based ThermalPass does not breech privacy nor social distancing, as it does not require human intervention, and is more accurate with 400 temperature readings per second. People do not have to slow down as they go through ThermalPass."
The global thermal-imaging market is estimated to grow to $4.6 billion by 2025 from $3.4 billion this year, according to research firm Markets and Markets. International airports were the early adopters, preferring camera-mounted scanners that would not slow down security checks on passengers.
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About Internet of Things Inc. (TSX VENTURE: ITT) (OTC: INOTF) (FRANKFURT: 71T):
Internet of Things Inc. is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. Its Weather Telematics Inc. subsidiary uses patented air quality monitoring sensors to provide predictive weather risk information to the insurance, logistics, fleet management and public safety sectors. The Company's R&D division, AI Labs Inc., develops new products that solve real-world business problems. The joint venture with Commersive Solutions Corp. is developing innovative technologies for use in various public spaces, starting with the ThermalPass™ fever detection system.
Cautionary and Forward-Looking Statements:
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: ThermalPass achieving the commercial results anticipated by the Company; market demand for ThermalPass; and, other 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.
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