Toronto, Ontario--(Newsfile Corp. - October 5, 2020) - SustainCo Inc. (TSXV: SMS) (the "Company" or "SustainCo") is pleased to announce that it is seeking to expand its service and product offerings to include additional proptech solutions for healthy building solutions and services.
Proptech - real estate technologies focused on building operational efficiency, services and safety - is digitally transforming real estate through innovation in commercial, industrial and residential sectors. Artificial intelligence, machine learning, big data, Internet of Things and the cloud are providing significant value for property owners and tenants alike as new technologies are introduced and adopted in a real estate setting. These technologies, some of which are already provided by SustainCo, offer increased efficiency and safety through the elimination of existing costs in the sector, the improvement of design and operations in new and existing buildings, and in the operations and maintenance of real estate assets.
The COVID-19 pandemic has, in particular, resulted in property owners seeking out proptech solutions to safeguard air quality and to increase sanitation efficacy. SustainCo's additional service offerings will be geared to meet these immediate and longer term needs, and will be integrated into the Company's existing air control and sustainability systems which will continue as a core deliverable. The Company will utilize its operating subsidiary, VCI Controls Inc. ("VCI"), which delivers HVAC and building control services, to roll out a number of proprietary proptech solutions which will integrate into existing building controls systems. In pursuit of additional proptech product offerings, SustainCo may seek potential acquisitions, joint ventures, technology licensing opportunities, and partnerships.
"We view the provision of proptech services as a natural expansion of our business, as the real estate industry undergoes a digitization transformation," stated Chris Hazelton, Chief Executive of Officer of SustainCo Inc. "Today, our customers need help to better mitigate on-site operational risks that have changed in recent years, including as a result of the COVID-19 pandemic, and further integrating proptech with our building control services is critical to meeting those demands."
About SustainCo Inc.
SustainCo, which conducts its operations through its wholly-owned subsidiary, VCI CONTROLS Inc. ("VCI"), is a leading supplier and integrator of proptech healthy building solutions and services. The Company is an industry leader in the development of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, SustainCo has offices across Canada including, Halifax, Montreal, Ottawa, and Vaughan. For more information, visit www.sustainco.ca.
Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Forward-looking statements, specifically those concerning future performance and other statements that are not historical fact, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange (the "Exchange") and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Trading in the securities of the Company should be considered highly speculative. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
Neither the Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Chief Executive Officer
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