TORONTO, ON / ACCESSWIRE / March 5, 2019 / AirIQ Inc. (“AirIQ”) (TSX-V: IQ), a supplier of wireless asset management services, today announced that it has secured a further order for approximately CAD$545,000 from an existing major rental customer in the United States for AirIQ’s electronic control module (ECM).
“This is the third large order for this device type from the same customer and solidifies the customer’s satisfaction with the performance of AirIQ’s solution, and their confidence in our Company,” stated Mike Robb, President and Chief Executive Officer of AirIQ. “We will ship approximately 75% of the order by the end of this month, with the remainder going out in the following quarter. This order is in follow up to our previously announced large purchase order in August of 2018,” continued Mr. Robb.
AirIQ’s ECM device connects to the vehicle’s electronic control module and delivers real time engine diagnostic codes to AirIQ’s Web Application, AirIQ Fleet™. Customers can then view reports and set up notifications to monitor the health of their fleet, including engine, transmission and emissions related problems. This is a valuable added feature to AirIQ’s existing Fleet Management solution to assist customers to operate their fleet safely, proactively reduce costs and increase the uptime of their vehicles.
By integrating a GPS device with diagnostic capability together with AirIQ’s Web Application, customers can now monitor their vehicle’s engine performance to quickly identify issues, proactively perform maintenance and thereby decrease costs and increase productivity.
AirIQ currently trades on the TSX Venture Exchange under the symbol IQ. AirIQ is an intuitive web-based platform that provides fleet operators and vehicle owners with a suite of asset management solutions to reduce cost, improve efficiency and monitor, manage and protect their assets. Services are available online or via a mobile app, and include: instant vehicle locating, boundary notification, automated inventory reports, maintenance reminders, security alerts and vehicle disabling and unauthorized movement alerts. AirIQ’s office is located in Pickering, Ontario, Canada. For additional information on AirIQ or its products and services, please visit the Company’s website at www.airiq.com.
This news release contains forward-looking information based on management’s best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ’s operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as “hope,” “goal,” “anticipate,” “believe,” “expect,” “plan” or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ’s perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors, which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of such information, future events or otherwise.
For more information please contact:
AirIQ Inc., Michael Robb, President and Chief Executive Officer, (905) 831-6444, firstname.lastname@example.org.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: AirIQ Inc.
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