Emerging supply chain technology solutions company, Spotlite360 Iot Solutions Inc. has announced a contract for providing design services, equipment and technology for an indoor cannabis cultivation and environmental control operation.
Market Reaction
On Thursday, SPLTF stock ended flat at $0.1110 with more than 5K shares, compared to its average volume of 3K shares. The stock moved within a range of $0.1110 – 0.1110 after opening trade at $0.1110.
SpotLite360 IOT Solutions, Inc. Announces Contract With Cultivation Company
This Arizona based implementation has already commenced. The technology solution is to monitor and manage several environmental controls including air flow, humidity, temperature, lighting and process automation. Installed sensors and Internet of Things (IoT) connected devices provide critical real-time data to efficiently control and monitor environmental conditions and drive process efficiencies. Contract value is estimated to be approximately USD $10 million and should be fully recognized within fiscal year 2022.
The company has also recently announced the acquisition of a majority interest in E3 Service Group and the combination of these companies and technology portfolios began last year. The concept of “environment-as-a-service” drives a philosophy of optimization using technology for real-time data capture and analytics. All devices are IoT enabled and can be connected in a smart-environment for near real-time decision making and continuous process improvement.
Bryson Guyer, founder of E3 Service Group stated that the real-time IoT data collected, lets them continuously improve the design and implementation process. With experience in over 300 installed facilities, they can generate consistent product quality and provide a more efficient operating environment.
Key Quote
Bryson Guyer, founder of E3 Service Group added, “We are leveraging years of expertise in designing and developing state of the art solutions to generate optimal cultivation environments. The real-time IoT data we collect allows us to continuously improve our design and implementation processes. Now with experience in more than 300 installed facilities our customers depend on us to help them generate consistent product quality and a more efficient operating environment.”
