#Energy Stock News:
Enterprise (TSX: $E.TO) Equipment Controls & Automation Lowers Costs,
Increases Revenues
ST.
ALBERT, Alberta - April 25, 2018 (Investorideas.com Newswire) Enterprise Group,
Inc. ("Company" or "Enterprise") (TSX:E),
a consolidator of services to the energy sector; focused primarily on
specialized equipment rental, announced today that it has further enhanced its
proprietary dispatch & asset tracking software now known as
"StarChain."
The
Company is adding a decentralized and distributed ledger to its Equipment to
definitively record all machine data as transactions on a secure private
network. The recorded data will be verified via the StarChain Module's and then
uploaded to the StarChain Network.
The
purpose of StarChain is to monitor location, usage and address repair issues in
real time to maximize revenues and vastly lessen equipment downtime from the
Company's extensive pool of rental assets. If a piece of equipment fails or
experiences a mechanical deficiency on a remote project site, StarChain alerts
Enterprise and the fleet manager immediately so that a replacement can be
deployed, increasing revenues, efficiency and asset life.
In
the past, the client had to inform the Company of issues, the equipment would need
to be taken offline and repaired. The technology also ensures the security of
the asset against loss, theft or tampering during its deployment.
While
the benefits of StarChain for Enterprise are immediate, it also guarantees that
clients get superior equipment, service and a new level of control via the
"StarChain" client portal, where Site Managers can schedule, report
and remote control their rented assets via any connected smart device.
Enterprise's StarChain is Already
Well Ahead of the Curve
The
Company sees this technology accomplishment as the baseline for future
developments within ‘Industry 4.0': The current industrial transformation
caused by automation, data exchanges, Big Data, A.I. and IoT. The Company's
evolving technology will exploit smart industry as the foundation for a
competitive rental service.
"We
investigated the benefits of developing a cost effective digital network and
the practical applications that would emerge from its existence. We quickly
realized that if we were able develop a low-cost solution that made significant
financial sense that we could begin offering a competitive and proprietary
rental product which would benefit our business and provide our clients with a
unique service," stated Desmond O'Kell, SVP, Enterprise. "If we want
our assets to communicate with each other we first need to give them the
ability to talk. The advantages and efficiencies "StarChain" brings
to both Enterprise and its client are substantial."
Enterprise
has no plans to sell or license what it sees as an incredible competitive
advantage. The technology will be extended to the operations of future
acquisitions, this will allow for the significant growth, in size and
geographical reach.
The Technology Behind StarChain
Enterprise
has developed its solution utilizing a number of technologies. The software is
built from Node.js, RethinkDB and Material Design that runs on a customized
Linux distro inside the module. The hardware (micro-controller/computer) is
built using a similar architecture to the Raspberry PI, providing Enterprise a
robust interface to its equipment via GPIO (General Purpose Input Output).
With
the module successfully deployed, the current GPS device becomes obsolete,
allowing Enterprise to eliminate significant monthly expenses when installed on
all our rental assets.
About Enterprise Group, Inc.
Enterprise
Group, Inc. is a consolidator of services to the energy sector. The Company's
focus is primarily on specialized equipment rental. The Company's strategy is
to acquire complementary service companies in Western Canada, consolidating
capital, management, and human resources to support continued growth. More
information is available at the Company's website www.enterprisegrp.ca. Corporate filings
can be found on www.sedar.com.
For questions or additional information, please
contact:
Leonard Jaroszuk, President & CEO, or
Desmond O'Kell, Senior Vice-President
780-418-4400
contact@enterprisegrp.ca
Desmond O'Kell, Senior Vice-President
780-418-4400
contact@enterprisegrp.ca
Forward
Looking Information
Certain statements contained in this news release
constitute forward-looking information. These statements relate to future
events or the Company's future performance. The use of any of the words
"could", "expect", "believe", "will",
"projected", "estimated" and similar expressions and
statements relating to matters that are not historical facts are intended to
identify forward-looking information and are based on the Company's current
belief or assumptions as to the outcome and timing of such future events. In
particular, this news release contains forward looking information relating to
the use of proceeds from the CTHA transaction and post-closing adjustments
relating to such transaction. These forward-looking statements are based on
assumptions and are subject to numerous risks and uncertainties, certain of
which are beyond the Company's control, including reliance on contractual
arrangements with third parties, general economic conditions, industry
conditions and competitive factors. Actual future results may differ
materially. The Company's Annual Information Form and other documents filed
with securities regulatory authorities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and other factors
that could influence actual results and which are incorporated herein by
reference. The Company disclaims any intention or obligation to publicly update
or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as may be expressly required by
applicable securities laws.
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