Movement Industries Corporation (OTC: MVNT) Announces Launch of iChem IoT Software
Company Provides Update on Launch of SaaS IoT Product Built for Oil and Gas
HOUSTON, TX, June 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Movement Industries Corporation (OTC PINK: MVNT) (the “Company”) is excited to announce the product launch of iChem. iChem is a fully integrated SaaS (Software as a Service) product with a hardware platform based on cellular and satellite communications modules and allows monitoring and control of all chemical injection assets. iChem could be the launching pad for a wide range of digital oilfield solutions for the future. The backbone of our growth strategy related to this iChem IoT (Internet of Things) software is dependent upon building on our reoccurring service model that is deployable and portable horizontally as well as vertically in our focus market. Mr. Linh Nguyen, CEO of the Company, stated: “We are among the first to release this proven IoT technology into the upstream chemical injections market. We are proud to say that the technology platform was built from the ground up with Movement Industries owning 100% of the code and this SaaS model. iChem is well on its way to becoming a high profit margin generator for the Company.”
Mr. Nguyen adds, “While IoT is now becoming more widespread and adoption rates are increasing, this is one of the first integrations of IoT software to chemical injection monitoring.”
Built intrinsically on a secure architecture, the most important piece is the protocol engine residing on AWS (Amazon Web Services) which is comprised of IoT components that can use push or pull data and multiple communication modules, such as satellite, cellular or radio. In a combination of C#, Java and Python with a special focus on the UI (user interface). The user experience is built around Key Performance Indicator (KPI) monitoring and intracompany social sharing for increased team productivity.
iChem is already used by our clients and there is a big possibility for a major multinational oil and gas company to validate the technology to ensure that it is compliant with their own cyber security protocols.
In closing, Mr. Nguyen had this to say, “We expect the coming year to be a successful year for us in terms of revenue growth, especially recurring revenue with iChem. I would like to thank all our shareholders, investors, employees, customers and partners for the support they have shown us throughout this difficult time. We look forward to an exciting and prosperous rest of 2021 and beyond.”
About Movement Industries Corporation
Movement Industries Corporation invests in emerging growth companies in energy, oil & gas, renewables, agricultural and industrial manufacturing sectors. Movement's executive management team brings over 50 years of experience in the global energy market. The Company’s growth strategy includes deepening products and services offered to existing customers as well as acquiring complementary business units and new customers.
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