mCloud Technologies Corp. announced it has commenced the next phase of its AssetCare implementation with Mercedes-Benz Grand Prix Limited at Brackley, UK – the home of the Mercedes-AMGPETRONAS Formula One Team. This next phase expands the multi-year scope of the commercial arrangement and took effect on February 21, 2023.

In this next phase, mCloud brings the full suite of AssetCare's capabilities to bear in support of the Mercedes-Benz Grand Prix vision of making Brackley one of the world's most sustainable campuses in sport. The expanded scope of the AssetCare agreement leverages the Company's AI and analytics capabilities to continuously optimize and manage energy-intensive facilities and assets operated onsite, including HVAC systems and chillers along with the full campus portfolio of industrial assets. The implementation roadmap also includes connectivity and optimization of new planned constructions at Brackley and extended EV charging capabilities.

mCloud indicated the expanded scope substantially increases the significance of Mercedes-Benz Grand Prix as a multi-year AssetCare customer of the Company under standard terms.