March 9, 2021
Canadian cleantech company mCloud has announced its plans to relocate its headquarters from Vancouver to Calgary in order to better serve its Albertan oil and gas customers. The move emerges from a deal struck with Invest Alberta, a crown corporation that aims to attract investments to the province.
The mutually beneficial partnership was established in a memorandum of understanding. Invest Alberta hopes that this deal will begin to position Alberta as a global leader in cleantech and sustainable energy, while mCloud hopes to accelerate clients’ adoption of its software solutions. mCloud CEO and president, Russ McMeekin, said of the deal: “With the support of Invest Alberta, we will be able to open doors to new strategic relationships with key oil and gas companies across Alberta and help these and many other businesses, locally and globally, improve their ESG standing.”
mCloud’s suite of solutions use AI and analytics to improve sustainability, environmental, social and governance concerns across various energy-intensive assets. mCloud is currently based out of Vancouver with offices worldwide. The company claims to serve 100 blue-chip customers and over 59,000 assets. Following the move, mCloud intends to hire locally in Calgary, and invest more in its IoT, AI and cloud technologies. Last year, mCloud was named one of TSXV’s top 50 performing companies, having just debuted on the TSXV in December 2019. mCloud expects this focus on oil and gas to drive its growth for the year.
Author: Shadi Varkiani