TORONTO, ON / ACCESSWIRE / March 9, 2021 / AirIQ Inc. ("AirIQ") (TSXV:IQ), a supplier of wireless asset management services, today announced that it recently received testimonials from two of its heavy equipment customers reporting the successful recovery of stolen assets equipped with an AirIQ device. Both customers operate heavy equipment worth thousands of dollars, and both were able to recover their equipment, with police assistance, using tracking and data location equipment derived from the AirIQ device installed on their equipment.
One of the customers, a leading rental company, reported that AirIQ's technology assisted in the recovery of a bulldozer which was worth approximately CAD$250,000. Given the economical pricing of AirIQ's products and services - the ‘recovery/protection ratio was well worth the money', reported the customer. It worked out to be extremely inexpensive insurance.
"Both customers were extremely happy with the outcome of the recovery process, which was both quick and easy using AirIQ's products and services," stated Mike Robb, President and Chief Executive Officer of AirIQ. "It's stories like these that validate the return on investment when utilizing an AirIQ device on equipment that is very costly to replace," continued Mr. Robb.
AirIQ's heavy equipment solution not only provides engine hours to ensure service and inventory maintenance on heavy equipment, but it also protects these assets, which are often left unattended on job sites, from theft - and provides valuable tracking and location services in real time - day or night.
AirIQ currently trades on the TSX Venture Exchange under the symbol IQ. AirIQ is an intuitive web-based platform that provides fleet operators and vehicle owners with a suite of asset management solutions to reduce cost, improve efficiency and monitor, manage and protect their assets. Services are available online or via a mobile app, and include: instant vehicle locating, boundary notification, automated inventory reports, maintenance reminders, security alerts and vehicle disabling and unauthorized movement alerts. AirIQ's office is located in Pickering, Ontario, Canada. For additional information on AirIQ or its products and services, please visit the Company's website at www.airiq.com.
This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as "hope", "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors, which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of such information, future events or otherwise.
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President and Chief Executive Officer
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SOURCE: AirIQ Inc.