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
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. 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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