IIOT-OXYS (OTCMKTS:ITOX) on July 27, 2021 announced its partner AinguraIIoT, S.L. won acontract with ArcelorMittal, the largest steel manufacturer in North America, South America, and Europe.
Technology company at the intersection of IIoT, AI & Machine Learning, Edge Computing and Manufacturing Operations, IIOT-Oxys had signed an agreement in March 2020 with Aingura IIOT for leveraging complementary strengths in geographical reach and industry sectors.
Cliff Emmons, CEO of IIOT-OXYS, confirmed the news and congratulated its partner.
Rafael Ibeas, CEO of AinguraIIoT said that the company is looking forward to the contract, representing the first exploratory phase with a vital milestone planned for December, which can result in multi-phase engagement. Ibeas added that the phase will depend on Proof of Concept pertaining to efficiency improvement of specific sub-process in the overall steel manufacturing process.
ArcelorMittal representative said that AinguraIIoT, S.L. was selected for the extensive capabilities as well as experience in giving sophisticated IT/OT systems architecture. The company will provide new generation of Machine Learning analysis algorithms for applications in the steel industry.
Emmons added that AinguraIIoT S.L.’s experience in manufacturing, automotive and steel industries has shared synergies with IIOT-OXYS, Inc.’s achievements in time series data as well as predictive analyses applied to Pharmaceutical Operations.
Ibeas said that IIOT-OXYS is a robust partner and will facilitate in success of the ArcelorMittal contract as well as the future business in Europe, Asia, and the U.S.
Market Reaction:
On Tuesday, ITOX stock gained 14.40% at $0.0143 with more than 64.06 million shares, compared to its average volume of 1.55 million shares. The stock has moved within a range of $0.0143 – 0.0249 after opening the trade at $0.0170. Over the past 52-week, the stock has been trading within a range of $0.0051 – 0.0450.
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