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Enterprise Group Inc (2)
Symbol E
Shares Issued 55,392,874
Close 2018-04-24 C$ 0.56
Market Cap C$ 31,020,009
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Enterprise to add decentralized ledger to StarChain

2018-04-25 10:00 ET - News Release

Mr. Leonard Jaroszuk reports

ENTERPRISE EQUIPMENT CONTROLS & AUTOMATION LOWERS COSTS, INCREASES REVENUES

Enterprise Group Inc. has further enhanced its proprietary dispatch and 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 modules 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, artificial intelligence and Internet of things. 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, senior vice-president, 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 (microcontroller/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 the company's rental assets.

About Enterprise Group Inc.

Enterprise Group 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.

We seek Safe Harbor.

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