03:48:00 EST Tue 07 Feb 2023
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Datametrex AI Ltd
Symbol DM
Shares Issued 356,166,034
Close 2022-02-07 C$ 0.185
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Datametrex AI talks electric vehicle charging app

2022-02-08 11:02 ET - News Release

Mr. Marshall Gunter reports


Datametrex AI Ltd. has completed the initial stages of its electric vehicle (EV) project that utilizes its proprietary artificial intelligence (AI) engine to address the EV charging market. The focus on the EV charging market will help diversify Datametrex's revenue base while providing exposure to a growth sector.

According to the latest report by Allied Market Research titled "Electric Vehicle Charging System Market by product type, mode of charging and charging voltage: Global Opportunity Analysis and Industry Forecast, 2021-2030," the market was estimated at $4.26-billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 26.2 per cent until 2030.

The app is using the company's proprietary AI and will work with both commercial and privately controlled charging stations.

  • In the case of privately owned charging stations (such as strip malls and people's houses), individuals will be able to sign up as a provider of electric charging services. Individual providers will be able to set available times, and any other conditions they see fit for using their facilities.
  • In the case of commercially controlled charging station networks, the app will monitor these networks for their availability, charging rates and costs.
  • In addition to providing the user of the app with the most economical charging station available, the app will advise the user of the best course of action to charge their vehicle based on these factors:
    • Time;
    • Charging cost;
    • Additional duration of travel involved;
    • Charging speed;
    • Destination (if known) and additional amenities provided;
    • Entertainment options nearby while you charge.

"Being able to utilize our technology in an emerging market like EV charging is exciting and represents a potential new segment for DM with potentially significant upside," said Marshall Gunter, chief executive officer of the company.

Datametrex will provide details of this new initiative as it progresses at later date.

About Datametrex AI Ltd.

Datametrex AI is a technology-focused company with exposure to artificial intelligence and machine learning through its wholly owned subsidiary, Nexalogy. Datametrex's mission is to provide tools that support companies in fulfilling their operational goals, including health and safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through artificial intelligence and health diagnostics, Datametrex provides progressive solutions to support the supply chain.

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