Positive Business Transformation
in FY21 New Products in FY22 Strong Start to 2023
Trusted since 2014 to provide environmental monitoring to many of the largest water infrastructure utilities in the U.S and Canada, infinitii ai (formerly Carl Data Solutions Inc. or the "Company") has evolved into a leader in AI-driven predictive analytics for industrial and Smart City infrastructure applications that rely on time-series data. The company service customers via a trusted partner network that includes engineering and IT services companies like AECOM, Core & Main, Kerr Wood Leidal, SCG Flowmetrix, K2 Geospatial and CSL Services.
infinitii ai software performs real-time analysis, checks flow monitoring status, sets alarms through a single interface, accepts all types of data from any source and offers predictive (what will happen) and prescriptive (what should happen) analytics. Whether it’s real-time, historic, wireless, satellite, SCADA, public data sets including USGS, NOAA and weather forecasts – it doesn’t matter where the data originates, infinitii ai transforms raw data into actionable information.
Positive Business Transformation in FY21
infinitii ai has undergone a positive business transformation during the Fiscal Year ending June 30, 2021, and entered Fiscal Year 2022 poised to launch new products and revenue streams.
New CEO Hired to Undertake Transformation
After serving as a consultant for two months to evaluate its growth potential, in January of 2021 Jean Charles Phaneuf was invited into the Company as CEO by its previous CEO Greg Johnston and the Board of Directors. Phaneuf brings over 25 years of experience with a demonstrated history of leadership success in the technology and investment banking industries.
Financial Foundation Established
In February of 2021, Phaneuf led new funding to establish a strong financial foundation, and the Company announced an over-subscribed Private Placement of $5,601,288, convertible debentures of $250,000, and a $2,000,000 Line of Credit. Some of this funding was used to convert $1,491,000 of corporate debt.
New Management and Simplified Corporate Structure
In March of 2021 Phaneuf recruited a seasoned management team including a VP of Sales and VP of Marketing. He has since added to that team and Johnston remains with the Company as its President, taking on roles in product evangelism, product management advisory and strategic business development.
Phaneuf also simplified a corporate structure that had separate operating companies and subsidiaries with siloed management and financial reporting. The Company now operates as a single operating entity with an associated reporting structure led by the new management team. The objective is faster time to market on new products as well as more rapid progress on business development, sales and revenue results.
Digital Technology Supercluster Project
In November of 2021 the Company successfully delivered a two-year-long Fresh Water Data Commons ("FWDC") project. The project was led by infinitii ai and funded by Canada’s Digital Technology Supercluster in collaboration with Microsoft, Teck Resources Ltd., Living Lakes Canada, the University of Victoria and Genome BC. This project provided infinitii ai with the means to increase its Intellectual Property ("IP") portfolio.
Technology Offering New Revenue Streams in FY22
New technology based on this IP was announced at the Company's Annual General and Special Meeting (“AGSM”) of shareholders held on November 24, 2021. There, the Company announced and demonstrated new products that build upon its existing FlowWorks real-time reporting and analytics software for municipal and industrial and infrastructure. These new software products are supplemented with IP developed during infinitii ai's engagement leading the FWDC project.
Currently being Beta-tested with large enterprise infrastructure customers across North America, the Company plans to launch these products commercially over the course of 2022.
Market Acceptance of New Technology
On February 22, 2022, the Company signed a strategic partnership agreement with Montreal-based K2 Geospatial (“K2”), developers of the JMap spatial analysis mapping integration platform. The agreement formalizes the integration of infinitii ai's latest technology that makes it possible for K2 Geospatial users to collect time series data from multiple sources via Industrial Internet of Things (IIoT) sensors, cleanse and analyze data and perform Artificial Intelligence (AI)-driven predictive analytics using Machine Learning (ML) algorithms. In addition, the integration of technologies will allow users of infinitii ai applications to access an agnostic and scalable mapping platform.
K2 Geospatial’s customer base includes 500 organizations, including more than 350 cities and municipalities, seaports, airports, road authorities and utilities across North America and Europe.
Largest Sale in Company's History
On March 9 the Los Angeles County Sanitation Districts ("LASD") selected infinitii ai's software for real-time reporting and analytics on a wastewater system that services 5.6 million people. The California agency has awarded a two-year contract after which it is renewable on an annual basis. This represented the largest sale in the Company's history.
LASD engineers stated they look forward to exploring new Artificial Intelligence (AI) and Machine Leaning (ML) capabilities once data migration and standardization is complete, also saying they have a big push for this advanced technology.
Company Changes Corporate Name to infinitii ai
On Oct. 4 the Company announced it had rebranded and changed its company name to infinitii ai. The new brand is supporting a multi-product predictive analytics software portfolio focused on Machine Learning (ML) capabilities. On Oct. 7, infinitii ai’s new stock ticker symbol on the CSE changed from CRL to iai. The infinitii ai name embodies an extensive product portfolio for Machine Learning and signals exciting business transformation. The revitalized brand reflects a new era of growth for the Company as it markets innovative AI-driven software that empowers customers and partners to make their data smarter.
Core & Main Adopts infinitii flowworks for Core+ Platform
On December 19, 2022, the Company announced it signed a U.S. distribution agreement with Core & Main Inc., which had USD$5 billion in revenue in its FY21. Core & Main's president stated that its national metering team had been actively engaged with infinitii ai over 14 months before choosing infinitii flowworks software for its our Core+ wastewater solutions. Core and Main's senior director of National Sales also stated that the data neutrality provided by infinitii flowworks gives a required level of comfort to Core & Main's other technology and manufacturing partners that allows Core & Main to truly innovate with their technologies versus being locked in or locked out from utilizing strategically important data.
New Record Sale to Region of Peel Starts 2023
On January 23, 2023, through a strategic partnership with SCG Flowmetrix Technical Services, infinitii ai made the first sale of its infinitii flowworks pro Machine Learning software as part of the project for the Region of Peel, Ontario. This represents a new record transaction for infinitii ai as part of the SCG Flowmetrix contract to provide Consulting Services for Flow and Rainfall Data Delivery. The Region of Peel provides water and wastewater services to 1.5 million residents and over 175,000 businesses in the City of Brampton, City of Mississauga and Town of Caledon, Ontario, and handles 240 billion litres of water per year, equivalent to 263 Olympic swimming pools each day, through 3,723 kms of pipe.
The Region of Peel is also deploying infinitii auto qa/qc to perform Quality Assurance and Quality Control on any sensor data outliers that may distort results or trigger false alerts, and infinitii auto i&i for detailed analysis of storm events. Due to this record sale, infinitii flowworks pro will be operational in one of Canada’s fastest-growth municipalities.
Contact Investor Relations
Please contact us to learn more about the infinitii ai investment opportunity.