Edmonton, Alberta, July 28, 2020 –Titan Logix Corp., (TSX Venture: TLA) (“Titan” or the “Company”), a technology company specializing in advanced technology fluid management solutions, is pleased to announce that it has received funding from Alberta Innovates to assist in the enhancement of the Titan Data System (TDS) and accelerate its commercialization.
Through its Industry r&D Associates Program, Alberta Innovates is funding 75% of the eligible salary for a skilled, highly trained software developer focused on building upon Titan’s API data application, managing development partnerships and supporting the deployment of value adding products. This grant totals $149,000 over a two-year period.
Titan’s TDS provides its mobile tank gauging customers with an automated method to collect the valuable data these systems generate. The data is automated, precise and timely, providing customers a view into their business operations with more resolution and accuracy.
Alberta Innovates invests in high potential, high growth technology/knowledge-based companies focused on bringing innovation to market. Their programs are part of an integrated approach to innovation system support focusing on coaching, community, and capital.
“We are thrilled to have the support of Alberta Innovates for our TDS software development ” said CEO, Alvin Pyke, “This is a major step on our journey to build out our products targeted to Industrial Internet of Things (IIoT) solutions in the supply chain management world. We will continue to search for additional grants to support our efforts.”
About Alberta Innovates
Alberta Innovates is a provincial corporation that invests in research, innovation and entrepreneurship to drive provincial economic growth and diversity. Alberta Innovates provides technical expertise, entrepreneurial advice and support, opportunities for partnerships, and funding to advance the best ideas. They support a broad range of research and innovation activity – from discovery to use. Collaboration is at the heart of what they do – bringing together bright minds and great ideas.
About Titan Logix Corp.
Titan Logix focuses on providing data driven solutions for Supply Chain Management (SCM) of goods and service supplied to the oil and gas, transportation and construction industries. Titan’s telematics products enable data from its mobile level sensor technology to be collected, managed and packaged for business intelligence and control.
Titan’s products are designed to be a part of a complete SCM solution. The ultimate solution consists of Titan’s products integrated with best-in-class data management to enable end-to-end Internet of Industrial Things (IoIT) solutions for its customers’ SCM.
Founded in 1979, Titan Logix Corp. is a public company listed on the TSX Venture Exchange and its shares trade under the symbol TLA.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the company is subject to a number of risks and uncertainties and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our Management Discussion and Analysis in respect of the year ended August 31, 2019 which is available at www.sedar.com. In addition, the occurrence of pandemics, such as the recent outbreak of the novel coronavirus COVID-19 in any of the areas in which the Company, its customers or its suppliers operate could cause interruptions in the Company’s operations.
In addition, pandemics, natural disasters or other unanticipated events could negatively impact the demand for, and price of, oil and natural gas which in turn could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
Chief Executive Officer
Ph: (780) 462-4085
TSX Venture, TLA