TORONTO, March 07, 2022 (GLOBE NEWSWIRE) -- IBI Group (TSX: IBG) announced today it has taken a minor equity position in Ecosystem Informatics Inc. (ESI), a private company specializing in environmental monitoring, diagnostics and pollution abatement solutions designed to help clients protect the environment and enhance business performance. Similar to IBI Group’s investment in SWTCH, an electric vehicle charging and energy management solutions provider, this investment is reflective of the firm’s commitment to taking action against climate change and improving the environment. The partnership will enable ESI to expand its reach to urban municipalities and businesses around the world mandated to make the changes needed now for a cleaner, more sustainable future.
“Our investment in ESI is aligned with IBI Group’s broader mission to take meaningful action against climate change to create the resilient, connected, smart cities of tomorrow,” said IBI Group CEO, Scott Stewart. “Customizable data-driven solutions are the key to moving towards a net-zero world, and we look forward to working closely with ESI to provide our clients the practical information they need to build smarter, more efficient cities.”
In 2017, ESI began a two-year collaboration with the Ministry of Transportation of Ontario, which resulted in the development of an innovative device to measure environmental pollutants. Since then, ESI has made advancements to its proprietary AI-powered mobile solution that have increased its capacity to accurately capture data across a larger area in real-time. In practice, ESI’s offering allows stakeholders in the oil and gas, agriculture, mining, transportation and civic infrastructure sectors to assess air quality remotely and make informed decisions on operational changes that will affect positive change. Similarly, the sensor technology’s diagnostic capabilities can provide feedback on current climate action initiatives, informing their effectiveness.
“We, at ESI, are delighted to be partnering with IBI Group. We believe that IBI Group is not just an investor but an institutional partner to us and that our partnership will significantly increase ESI's potential to scale in multiple sectors, nationally and internationally. We look forward to a long, productive partnership and exciting times ahead. Together, we will help cities and industries manage their carbon footprint and achieve their sustainability goals,” said ESI CEO and Founder, Shirook Ali, Ph.D.
As urban spaces continue to grow and become more populated, an array of challenges, such as traffic congestion, air pollution and the spread of airborne diseases like COVID-19, will have a major impact on the way we live. By deploying technology that quickly and accurately provides evidence-based intelligence to better comprehend the inter-related scope of these and other problems, urban leaders will be in a better position to make city-building decisions informed by data, not guesswork.
Since IBI Group’s inception, considering environmental, social and governance impacts have been a part of its practice and corporate culture. The firm has developed a series of data-driven solutions, including Travel-IQ, CurbIQ, Smart City Platform and its Advanced Traffic Management System, which will combine with ESI’s sensor technology to provide its clients the capacity to monitor, optimize and disseminate information quickly and effectively. The investment in ESI further demonstrates IBI Group’s dedication to taking action on climate change and leading the way for sustainable, innovative development.
For more information and/or to connect with IBI Group, please contact David Bosworth at david@bullseye-communications.com or 1-416-846-3540.
Caution Regarding Forward-Looking Information
Certain statements in this news release may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and its subsidiary entities, including IBI Group Partnership or the industry in which they operate, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. When used in this news release, such statements use words such as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this news release. These forward-looking statements involve a number of risks and uncertainties.
These risk factors are discussed in detail under the heading “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2020. New risk factors may arise from time to time and it is not possible for management of the Company to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance or achievements of the Company to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as at December 1, 2021. The Company updates these assumptions at each reporting period and adjusts its forward-looking information as necessary.
About IBI Group
IBI Group Inc. (TSX:IBG) is a technology-driven design firm with global architecture, engineering, planning, and technology expertise spanning over 60 offices and 2,700 professionals around the world. For nearly 50 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. IBI Group believes that cities thrive when designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. Follow IBI Group on LinkedIn and Twitter.
About ESI
Founded in 2019, Ecosystem Informatics Inc.™ (ESI) is a technology and innovation company based out of the Greater Toronto Area, Canada. Our next-generation environment monitoring platform is presently focused on ambient air quality monitoring and provides mobile hardware technology integrated with Artificial Intelligence for accurate and reliable monitoring, analytics and reporting systems. Our technology is designed to deliver actionable information to governments, industries, and advocacy groups helping them achieve their environmental and sustainability goals. For more information, visit www.ecosinfo.ca and follow us on twitter @EcosInf and LinkedIn LinkedIn/ecosinfo.
Media Contact:
David Bosworth
BullsEye Communications Inc.
david@bullseye-communications.com
1-416-846-3540
Investor Contact:
Stephen Taylor, CFO
IBI Group Inc.
55 St. Clair Avenue West
Toronto, ON M4V 2Y7
1-416-596-1930
