RANCHO SANTA MARGARITA, CA, Dec. 06, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Power Americas Resource Group Ltd. (OTC: PARG) (the “Company” or “PARG”), a publicly traded, fully reporting emerging growth company commercializing its “Digital Twin” technology for the international construction industry, is pleased to provide a brief explanation of the Company’s mission and plans for 2023.
The Company’s overarching goal is to be ascendant in the rapidly growing “Digital Twin” sector of modern construction. A recent report postulates that the Digital Twin market could grow from $6.9 billion USD in 2022 to $73.5 billion in 2027, with a CAGR growth rate of 60.6% from 2022-2027 (across all industries.)
Digital twin technology lets the real world coexist with the digital world by embedding real-time data. The digital twin visualizes the current state, simulates the future state, and provides a platform for optimization. By linking the right people to the right data and the right processes, engineers gain 360 degree insights. They can then quickly make decisions about the actions and strategies needed to enable sustainable performance improvements.
A digital twin facilitates users to predict problems early, can be used as a basis for simulating scenarios, and is an opportunity to design improved controls. Digital twin technology, with BIM data at its core, is helping engineers gain control over their assets.
The benefits of Digital Twin technology in the construction industry are myriad, and given the scale of this industry, highly compelling for a commercial revenue model.
Power Americas Resource Group Ltd. is intent on securing its place in this burgeoning industry with what it believes is cutting edge technology and precision execution. The Company’s mission is to become an industry leader vis-à-vis the proprietary creation of Digital Twin solutions that can save time and cost in the construction process by avoiding project timeline overruns, budget overshoots and save an estimated 7% - 18% of the total construction cost.
Further, the Company will provide a CDE (Common Data Environment) for construction industry professionals to manage the three stages of a building’s life cycle: Plan/Design, Build/Construct,Maintain/Operate.
In a perpetual evolution of the Company’s technology and application, Power Americas Resource Group Ltd. intends to leverage a robust and diverse suite of modern, cutting-edge technology such as AI/ML, Digital Twin, Metaverse, IoT and Blockchain to achieve a robust, scalable, secure and efficient platform accessible to all stakeholders from any device, anywhere, any time.
“Power Americas Resource Group Ltd. is extremely well-positioned to pursue market share in this enormous opportunity,” stated Mark Croskery, CEO, Power Americas Resources Group. “Estimates for the Digital Twin marketplace are robust and in line with our own beliefs for growth. Our goal is to quickly execute an elegant business plan with significant near term revenue potential using the technology and leadership we have already developed to deliver value to our shareholders in as expeditious manner as possible.”
ABOUT US:
Power Americas Resource Group Ltd. (PARG) is the owner of various proprietary assets and intellectual property collectively known as "Twin Infra". Twin Infra is a complete IT -- SaaS solution for the Construction/Infrastructure industry based on the concept of "Digital Twin". A Digital Twin is a virtual representation of an object or system that spans its lifecycle from concept to retirement. It is manifested as an Analytical/Digital or 3D Model and is updated from real time-data captured by people or Systems, that is fed by people, systems, equipment, or sensors to help in streamlining, decision making and optimization of the construction, management or maintenance processes. The Twin Infra module is an integrated SaaS based cloud platform to manage data models, people, process, and assets throughout the lifecycle of a construction project. The Twin Infra module has project management, process management, design data management and predictive analytic features to anticipate and forecast in all the stages of Construction/Infra from Design to Handover and maintenance. It works on public, private, and virtual cloud infrastructure and uses Artificial Intelligence for operational insights and efficiency.
SAFE HARBOR FORWARD LOOKING STATEMENTS:
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected revenue, contracts, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC) and on the OTC Disclosure & News Service (OTCDNS). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC and/or OTCDNS. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and secure construction contracts and the necessary assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC and/or OTCDNS filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business in the construction industry may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.
Company Contact Information:
Principal Executive Offices:
3350 SW 148th Avenue
Suite 203
Miramar, FL 33027
(888) 507-4751
www.poweramericas.net
info@poweramericas.net
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