Intrinsyc Receives Order Valued at US$882,000 From New Client
Open-Q™ 835 Edge AI Computing Module to Bring Artificial Intelligence Capabilities to Intelligent Medical Device
VANCOUVER, British Columbia, Oct. 08, 2019 (GLOBE NEWSWIRE) — Intrinsyc Technologies Corporation (TSX: ITC and OTCQX: ISYRF) (“Intrinsyc” or the “Company”), a leading provider of solutions for the development of embedded and Internet of Things (“IoT”) products, today announced the receipt of an order from a new client, that is valued at US$882,000. The order is for the purchase of the Company’s Open-Q™ 835 edge AI computing modules that will bring artificial intelligence capabilities to an intelligent medical device. Delivery will begin in the fourth quarter of fiscal year 2019 and extend through fiscal year ending December 31, 2020.
“We are pleased to expand our base with another client building a leading-edge IoT product that will be powered by one of our family of Open-Q™ Edge AI computing modules,” stated Cliff Morton, Vice President, Client Solutions. “The Open-Q™ 835 system on module offers support for the latest Machine Learning frameworks and image processing and is an ideal platform for premium-performance Edge AI applications.”
This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involve risks and uncertainties. Such forward-looking statements or information may include statements regarding the Company’s future plans, objectives, delivery performance, revenues, or the company’s underlying assumptions. The words “may”, “would”, “could”, “will”, “likely”, “expect,” “anticipate,” “intend”, “plan”, “forecast”, “project”, “estimate” and “believe” or other similar words and phrases may identify forward-looking statements or information. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Company’s actual future results or performance may be materially different. Risk factors are described in the Company’s reports filed on SEDAR, including its Annual Information Form and financial report for the year ended December 31, 2018. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
About Intrinsyc Technologies Corporation
Intrinsyc provides comprehensive product development services, as well as the industry’s highest-performance edge AI computing modules, to enable rapid commercialization of intelligent Internet of Things (“IoT”) products. Intrinsyc has successfully delivered over 1,400 client projects including sophisticated consumer and industrial IoT products like: robotics, connected cameras, smart displays, augmented reality, smart buildings, wearables, in-vehicle infotainment, and many others. Intrinsyc’s Open-Q™ System on Modules incorporate the industry’s most advanced processor technology from Qualcomm Technologies Inc., and help OEMs to rapidly bring industry leading products, with rich functionality and high performance, to market. Intrinsyc is publicly traded (TSX: ITC and OTCQX: ISYRF) and is headquartered in Vancouver, BC, Canada; with additional product development centers in Taipei, Taiwan, and Bangalore, India.
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Intrinsyc Technologies Corporation