Vancouver, British Columbia--(Newsfile Corp. - July 6, 2021) - TraceSafe Inc. (CSE: TSF) ("TraceSafe"), a global leader in wearable safety tech and connected workforce solutions, including large-scale venue management and asset tracking, is proud to announce a one-year agreement with Oil Search, a responsible energy company and Papua New Guinea's largest single investor.
TraceSafe's solution will include new high-capacity BLE beacons and the cloud platform. The wearable technology will be used to ensure health and safety of Oil Search employees, contractors and site visitors in their Papua New Guinea oil field operations. The agreement includes two subsequent annual term renewal options.
"The industrial IoT market (IIoT) is predicted to reach $1.11 Trillion USD by 2027 as the industry is undergoing an IoT revolution," said Wayne Lloyd, CEO of TraceSafe. "We are excited to see our IoT products improve operations and enhance safety in the industrial sector."
About Oil Search
Oil Search is one of Papua New Guinea's largest companies. Established in 1929, their Purpose is to deliver low cost, high value energy that meets society's needs. Oil Search has a focused portfolio comprising of 29% interest in the PNG LNG project, operated oil and gas assets in PNG which contribute 20% of PNG LNG gas and produce all of PNG's oil, and 22.8% interest in Papua LNG, a brownfield LNG growth opportunity.
About TraceSafe
TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low-power Bluetooth beacons and enterprise cloud management. TraceSafe's leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe's patented contact tracing bracelet has already been deployed in mission-critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading-edge solutions for Enterprise, Healthcare, Education, Government, and large-scale venue management.
For further information, please contact:
Wayne Lloyd, CEO
+1 (604) 629-9975
wayne@tracesafe.io
Emily Graham, CFO
+1 (604) 356-8111
emily@tracesafe.io
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on TraceSafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding scaling of the business of TraceSafe, TraceSafe's future growth and rate of future expansion, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
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