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iQSTEL Announces 100% Acquisition of IoT Labs Mexico along with Its Star Product “IoT Smart Gas Platform”

May 12, 2020 / Ankur Saini
SHARESHARESHARE

  • The IoT Smart Gas Platform consists of in-field equipment, mobile application, and backend software platform, that allows for remote monitoring of LP gas tanks.

  • According to QYResearch, the global IoT market is expected to reach $1 trillion by 2025.

  • iQSTEL continues to expand 5G networks throughout Latin America and beyond, facilitating rapid IoT deployments across large areas of the population.


iQSTEL Inc. is pleased to announce the 100% acquisition of IoT Labs Mx SAPI (“IoT Labs”) has been completed, an Internet of Things Technology Developer, with its Star Product “IoT Smart Gas Platform”.

The IoT Smart Gas Platform consists of in-field equipment, mobile application, and backend software platform, that allows for remote monitoring of LP gas tanks. This is a consumer install-able device that provides real-time gas tank level monitoring and refilling requests via a smartphone app through the company’s gas partners. IoT Labs’ patent-pending device works anywhere there is a radio signal and/or cellular connection, and once connected to the tank, can be left unattended for over 2 years before battery replacement is needed.

 

IoT Smart Gas units are in production, with more than 100 in field use already. The existing infrastructure access that iQSTEL allows us to benefit from will assist in the rapid commercialization process across Mexico, Latin America, and later this year through Europe and Canada,

Francisco Bunt, CEO of IoT Labs Mexico.



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According to QYResearch, the global IoT market is expected to reach $1 trillion by 2025. The advent of 5G is a major driving force behind this rapid growth. iQSTEL continues to expand 5G networks throughout Latin America and beyond, facilitating rapid IoT deployments across large areas of the population.

Mr. Iglesias commented: “We have been looking for a high value IoT product for customers along with strong corporate margins and IoT Labs MX along with their IoT Smart Gas Platform is a perfect fit. This platform will be disruptive in the gas industry, significantly increasing efficiencies. IoT Labs and the iQSTEL team are already designing upgrades to expand the platform from LP gas tanks to general storage tanks, including gasoline, beverage, water, and more.”

 

The IoT marketplace, part of our 21st century enhanced telecommunications corporate vision, is seeing demand explode. The infrastructure to support this growth is being deployed by iQSTEL throughout Latin America,

Mr. Iglesias, iQSTEL´s CEO concluded.



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About iQSTEL Inc.

iQSTEL Inc. is a US-based publicly listed company offering leading-edge 21st Century Enhanced Telecommunications Services with a focus on a wide range of cloud-based enhanced services to the Tier-1 and Tier-2 carriers, corporate, enterprise, as well as the retail market.