NEW YORK, April 26, 2021 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST) today announced completing the onsite field test of its IoTSmartTank (www.iotsmarttank.com) devices for its previously announced contract with a Fortune 500 Chemical Corporation. iQSTEL's IoTSMartTank.com technology is based on iQSTEL's proprietary and award-winning Smartgas intellectual property.
2,500 Device Installation
iQSTEL is now proceeding with the manufacturing of 2,500 initial devices which are planned for installation at the Fortune 500 Chemical client site beginning in May. After the first 30 days of operation, the installation is expected to expand from there.
Recurring Revenue Stream And Pivotal Profit Contribution
This project is a pivotal opportunity for iQSTEL's Technology Division expected to generate monthly recurring revenue that takes the Division beyond breakeven adding to iQSTEL's overall profit.
Field Test Milestone Successes Include:
- Full connectivity throughout every part of the staging area, including inside the tanks (no faraday cage effect with the surrounding metal)
- Two mounting technologies were confirmed to work with the IoTSmarkTank.com devices
- Avg temps outside of specific hot room applications were within normal operating range
- Device size was appropriate and didn't get in the way of operations
- Recharging opportunities will exist within the operations process even if not common (need one recharge every 3-5 years)
- All measurements were within the IoTSmartTank specifications
About iQSTEL Inc.:
iQSTEL Inc (OTC: IQST) (www.iQSTEL.com) is a US-based publicly-listed company offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 13 countries. The company provides services to the Telecommunications, Electric Vehicle (EV), Liquid Fuel Distribution, Chemical and Financial Services Industries. iQSTEL has 4 Business Divisions: Telecom, Technology, Fintech and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, Global Money One and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, 4G & 5G international infrastructure connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Electric Vehicle Platform, iQ Batteries for Electric Vehicles, IoT Smart Gas Platform, IoT Smart Tank Platform, Visa Debit Card, Money Remittance, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace (Blockchain Platform).
Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
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SOURCE iQSTEL, Inc.