NEW YORK, Feb. 11, 2021 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST) today announced entering into a letter of intent (LOI) agreement with a prominent Fortune 500 company and leader within the global chemical industry.
The potential Fortune 500 client is exploring a potential business engagement with iQSTEL's Technology Division subsidiary, IoT Labs (www.iotlabs.mx).
IoT Labs' landmark Smart Gas technology (www.iotsmartGas.com) won the Smart Appliance of the Year award from IoT Break Through (www.iotbreakthrough.com) joining the ranks of other globally recognized industry leaders including Apple, Amazon and General Electric, among other industry leaders (https://iotbreakthrough.com/2021-winners/).
IoT Labs and the Fortune 500 prospect are exploring a joint effort to develop a two-way communication device of Internet of Things (IoT) for the chemical industry (IoT Smart Tank), to include a back and front-end platform to run as a Mobile App.
The parameters of the agreement are structured around an initial rollout of IoT Smart Tank solution (www.iotsmartTank.com) to be deployed on 2500 devices generating a monthly recurring revenue stream.
About iQSTEL Inc (Updated):
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).
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SOURCE iQSTEL, Inc.