CoroWare Announces Initial Deployment of Industrial IoT Solution

BELLEVUE, WA--(Marketwired - Mar 29, 2016) - CoroWare, Inc. (OTC PINK: COWI) announced today the initial deployment of an RFID-based Industrial Internet of Things (IIoT) solution that significantly improved logistics management and throughput for an integrated seafood processor.

CoroWare served as a systems integration contractor to design and implement an RFID-based solution that could improve the accuracy and throughput of an existing logistics management system that includes automated packaging and robotic palletizing.

The initial deployment involved the installation and testing of 3rd party RFID hardware, including RFID antennas, specialized RFID tags that operate well at very low temperatures; and embedded software that integrated the 3rd party RFID hardware with existing programmable logic controllers (PLCs) that control palletizing robots.

"CoroWare's initial deployment of an RFID-based IIoT solution increased overall logistical throughput ten-fold, and therefore improved overall productivity," said Lloyd Spencer, president and CEO of CoroWare, Inc. "We look forward to deploying IIoT solutions based on Bluetooth Low Energy (BLE) and RFID with manufacturing and process control customers in North America."

According to MarketsAndMarkets, the Industrial Internet of Things (IIoT) market is a significant sub-segment of the IoT marketplace; was valued at USD 93.99 Billion in 2014; and is projected to reach USD 151.01 Billion by 2020. IIoT technologies, products and services improve the integration of devices with industrial networks and data analytics solutions to improve operational efficiency and reduce operational costs.

In fiscal year 2016, CoroWare is working toward a goal of achieving USD 10 Million in gross revenues -- in part by delivering solutions and consulting services in rapidly growing industry segments such as Industrial Internet of Things (IIoT) -- although we cannot say with any certainty that our plans will successfully achieve that revenue goal.

About Coroware, Inc.

Coroware, Inc., headquartered in Bellevue, Washington, is a diversified technology and solutions company with expertise in:

  • Business Consulting Services: R&D engineering services, business process workflow, software architecture, design and development, content management, console, PC and online game production, marketing coordination and management.
  • Robotics and Automation: Custom engineering such as visualization, simulation and software development, mobile robot platforms for university, government and corporate researchers.

CoroWare's customers are located in North America, Europe, Asia and the Middle East, spanning multiple industry sectors. CoroWare partners with universities, software and hardware product development companies and non-profit organizations. For more information, please visit www.coroware.com.

Forward-Looking Statement

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

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