BETHLEHEM, Pa., Nov. 10, 2016 (GLOBE NEWSWIRE) -- The Internet of Things (IoT) is a sort of digital infrastructure. It connects devices, vehicles, buildings, and other items through electronics, software, sensors, and networks. The IoT allows objects to be sensed and controlled remotely, creating opportunities for more direct integration of the physical world into computer-based systems. The goal is improved efficiency and accuracy, and reduced costs.
Arkados Group, Inc. (OTC:AKDS) is a global provider of scalable and interoperable IoT solutions that focus on commercial buildings, factories, refrigeration units, and other machines for systems management and monitoring. Arkados’ cutting-edge industrial automation and energy management tools are comprised of software and hardware platforms that are the building blocks that enable the machine-to-machine communication necessary for various Smart Machines, Smart Manufacturing, Smart Building, and Smart City applications. The company works with customers to design and implement the most energy- and cost-efficient solutions in lighting, boiler, and combination heat and power systems.
Arkados has recently expanded to Ben Franklin TechVentures®, an award-winning business incubator/post-incubator facility on Lehigh University’s campus in Bethlehem, PA. Ben Franklin TechVentures is owned and managed by the Ben Franklin Technology Partners of Northeastern Pennsylvania. Arkados plans to conduct its core research and development activities at TechVentures.
Arkados develops innovative solutions on its Arktic™ software platform that enables sensing, data gathering and analysis, and machine-to-machine communication for smart building applications. The information gathered is used for measurement and verification, predictive maintenance, air quality, and energy management. Arkados’ systems help customers increase efficiency and reduce costs.
Ben Franklin TechVentures brings together entrepreneurs, Ben Franklin staff, and Lehigh faculty and students to accelerate the growth of the region’s technology economy. The Ben Franklin team supports TechVentures resident companies with management guidance, business planning, strategic planning, and marketing counsel; connections to angel investors and venture capitalists; and assistance in preparing and improving funding presentations. Ben Franklin shares its new Innovation Institute meeting, learning, and conference facilities space with resident companies, local corporate partners, and programs. Ben Franklin TechVentures provides an entrepreneurial culture that fuels innovation, hastens the success of early-stage technology firms, and supports high-value job creation.
About the Ben Franklin Technology Partners of Northeastern Pennsylvania
The Ben Franklin Technology Partners of Northeastern Pennsylvania, an initiative of the Pennsylvania Department of Community and Economic Development and funded by the Ben Franklin Technology Development Authority, creates and retains highly paid, sustainable jobs by linking companies with experts, universities, funding, and other resources to help them prosper through innovation. BFTP/NEP’s strategy encompasses three key areas:
- developing early-stage technology-oriented companies,
- helping established manufacturers creatively apply new technology and business practices to achieve industry leadership, and
- promoting an innovative community-wide infrastructure that fosters a favorable business environment for high-growth companies.
Since beginning operation, BFTP/NEP has helped to create 16,986 new jobs for Pennsylvania workers and to retain 23,761 existing jobs, to start 482 new companies, and to develop 1,433 new products and processes. BFTP/NEP clients have generated $1.4243 billion in follow-on funding. The Pennsylvania Ben Franklin Technology Partners network has returned $3.60 to the state treasury for every $1.00 invested in the program.
BFTP/NEP owns, manages, and is headquartered in Ben Franklin TechVentures®, an award-winning business incubator/post-incubator facility on Lehigh University’s campus in Bethlehem, PA. BFTP/NEP also manages the Bloomsburg Regional Technology Center in Bloomsburg.
About Arkados Group, Inc.
Arkados Group, Inc. through its subsidiaries is a global provider of scalable and interoperable Internet of Things (IoT) solutions focused on industrial automation and energy management. The Company’s solutions are uniquely designed to drive a wide variety of wireless and powerline communication (PLC)-based products, such as sensors, gateways, video cameras, appliances and other devices. By utilizing the Company’s solutions, Arkados’ customers can bring numerous sophisticated, full-featured products to market faster at a lower overall development cost. Arkados® is a registered trademark of Arkados Group, Inc. For more information about Arkados, please visit us at http://www.arkadosgroup.com, and follow us on Facebook, LinkedIn, Twitter and Google+.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, insufficient working capital, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Arkados Investor Contact: Investor Relations email@example.com Ben Franklin Technology Partners of Northeastern Pennsylvania Contact: Laura S. Eppler Director of Marketing Ben Franklin Technology Partners of Northeastern Pennsylvania 610-758-5237 firstname.lastname@example.org
Source:Arkados Group, Inc.