TORONTO, Aug. 03, 2018 (GLOBE NEWSWIRE) -- Blutip Technologies Corp. (“Blutip Technologies” or the “Company”) is pleased to announce that it has acquired substantially all of Blutip Power Technologies Inc.’s assets through an asset purchase transaction approved by the Ontario Superior Court of Justice (Commercial List) on July 27, 2018. As a result of the transaction, Blutip Technologies will continue the fuel management solutions business and has acquired the related patents and intellectual property.

Blutip Technologies is owned by an investor group led by Fulmar Advisors. The board of directors intends to expand the market for the Company’s unique products in fuel information and analysis, and fuel management, under the leadership of its new CEO, Kevin Dagenais.

“I am excited and encouraged by a shift in attitude among mine operators that crucially acknowledges the competitive advantage of data analytics.  The confluence of this shift, rising energy prices and the recognition of the social and ecological costs of burning fuel represents a huge opportunity for Blutip’s SmartRView platform.  I am honored to be leading a dedicated team delivering unparalleled service with such an important mission.” Kevin Dagenais   

About Blutip Technologies

Blutip Technologies helps operators of high-horsepower diesel engines meet operational challenges and enables smarter operational decisions through its Fuel Savings-as-a-Service business. Blutip Technologies’ data analytics suite precisely measures fuel consumption and provides real-time engine control to optimize fuel savings and reduce carbon footprint, helping customers reduce costs, proactively schedule equipment maintenance, and modify driver behaviours.

Additional Information

All enquiries should be directed via the new website at www.blutipdata.com .

Blutip Technologies info@blutipdata.com