CYTTA Corp Announces Sale of Core Products to New Market Vertical - Providing Fortune 50 Utility Companies with Live-Streamed Inspections
Las Vegas , Aug. 03, 2020 (GLOBE NEWSWIRE) -- - Cytta Corp (OTCPINK: CYCA) Cytta Corp announced the sale of its real time video and audio streaming communications platform, the IGAN Fusion, to a commercial client for energy and powerline inspections with sUAS (small unmanned aircraft systems) and other systems.
This sale opens a substantial new market vertical as Cytta Corp’s technology proves valuable for the inspection of all types of critical infrastructure. The energy and power management industry struggles with maintaining their infrastructure and providing adequate, regular inspections. With over 200,000 miles of power lines, and 55,000 miles of pipeline in the United States, companies are struggling with the costs associated with driving to inspection sites and using expensive alternatives.
In some states, Companies have faced enormous liabilities for damage and loss of life caused by failure to properly inspect existing powerlines. In a response to two years of devastating wildfires Pacific Gas & Electric, California's largest utility, filed for bankruptcy protection in January as its estimated liability from recent wildfires exceeds $30 billion.
In the past, cost effective drone inspections were stuck with poor video quality and an inability to execute over-the-horizon realtime streaming. Cytta Corp’s IGAN and SUPR technologies are a paradigm shift that will enable this industry to cover many more miles, faster, safer, cheaper and with greater reliability.
Cytta Corps’ existing video management solution, the IGAN Fusion, is a perfect fit for live-streaming inspection feeds to professionals anywhere on earth. Being able to live-stream high quality video in real time, is a powerful new tool allowing diverse industries to easily and efficiently conduct examinations of all their far-flung assets and infrastructure. And when combined with our SUPR system, IGAN allows operation in low bandwidth utilizing LEO satellite connectivity.
“The inspection requirements of utility and energy companies nationwide represent a significant operating challenge and expense. The devastating wildfires in California and resulting multi-billion-dollar settlements brought home the need for improved and more efficient inspections,” says Gary Campbell, CEO of Cytta Corp. “IGAN/SUPR live-streams high quality video feeds of assets directly to inspectors anywhere and anytime, opening the door to other markets like real estate, infrastructure, O&G and energy”
About Us
Cytta Corp (OTCPINK: CYCA) brings technology from military to enterprise. Our proprietary SUPR Stream is the technology at the core of our products, designed specifically for streaming and storing HD, 4K, and higher resolution video. The IGAN Matrix seamlessly streams and stores all relevant video and audio during emergency situations. This creates real-time situational awareness for police, firefighters, first responders, and their command centers.
Cytta Corp products work in size, weight, and power-constrained (SWaP) operating environments, and evolved through use in the military by meeting the need to stream multiple HD, 4K, and 4K+ video feeds with ultra-low latency, bandwidth, and power consumption. Cytta is taking this streaming, storage, and transfer technology to enterprises that would like to send more high-quality videos with fewer resources. Cytta manufactures all their products in the USA. For more information, please visit Cytta.com and/or the Cytta Video Channel on YouTube.
Safe Harbor Statement / Forward-Looking Statements
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate", "believe", "estimate", "expect", "may", "objective", "plan", "possible", "potential", "project", "will", and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.
Cytta Corp
www.cytta.com
Office (855) 511-4426
info@cytta.com
Gary Campbell, CEO
Direct (702) 900-7022
Gary@cytta.com
Michael Chermak, Chief Administrative and Investment Officer
Cell: (619) 977-7203
Chermak@Cytta.com
Corporate Communications Contact:
Complete Advisory Partners
Office: (586) 228-2290
Cell: (586) 801-9002
Email: CapInc@comcast.net
Las Vegas , Aug. 03, 2020 (GLOBE NEWSWIRE) -- - Cytta Corp (OTCPINK: CYCA) Cytta Corp announced the sale of its real time video and audio streaming communications platform, the IGAN Fusion, to a commercial client for energy and powerline inspections with sUAS (small unmanned aircraft systems) and other systems.
This sale opens a substantial new market vertical as Cytta Corp’s technology proves valuable for the inspection of all types of critical infrastructure. The energy and power management industry struggles with maintaining their infrastructure and providing adequate, regular inspections. With over 200,000 miles of power lines, and 55,000 miles of pipeline in the United States, companies are struggling with the costs associated with driving to inspection sites and using expensive alternatives.
In some states, Companies have faced enormous liabilities for damage and loss of life caused by failure to properly inspect existing powerlines. In a response to two years of devastating wildfires Pacific Gas & Electric, California's largest utility, filed for bankruptcy protection in January as its estimated liability from recent wildfires exceeds $30 billion.
In the past, cost effective drone inspections were stuck with poor video quality and an inability to execute over-the-horizon realtime streaming. Cytta Corp’s IGAN and SUPR technologies are a paradigm shift that will enable this industry to cover many more miles, faster, safer, cheaper and with greater reliability.
Cytta Corps’ existing video management solution, the IGAN Fusion, is a perfect fit for live-streaming inspection feeds to professionals anywhere on earth. Being able to live-stream high quality video in real time, is a powerful new tool allowing diverse industries to easily and efficiently conduct examinations of all their far-flung assets and infrastructure. And when combined with our SUPR system, IGAN allows operation in low bandwidth utilizing LEO satellite connectivity.
“The inspection requirements of utility and energy companies nationwide represent a significant operating challenge and expense. The devastating wildfires in California and resulting multi-billion-dollar settlements brought home the need for improved and more efficient inspections,” says Gary Campbell, CEO of Cytta Corp. “IGAN/SUPR live-streams high quality video feeds of assets directly to inspectors anywhere and anytime, opening the door to other markets like real estate, infrastructure, O&G and energy”
About Us
Cytta Corp (OTCPINK: CYCA) brings technology from military to enterprise. Our proprietary SUPR Stream is the technology at the core of our products, designed specifically for streaming and storing HD, 4K, and higher resolution video. The IGAN Matrix seamlessly streams and stores all relevant video and audio during emergency situations. This creates real-time situational awareness for police, firefighters, first responders, and their command centers.
Cytta Corp products work in size, weight, and power-constrained (SWaP) operating environments, and evolved through use in the military by meeting the need to stream multiple HD, 4K, and 4K+ video feeds with ultra-low latency, bandwidth, and power consumption. Cytta is taking this streaming, storage, and transfer technology to enterprises that would like to send more high-quality videos with fewer resources. Cytta manufactures all their products in the USA. For more information, please visit Cytta.com and/or the Cytta Video Channel on YouTube.
Safe Harbor Statement / Forward-Looking Statements
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate", "believe", "estimate", "expect", "may", "objective", "plan", "possible", "potential", "project", "will", and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.
Cytta Corp
www.cytta.com
Office (855) 511-4426
info@cytta.com
Gary Campbell, CEO
Direct (702) 900-7022
Gary@cytta.com
Michael Chermak, Chief Administrative and Investment Officer
Cell: (619) 977-7203
Chermak@Cytta.com
Corporate Communications Contact:
Complete Advisory Partners
Office: (586) 228-2290
Cell: (586) 801-9002
Email: CapInc@comcast.net
