U.S. Energy Industry Leader Adopts CIM Machine Learning Solution to Enhance Pipeline Asset Management System

EDMONTON, AB / ACCESSWIRE / September 20, 2021 / OneSoft Solutions Inc. (TSXV: OSS) (OTCQB: OSSIF) (“OneSoft”) is pleased to announce that a major US pipeline operator (the “Customer“) has entered into a multi-year agreement with OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc. (“OneBridge“) to integrate cognitive integrity managementMT (“CIM“) software as a service solution in its asset and integrity management practices for its pipeline operations.

The customer is a leader in mid-level energy that transports approximately 30% of natural gas and crude oil to the United States and does business in Canada and other countries. The company’s operations span many states in the United States and include mid-way, intra-state and interstate natural gas transportation and storage facilities; crude oil; natural gas liquids and fractionation; transport of refined products; terminal assets; and interests in other oil and gas operations. The customer currently operates approximately 90,000 miles of pipelines and is actively seeking the acquisition of additional energy assets to further grow their business.

The agreement reflects an initial CIM integration plan for the customer’s pig pipelines over several years, which currently represent approximately 45% of its infrastructure, with a potential opportunity to subsequently integrate probabilistic risk, direct assessment and other new CIM feature enhancements for the majority of its pipeline assets in the future.

“We strongly believe that our CIM solution will enrich this client’s leadership role within the industry and enhance their ESG initiatives for the benefit of their stakeholders, communities and the world at large,” said Dan Tipton, vice -President of Sales of OneBridge. “Adopting CIM in their asset management program is part of their commitment to increase safety, operational efficiency and environmental protection and aligns with their digital transformation strategy to innovate using technology cutting edge in machine learning, data science and cloud computing. . “

Brandon Taylor, OneSoft President and Chief Operating Officer added, “Working through extensive production testing processes with the customer has demonstrated the high degree of expertise and commitment that his employees have contributed to the evolution and remarkable growth of the company over the past 25 years. We look forward to working with their staff in the pursuit of their business goals and continued contributions to the industry. “

About OneSoft and OneBridge

OneSoft has developed software technology and products capable of scaling existing software applications licensed on premise to run on the Microsoft Azure Cloud platform. Our business strategy is to seek opportunities to integrate data science and machine learning, business intelligence and predictive analytics to create cost-effective, subscription-based software as a service solutions. Visit www.onesoft.ca for more information.

OneSoft’s wholly-owned subsidiary, OneBridge Solutions Inc., develops and markets breakthrough new SaaS solutions that use advanced data science and machine learning to analyze big data using predictive analytics to help businesses Oil and gas pipeline operators predict pipeline failures and thereby save lives, protect the environment, reduce operating costs and meet regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.

For more information please contact

Dwayne Kushniruk,
CEO
[email protected]
780-437-4950

Sean Peasgood,
Investor Relations
[email protected]
647-494-7710

Forward-looking statements

This press release contains forward-looking statements relating to the future operations and profitability of OneSoft and other statements that are not historical facts. Forward-looking statements are often identified by words such as “could”, “should”, “anticipate”, “expect”, “believe”, “want”, “intend”, “plan” and similar expressions. All statements contained in this press release that are not statements of historical fact can be considered as forward-looking statements. This forward-looking information is provided to provide information about management’s current expectations and plans for the future. Investors are cautioned that reliance on this information may not be appropriate for other purposes, such as making investment decisions.

With respect to forward-looking information and statements, OneSoft has relied on certain assumptions it considers reasonable at present, including expectations and assumptions regarding, among others: the impact of Covid-19 on operations business of OneSoft and its current and potential customers, the availability and cost of labor and services; the effectiveness of its software; our interpretation based on various industry sources of information regarding the total number of kilometers of pipeline in the United States and worldwide, which segments are pigs; our understanding of assessment, inspection and maintenance measures, activities and costs is consistent with various industry sources of information and is reasonably accurate; that the counterparties to significant agreements will continue to act in a timely manner; that no unforeseen event prevents the execution of contracts; that there are no unforeseen material development or other costs associated with ongoing growth projects or ongoing operations; the success of growth projects; future operating costs; interest rate and exchange rate; expected synergies, capital savings and cost savings; the adequacy of the capital expenditure budgeted for the realization of the planned activities; and no change in applicable tax laws. Therefore, readers should not place undue reliance on the forward-looking information contained in this press release. Because forward-looking information deals with future events and conditions, such information, by its very nature, involves inherent risks and uncertainties. Actual results could differ materially from those currently expected due to many factors and risks. These include, but are not limited to, risks associated with industries in which OneSoft generally operates, such as: costs and expenses; fluctuations in interest rates and exchange rates; competetion; ability to access sufficient capital from internal and external sources; and changes in legislation, including, but not limited to, tax laws.

Readers are cautioned that the above list of factors is not exhaustive. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and OneSoft makes no commitment to publicly update or revise any forward-looking statements included, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities to be offered have not been and will not be registered under the US Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold in the United States. United in the absence of registration or an applicable exemption from registration. requirements of this law or other laws.

The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.

THE SOURCE: OneSoft Solutions Inc.

See the source version on accesswire.com:
https://www.accesswire.com/664654/US-Midstream-Energy-Leader-Adopts-CIM-Machine-Learning-Solution-to-Augment-Its-Pipeline-Asset-Management-System


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