Mcloud closes carbon royalty corp funding of us$15 million for first 30 assetcare™ ev implementations at auto dealerships

Close accelerated by strong customer traction seen since announcing assetcare offering for auto dealerships in march 2022 recent success at new york auto show in april 2022 bolsters mcloud's position for next potential tranche of funding in partnership with carbon royalty on track to onboard 45 auto dealerships by end of 2022, including prominent dealerships in new york and california san francisco , may 5, 2022 /prnewswire/ - mcloud technologies corp. (nasdaq: mcld) (tsxv: mcld), ("mcloud" or the "company") a leading provider of ai-powered asset management and environmental, social, and governance ("esg") solutions today announced it had closed us$15 million in funding for the first 30 assetcare ev implementations at auto dealerships in new york and california in partnership with carbon royalty corp. on march 30, 2022, mcloud announced it had signed an agreement with carbon royalty corp to partner in the implementation of these solutions. carbon royalty corp fully funds the implementation of these assetcare contracts and each party receives 50% of the tax incentives, carbon credits, and other financial benefits over the life of these contracts, typically on 20-year terms.
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