MultiSensor AI Announces Launch of MSAI Inspections Business

HOUSTON, TX / ACCESSWIRE / April 18, 2024 / MultiSensor AI Holdings, Inc. (Nasdaq:MSAI), a leader in the emerging AI-driven predictive maintenance space, today announced that it has reorganized its thermal inspections services into a newly launched multi-sensor business, MSAI Inspection Services.

MSAI has long been a leader in providing thermal inspections to a range of enterprise customers, particularly in the healthcare and industrial spaces. Following the acquisition of Infrared Inspections, LLC in 2017, MSAI has built a growing base of recurring inspection revenues and a strong core of certified inspectors. With the launch of MSAI Inspection Services, MSAI will expand its inspections business to include additional sensor modalities and service offerings to meet the needs of enterprise customers. MSAI Inspection Services also provides an opportunity for MSAI to grow its core Software as a Service (SaaS) business by providing complementary continuous monitoring in appropriate environments. Recent changes in National Fire Protection Association guidelines (NFPA 70B 2023) mandate the annual inspection of electrical equipment, which is increasing demand for these services dramatically.

MSAI Inspection Services will be led by Carl Schultz, CMRP, a 30-year veteran of the condition-based monitoring industry and a certified Level III thermographer. Mr. Schultz said: "We are excited to build this business from its strong core into a national leader in multi-sensor inspections. The strategic fit with the rest of MSAI's business is very strong, and we look forward to working with our customers and the rest of MSAI to keep our customers' facilities and operations safe and efficient."

David Gow, MSAI's Executive Chairman, said: "The launch of MSAI Inspection Services is an important strategic step, as we continue our transition into high-value-add, software enabled services with recurring revenues. Combining MSAI's strong inspection capabilities and leading-edge software provides a hugely attractive value proposition to our enterprise clients."

This press release is not an offer for sale of securities in the United States or in any other jurisdiction where such offer is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended.

Forward Looking Statements

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About MultiSensor AI (MSAI)

MultiSensor AI's "MSAI Cloud" is an AWS-powered software platform that leverages MSAI-built thermal imaging, acoustic imaging, and vibration sensing devices for condition-based monitoring of critical mechanical and electrical assets and manufactured outputs. MSAI's solutions are deployed by organizations to protect critical assets across a wide range of industries including distribution & logistics, manufacturing, utilities, and oil & gas. MSAI's sensing solutions are built around high-resolution thermal imaging along with visible, acoustic, vibration and laser spectroscopy imagers and sensors. This full-stack solution measures heat, sound, and gas in the surrounding environment, helping companies gain insight to efficiently manage their most important assets and infrastructure. MSAI designs and manufactures digital thermal sensing solution platforms with edge and cloud-based software.

For more information, please visit https://multisensorai.com/.

MSAI Contact:
Andrew Klobucar
Director of Marketing
MultiSensor AI
Phone: +1 (612) 770 7416
[email protected]
www.multisensorai.com

SOURCE: MultiSensor AI Holdings, Inc.



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