VANCOUVER,
Feb. 10, 2022 /CNW/ -
Minerva Intelligence Inc. (TSXV: MVAI) ("Minerva" or the
"Company"), an artificial intelligence software company focused on
building decision support tools for climate risk, mineral
exploration and mining, is pleased to provide a corporate update on
the development of the Company and its corporate strategy
throughout 2022.
Outlook
The Company anticipates strong revenue growth driven by
commercial adoption of its solutions in both Economic Geology and
Climate Risk. This includes the adoption of Minerva's Driver SaaS
solution from junior and major mining companies as well as the
successful launches of Minerva's GAIA solution from governments,
insurance companies, and corporate issuers globally.
"After a strong 2021, we are well on track to deliver our
strongest financial performance ever as a company in 2022 through
the addition of new clients and the launch of new services,
including Driver and our Climate Risk solutions," said Scott Tillman, CEO of Minerva Intelligence. "We
are well positioned to deliver on our growth strategy as the demand
of a viable and truly insightful platform that is able to provide
transparency into Climate Risk exposures. The additions made to our
Board of Directors throughout 2021 are already paying dividends as
we capitalize on our teams' extensive relationships with industry
veterans and unparalleled relationships."
Minerva is proud to be focused on initiatives in sustainability
and the net-zero transition.
Economic Geology
Minerva is pleased to provide an update on its existing Economic
Geology business segment, which is assisting mining and mineral
explorers more efficiently secure the minerals and metals needed
for the transition to clean energy technologies. With continued
momentum and strong demand for the Company's innovative solutions,
the Company anticipates additional clients throughout 2022 as well
as existing clients expanding their spend with the Company. Driving
this growth is the launch of Driver, Minerva's SaaS product.
Driver provides automatic 3D block modelling for rapid,
comprehensive analysis of drilling data and is cloud-hosted and
web-based, making it accessible anywhere there is an internet
connection. Minerva's Driver is allowing geologists to vector
towards new areas of the deposit, better predict metallurgical and
environmental concerns and save months of time in the modelling
process.
Toward the end of 2021, Minerva began offering 'proof of
concept' trials to customers. These trials have made it easy
for Minerva to demonstrate the value of Driver and have helped
generate buzz within the industry. Most importantly, they
have been met with quicker adaption of Driver with the benefit of
immediate feedback that has been incorporated into the improving
technology. The Company anticipates a strong conversion rate
from trial customers to licensed users throughout the year.
Climate Risk
Continuing momentum from Q4 2021, the Company continues to see
strong demand for its Climate Risk solutions, including several
pilot programs with commercial entities. As well, the Company
is carrying out its innovation solution project for the
Canadian government (see press release dated November 29, 2021), and remains optimistic that
this contract will expand.
As a part of Minerva's Climate Risk strategy, the company is
building partnerships to address risk quantification in the real
estate sector. Specifically, the company seeks to assist REITs with
visualization and analysis to better understand their exposure to
Climate Risk and better manage their financial risks and
opportunities.
Minerva anticipates a public launch of its GAIA Climate Risk
platform to occur later this year. GAIA is a unique AI application
that enables users to generate and interact with maps of natural
hazard susceptibility over large areas. The Company's cognitive AI
system mimics human-expert reasoning about natural hazards and
provides explainable hazard assessments, making it easier for
non-experts to understand the results.
"We continue to garner significant interest in our solutions
related to Climate Risk and are working hard towards reaching as
many prospective clients as possible," said Jake McGregor, President of Minerva
Intelligence. "With several pilot projects on the go, we are
extremely optimistic that 2022 will result in material revenue from
this segment of the business and we are working closely with
clients to develop solutions that directly match their needs."
Changes to Board of Directors
In addition, the Company is pleased to welcome David Poole to its Board of Directors. Mr. Poole
will be replacing Clinton Smyth, who
has agreed to step down from his position.
As one of the initial investors and founders of Minerva
Intelligence, Mr. Poole bring a wealth of artificial intelligence
experience to the Company's Board of Directors. He is currently a
professor at the University of British
Columbia and received his PhD from the Australian National University.
"I am thrilled to welcome David to our Board of Directors and
look forward to leveraging his knowledge and understanding of
artificial intelligence, particularly as one of the founders of
Minerva, as we execute on both our Economic Geology and Climate
Risk strategies," continued Scott
Tillman. "I would like to thank Clinton for his time on our
Board, and wish him the best of luck on his future endeavors."
About Minerva Intelligence, Inc.
Minerva Intelligence Inc. is an artificial intelligence software
company based in Vancouver,
Canada, with a subsidiary office in Darmstadt, Germany. Their software is helping decision
makers better understand the earth. Minerva's applications focus on
climate risk mitigation, carbon sequestration monitoring and the
search for critical metals and its proprietary AI software has
application in diverse industries and domains.
Minerva's common shares are currently listed on the TSX Venture
(symbol MVAI).
For further details, please refer to their website.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws and may not be
offered or sold within the United States or to, or for
the account or benefit of, "U.S. persons," as such term is defined
in Regulation S under the U.S. Securities Act, unless an exemption
from such registration is available.
Cautionary Note Regarding Forward-Looking Statements
Forward Looking Information: This news release includes
certain information that may be deemed "forward-looking
information". Forward-looking information can generally be
identified by the use of forward-looking terminology such as "may",
"will", "expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. All information in this
release, other than information of historical facts, including,
without limitation, the availability of financing to the Company
are forward-looking information that involve various risks and
uncertainties. Although the Company believes that the expectations
expressed in such forward-looking information are based on
reasonable assumptions, such expectations are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking information.
Forward-looking information is based on a number of material
factors and assumptions. Factors that could cause actual results to
differ materially from the forward-looking information include
changes in project parameters as plans continue to be refined,
future metal prices, availability of capital and financing on
acceptable terms, general economic, market or business conditions,
regulatory changes, delays in receiving approvals, and other risks
detailed herein and from time to time in the filings made by the
Company with securities regulatory authorities in Canada.
Mineral exploration and development of mines is an inherently risky
business. Accordingly, actual events may differ materially from
those projected in the forward-looking information. For more
information on the Company and the risks and challenges of our
business, investors should review our continuous disclosure filings
which are available at www.sedar.com. Readers are cautioned
not to place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
The TSX Venture Exchange has neither approved nor disapproved
of the contents of this press release. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this press
release.
SOURCE Minerva Intelligence Inc.