mCloud Technologies Corp. announced a partnership with the Mercedes-EQ Formula E Team as an Official Team Partner just ahead of the official opening of Season 8 of the ABB FIA Formula E World Championship with races in Diriyah, Saudi Arabia on January 28 and 29. As the world's only all-electric FIA World Championship and the only sport certified net zero carbon since inception, the ABB FIA Formula E World Championship brings dramatic racing to the heart of some of the world's most iconic cities, providing an elite motorsports experience that showcases electric vehicle innovation and the power of ESG technologies.

In the 2020/21 season, the Mercedes-EQ Formula E Team became the first-ever all-electric motorsport World Champions by winning the ABB FIA Formula E World Championship Drivers' and Teams' titles. The team has begun collaborating with mCloud to explore the use of mCloud's AssetCare portfolio of solutions to drive the ESG performance of their business, including technologies to reduce harmful emissions, the carbon footprint of their facilities, and further enhancing the safety and comfort of the work environment. Using AI in the cloud, AssetCare has been adopted by companies worldwide to decarbonize and optimize the productivity of manufacturing facilities, commercial retail spaces, automotive dealerships, and office buildings by reducing energy waste, greenhouse gas emissions, and driving the safety of indoor air.

mCloud joins the Mercedes-EQ Formula E Team on the back of several major AssetCare customer wins. In November 2021, mCloud announced its indoor air quality deployment to-date at the premier Life Plaza office tower in Calgary and the delivery of HVAC energy efficiency and indoor air quality capabilities to the first of over 100 restaurants owned and operated by the AFCO Restaurant Group in Saudi Arabia. The Company has also pursued new opportunities to bring AssetCare to automotive dealerships across the United States.