Internet of Things to Launch Thermal Fever Detection System: ThermalPass
This afternoon Internet of Things Inc. (TSXV: ITT) announced the development of a new fever detection system called ThermalPass. The new technology is designed to enhance public safety, instantly screening for higher than normal body temperatures in potential carriers of COVID-19 and other fevers. The solution will place ThermalPass at entranceways of high-traffic, public locations to reduce the risk of spreading illness. An idea that would have been considered crazy 3 months ago, today will offer a real solution for retailers in our new normal moving forward.
At the moment, most fever detection solutions requires an individual to be stationary for an accurate tempature reading, the major advantage of ThermalPass will be its use in high-volume settings where people in full motion are screened while passing through without any effect on their pace of movement. This system has the ability to use multiple infrared medical grade thermal sensors triggering an audio and visual signal when a specified temperature is exceeded; allowing facility staff to respond appropriately and keep patrons safe.
In the company press release, were told ThermalPass integrates 19 infrared medical-grade thermal sensors onto a sturdy metal frame. The system is designed to decipher body temperature measurements within an expected accuracy of 0.2 degrees Celsius or 0.36 degrees Fahrenheit, with no contact or any discomfort to the individuals who pass through it. The technology is designed to be extremely durable and waterproof, so it will be suitable for both indoor and outdoor use and can be easily disassembled and relocated. The prototypes are in the advanced stage of development for pre-commercial testing this month and subsequent product launch this June.
In a company press release, Malcolm Rook Design Engineer of ThermalPass stated, “We have created a technically advanced, integrated and patent-pending system designed to accommodate high-volume flow, uninterrupted, whilst maintaining medical grade accuracy of temperature measurement. Our engineering team has taken into great account the competitive landscape and we are positioning ThermalPass as a feature-rich, premier product.”
ThermalPass will be structured as a joint venture between ITT and Commersive Solutions. The deal will see ITT Inc own 51% of the solution through their wholly owned subsidiary AI Labs Inc and the remaining 49% to be held by Commersive.
ITT’s JV partner Commersive is well established developer of integrated, point-of-sale technologies creating unique experiences for retailers. This new joint venture will combine ITT’s technology assets with Commersive’s end to end product ideation and development capabilities and retail market reach, to commercialize ThermalPass for the global marketplace.
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SmallCapSteve started blogging in the Winter of 2009. During that time, he was able to spot many take over candidates and pick a variety of stocks that generated returns in excess of 200%. Today he consults with microcap companies helping them with capital markets strategy and focuses on industries including cannabis, tech, and junior mining.
Seems like a realistic solution. What kind of sales data we looking at on something like this? Price? Margin? etc.