A leading edge telecommunications company announced a large smart tank adapter contract. The technology allows usage data from any industrial storage tank.
QSTEL, Inc. (OTCPK:IQST) completed the onsite field test of its IoTSmartTank devices for its previously announced contract with a Fortune 500 Chemical Corporation. The technology allows customers to collect gps and usage data with unprecedented ease allowing for asset tracking and data analysis to maximize costs and efficiency across the board.
QSTEL is a leading edge telecommunication and technology firm is now proceeding with the manufacturing of 2,500 initial devices which are planned for installation at the Fortune 500 Chemical client site beginning in May.
This contract is expected to generate monthly recurring revenue allowing over breakeven and adding to iQSTEL's overall profit.
The stock was up over 15% in late-morning trading.
