Breakthrough in stand-alone asset protection opens new market for C-Chip Montreal - May 19, 2004 - C-Chip Technologies Corporation (OTCBB: CCHI)
is pleased to announce that its R&D team has brought a solution to a
security problem that had been eluding the security and asset management
industry so far: the monitoring and protection of stand-alone assets
with no power source.
At the request of a potentially large distributor, C-Chip initiated last
March the development of a solution to secure and manage the movement of
stand-alone assets with no power source. The first commercial
application for this innovative product is for a Canadian company which
is expected to use C-Chip's device to protect and manage the movement of
dumpsters used by the construction industry, garbage collection and
others.
Currently branded as the SPP, whenever the device is attached to an
asset which is being moved by an unauthorized party, a signal is sent in
real time to the C-Chip security center indicating its path, speed,
direction and location within a few feet so that necessary action can be
taken by the authorized party. The SPP has been field tested to the
satisfaction of a potential customer and an initial order is expected
shortly. The SPP, a new and innovative device in the field of security
monitoring, opens for C-Chip a new market representing significant
potential in North America alone.
Stephane Solis, President and CEO of C-Chip indicated: "True to the
mission of providing "high technology solutions to solve traditional
business problems" our engineering team has proved one more time they
are up to the challenge of monitoring and protecting static assets.
Although still at the beginning of its projected growth, C-Chip is
particularly well positioned to benefit from the many innovations its
R&D team has pioneered."
About C-Chip Technologies Corporation
C-Chip Technologies Corporation is positioned in an emerging and rapidly
growing industry which is about interconnecting machines with IT
infrastructures and mobile assets. We integrate wireless communications,
on-line transactions, software applications, RFID technology, the
Internet and, when location is required, GPS technology to enable
business users to efficiently access, control and manage remote assets
at low costs. The Company's goal is to be recognized as a leading
provider of credit management solutions for financial institutions, of
security solutions for insurance companies and asset management
solutions for car rental companies and urban fleets.
Contact:
Stephane Solis, President and CEO
C-Chip Technologies Corporation
514-337-2447
ssolis@c-chip.com
FORWARD-LOOKING-STATEMENT: Except for factual statements made herein,
the information contained in this press release consists of
forward-looking statements that involve risks and uncertainties,
including the effect of changing economic conditions, competition within
the credit and security industry, customer acceptance of products and
other risks and uncertainties. Such forward-looking statements are not
guarantees of performance, and C-Chip Technologies Corporation results
could differ materially from those contained in such statements. These
forward-looking statements speak only as of the date of this release,
and C-Chip Technologies Corporation undertakes no obligation to publicly
update any forward-looking statements to reflect new information, events
or circumstances after the date of this release.