NexTech’s InfernoAR Chosen by Grundfos the Largest Pump Manufacturer in the World for Multiple Virtual Trade Shows

Nachrichtenquelle: globenewswire
16.09.2020, 14:26  |  105   |   |   

Company Continues To Expand its Global Footprint For Video Conferencing and Virtual Trade Shows s as Digital Transformation Accelerates

VANCOUVER, British Columbia, Sept. 16, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events, is pleased to announce that Grundfos, the largest pump manufacturer in the world, based in Denmark, with more than 19,000 employees globally and offices in 56 countries has chosen InfernoAR for both its Virtual summit for its UK team to highlight the company's focus on innovation and it’s Virtual summits for Norway and Sweden. The event's initial deal value is $60,000 and will have sponsorship opportunities with virtual booths and AR, potentially increasing the value of the deal significantly.

Grundfos is the largest pump manufacturer in the world, based in Denmark, with more than 19,000 employees globally. The annual production of more than 16 million pump units, circulator pumps, submersible pumps, and centrifugal pumps.

According to Grandview Research the global virtual events market in 2020 is $90 billion and expected to reach more than $400 billion by 2027, growing at a 23% CAGR. With NexTech’s InfernoAR platform having augmented reality, AI, end-to-end encryption and built in language translation for 64 languages, NexTech is well positioned to rapidly take market share as the growth, and digital transformation accelerates globally.

Evan Gappelberg, CEO of NexTech comments, “We are rapidly singing international deals with multi-national companies and market leaders like Grundfos that are choosing our InfernoAR over our competition because our platform simply is a better solution”. This deal with a multi-billion dollar global manufacturer demonstrates our ability to help our clients engage their teams, customers and suppliers on a global scale and our commitment to building long-term relationships with the biggest businesses in the world”. He continues ”We are experiencing significant business momentum in North America and in the EMEA (Europe, the Middle East and Africa) region. We continue to execute on our business plan which is to invest in our business with the rapid build-out of our AR and video conferencing technology as well as the rapid hiring of talent to meet the ever growing demand for our products and services.”

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