Nextech AR Solutions (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality (“AR”) for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events, has received an order for 35 AR labs from Ryerson University. A widely recognized leader in higher ed, Ryerson has more than 46,000 students. The university ordered the reality labs for use in its biology, chemistry and biochemistry departments. The announcement noted that the additional labs will increase Ryerson’s AR lab offerings to students by 70%. Nextech anticipates completing the order later this year and noted that, when complete, Ryerson University Faculty of Science will have one of the largest known AR immersive learning programs in the world. The 35 new labs will be added to the 50 labs developed for the 2020–21 school year as well as the AR labs produced through the RALE AR Lab Builder Program. Nextech’s EdTechX platform provides the use of AR for education institutions. Built on Microsoft Azure and approved on the Azure marketplace as a co-sell ready partner, EdTechX and its proprietary services transforms traditional learning and event formats into valuable, immersive digital experiences. “We are thrilled to see the hard work we have done in creating AR labs for students in partnership with Ryerson result in such a hugely positive response from both students and faculty,” said Nextech CEO Evan Gappelberg in the press release. “We have developed not just an immersive AR learning platform but also a unique business model for Nextech with a credit system where one credit is equivalent to one AR lab, which costs $5,000 each. Once the AR labs are created along with the AR Lab Builder Program, through a Government of Ontario Initiative in Partnership with Ryerson University and Nextech, all AR labs built will be available province-wide to institutions of higher education in 2022. We are extremely excited and gratified to be working with both Ryerson and the government to bring immersive learning experiences to Canadian students.”
To view the full press release, visit https://ibn.fm/bBKHP
About Nextech AR Solutions Corp.
Nextech develops and operates augmented reality (“AR”) platforms that transport three-dimensional (“3D”) product visualizations, human holograms and 360-degree portals to its audiences altering e-commerce, digital advertising, hybrid virtual events (events held in a digital format blended with in-person attendance) and learning and training experiences.
Nextech focuses on developing AR solutions; however, most of the company’s revenues are derived from three e-commerce platforms: vacuumcleanermarket.com (“VCM”), infinitepetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. For more information about the company, please visit www.NextechAR.com.
NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://ibn.fm/NEXCF
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