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LiteLink to acquire smart sensor technology to target untapped waste management industry

LiteLink Technologies Inc., a key player in logistics platforms and payment solutions, has announced that it has entered into a definitive agreement to acquire market-differentiated Internet of Things sensor technologies for the waste and container management industry.


Filed under
Technology
 
February 25 2020
 
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As the global population approaches 8 billion, continued population density and growth inevitably increases the volume of garbage and recycling, putting additional pressure on the waste management industry. Industrial smart bin monitoring is a revolutionary way to drive greater optimisation and efficiency for operators, according to the company.

With IoT sensors, all parties know the fill-level of containers and can predict pick-up and processing costs which, in turn, improves pick-up scheduling, profitability, and optimisation. LiteLink Technologies Inc., a provider of smart monitoring sensors to improve the supply chain, is now offering smart waste, construction, recycling management solutions, as per the statement.

By incorporating ultrasonic IoT sensors with the 1SHIFT Logistics platform, the company can provide businesses with a cost-saving and efficiencydriving solution. “We are very excited about the market-differentiating IoT sensor technology, which will allow us to provide the waste management industry with a much-needed solution,” said LiteLink CEO Ashik Karim.

“We are confident that anyone that has interest or charges based on how ‘full a bin, container, or space is’ will want this technology. From grain to oil to clothing bins that require pick-ups or attention when they are full or empty, this integrated solution will solve this problem automatically without manual inspection.”

Under the terms of the Acquisition Agreement, LiteLink will purchase all of the Assets from a partnership of individuals called 3030 IoT, including, among other things, sensor technologies, intellectual property rights, equipment, hardware, inventory, customer contracts and prospect lists. The smart waste management market is gaining traction and is expected to grow at a compound annual growth rate of 25.68% to reach US$5.19 billion by 2024.