NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) announced in a news release it signed a deal with new customer Sterilis Solutions for both NexTech's WebAR and AR University offerings.
U.S.-based Sterilis Solutions manufactures a 1,100 pound machine that turns regulated medical waste into confetti that is safe for throwing away in the trash.
For NexTech, this contract represents its entrance into the medical devices market, valued at an estimated $150 billion by Fortune Business Insights.
Sterilis Solutions will use NexTech's e-commerce augmented reality platform in marketing its product, specifically to highlight its primary functions both online and when the company's sales team members demonstrate the machine to dealers in Sterilis Solutions' global network.
To educate those dealers and their salespeople, this new NexTech customer will use AR University.
"AR is more powerful than a brochure, especially with the interaction," Sterilis Solutions CEO Andy Marshall said in the release.
"We are excited that Sterilis has adopted NexTech's powerful and industry-leading augmented reality offering to drive both its product marketing and client education activities," Evan Gappelberg, CEO of NexTech stated. "Because our proprietary 3D augmented reality (3D/AR) solution and our AR learning tools work on any AR enabled mobile phone it will help Sterilis to vastly improve its product demonstration capabilities while significantly enhancing its ability to communicate key competitive features of its products at trade shows and really everywhere."
Gappelberg continued, "Sterilis has chosen NexTech as a key business growth partner. Unlike other AR/VR companies which charge a fortune and which often require special software and training, NexTech"s easy to use and monthly revenue-focused product suite allows its clients to do more and to sell more. All of this results in a stronger bottom line for our customers and recurring revenues for us."
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: NexTech AR Solutions. Click here for important disclosures about sponsor fees. Within the last six months, an affiliate of Streetwise Reports has disseminated information about the private placement of the following companies mentioned in this article: NexTech AR.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexTech AR Solutions, a company mentioned in this article.