LiteLink Technologies (LLT.C) announced today that it has signed an agreement to acquire market-differentiated Internet of Things (IoT) sensor technologies for the waste and container management industry.
Barring a plague or natural disaster or if Donald Trump’s nuclear trigger finger gets too twitchy, the global population is going to reach and surpass eight billion people. Each of those people is going to produce a certain amount of waste. The Environmental Protection Agency (EPA) guestimates that each person puts out about 5.91 pounds of trash per year. Even if we account for roughly 1.51 pounds being recycled, that’s still 4.40 pounds a day for the average person. Some quicky math later and that’s 1,606 per year. Now multiply that by eight billion.
Someone’s got to handle and store all of that trash. It’s why your mother probably told you not to disparage garbage men, because they’re probably going to be only ones remaining after the nuclear holocaust. It’s cockroaches, farmers, lawyers and garbage men all the way down. But before that, we have industrial smart bin monitoring, which is a new way to drive greater optimization and efficiency for operators. Using IoT sensors, all parties will know the fill-level of containers and adequately predict pick-up and processing costs which will improve scheduling, profitability and optimization.
“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. 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,” said LiteLink CEO Ashik Karim.
The IoT opportunity
Lots of companies don’t know what they’re doing with their trash. In North Vancouver alone there are plenty of different sanitation companies offering hydraulic trash-storage options for larger companies, and 40 yarders in the winter for when those break down and the demand gets too much for them to handle. It’s entirely possible for one of our ski hills here to go through three waste management companies in one ski season because they can’t handle the load, and get people out fast enough.
Even if the US waste management market weren’t expected to grow to $80.7 billion in 2023, there’s one here in their back yard with companies desperate for opportunities like this. The industry is plagued with overfills, which lead to manual cleanup, or half-filled containers in which the company could easily save themselves the diesel money for their fork truck. Not to mention fines and other overhead costs and that’s before we get into the injuries and deaths that bins and containers are connected with during pickup, all of which could be avoidable through technology solutions.
LiteLink Technologies is a BC-based software-as-a-service provider of smart monitoring sensors used to improve the supply chain, and they’re now offering smart waste, construction and recycling management options. They do this by integrated their 1SHIFT logistics program with ultrasonic IoT sensors.
They commonly use artificial intelligence, blockchain and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Their 1SHIFT logistics platform offers tracking and transparency in real time, which gives brokers, shippers and carriers the ability to track shipments and settle payments the moment they’re required.
For businesses, and even the average consumer, that means no more taking your evening trash out and fighting through the miasma of flies to get to the bin and then toss your night’s garbage onto the precarious mountain of raunchy-smelling, fat-glistening black bags. That bin’s empty because when the garbage heap reached the line, the company got a text saying they needed to do a pickup. No more excuses.
The terms of the acquisition agreement include LiteLink purchasing the assets from a partnership of individuals calling themselves 3030 IoT, which include sensor technologies, intellectual property rights, equipment, hardware, inventory customer contracts and prospect lists. The company’s IoT device and software have already been commercialized, and operate presently with a large bin waste management company in British Columbia.