WEBVTT

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We have one of those companies
that can let people across the

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world make sure that they get
home safely to their families

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every day of the week and that's
got to be something that's game

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changing to get out of bed for
every morning.

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Utility and construction crews
perform essential work, and

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working out in the field brings
certain operational challenges

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that require a rigorous,
thorough commitment to safety

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and efficiency. That's where
FYLD comes in.

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This disruptive startup grew out
of Koru, an independent venture

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foundry from Ontario Teachers'
Pension plan.

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Koru was created by Ontario
Teachers' to surface value in all

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of Teachers' investments, working
exclusively with our portfolio

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companies to test, create and
build scalable new digital

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businesses.

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And FYLD was one of Korus's
first innovations.

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We sat down with Shelly Copsey,
CEO and cofounder of FYLD, to

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discuss how FYLD went from
innovation to application and

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how its partnership with Ontario
Teachers' and Koru helped them

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rapidly expand and establish
themselves in the utility

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sector. All right, let's let's
do this. What?

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What does FYLD do? How does it
work? So FYLD is very much

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aimed at the field worker who's
working typically in a dangerous

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environment. You know when you
walk out the front door in the

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morning and you get a bit of a
smell of gas, right? And you go

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call someone and say there's gas
out the front and a man arrives,

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woman arrives in a truck filled
at its most basic, helps those

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people get the job done. We've
bridged that gap, and we bring

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transparency to remote managers
as to what's happening in the

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field. We help them get ahead of
the curve.

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And provide coaching moments to
the people in the field to let

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them do their job safely and
productively and get the day's

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operation safely delivered. From
a safety perspective, we see

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incidents drop by 20% upon
deployments. From a productivity

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perspective, work outputs go up
at least 8%. Every field worker

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has field basically in their
pocket and on their phone. Yeah,

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and in your pockets are a really
good way of describing it,

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Victor. I think right from the
beginning we built this system

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to be simple. All that they've
got to do is take a bit of a

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video.

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And talk about the site, it's
incredibly easy for people to

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use you as a startup CEO. When
you heard that a pension plan is

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backing FYLD, what what was on
your mind? I was very curious. I

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really like the vision of
Teachers' that even as a pension

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plan data and digital right from
like the minute space that field

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started in is a massive
opportunity and industry

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vertical that they need to get
into. I liked that long term

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vision.

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I've heard from the beginning,
don't let cap at all stop you

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having ambition to do something.
We don't necessarily need to be

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traditional in terms of seed
Series A, series B. And I think

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for us, that lets us some to
think really quite creatively

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about how we're going to grow
the business because they were

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there at the validation stage.
They understand our business

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deeply and it's given us really
strong continuity in terms of

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having a stable board that's
been with us across the the 2

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1/2 years that we've existed and
just from my perspective as a

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CEO having a board.

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But I know well and who knows
our product well is a really big

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advantage. I find with teachers,
they don't actually ask for for

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too much of my time in managing
stakeholders. They're more

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focused than I I'm managing the
business and growing our

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revenues. What would you say is
different working with core when

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you think about sort of the
innovation, validation and

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ultimately incubation of of
field?

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Real differentiator of teachers
and compared to what else I've

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seen in the market, when I think
about teachers, it's financial

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investment to drive pension
returns that they actually

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specifically set up Cora and
went about bringing in experts

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at building ventures. There's
everything from you know product

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people to engineers to business
analysts to really look at the

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market and make sure that
there's both opportunity that

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we're also building like really
cutting edge solutions. And I

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think that that's an absolute
differentiator of Koru. It is a

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combination of Koru and
Teachers' and it's.

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Access to market, it's never
going to give us a free ticket

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to a new customer, but what it
does do is give us a warm

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introduction to somebody that is
table stakes will know that

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we're worth talking to. We're
very lucky to have the major UK

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gas network, SGN as one of our
shareholders and founders. SGN

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worked with its major investor
Ontario Teachers' Pension plan to

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really look at what was the
future of field force

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operations. How would you run
them in a data let age. Within

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three months they had 750 of
their workers on board. That was

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a phenomenally fast period of
growth.

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For us to to support if FYLD
had started in a garage, you

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know the likelihood of of a
company like SGN that's got 6

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million customers is running
critical national

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infrastructure. It's not going
to open its doors and let us

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start up in to work with 750
field workers. From my

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perspective, SGN got a different
level of confidence in working

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with FYLD because we had Koru
and teachers sitting behind her

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and it made that collaboration
really strong. That's actually a

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good point which I'd like to
understand a little bit more.

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OTPP is a significant.

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Build up both in field as well
as SGN at its core. What I've

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seen with Teachers' is that
they've treated SGN and FYLD as

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being two very separate
organizations which are valued.

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They've seen the the mutual
benefit of us partnering

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together, but I've seen that in
a really respectful way. I have

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people from Teachers' that will
talk to me about some of the

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benefits and areas in SGN and
where they see we could add more

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value and they can give me some
good coaching and guidance about

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what that might look like for
SGN. But it's a very natural

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relationship.

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Which Teachers' kind of lets
organically take shape with a

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bit of coaching on both sides,
but it never feels imposed and

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that to me is a really good way
of working. FYLD went from Koru

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innovation to market ready
application with a continuous

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focus on the end user, ensuring
that it was solving real

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problems for field workers from
day one.

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That, you know, there shouldn't
be any budget on health and

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safety. Shelley spoke on site
with Karl Simons, executive

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director and chief futurist of
FYLD, about how field has

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continued to grow through
hands-on implementation and data

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collection. We've gone from gas
into water into electricity,

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into highways and construction,
and you see that everybody who

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seemed to be speaking to wants
FYLD because of the solution

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that's being offered, there's
nothing like it.

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Right. Yeah, very few
organisations partnered in the

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way that I see FYLD does and
connect with our customers from

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the very beginning where we have
development conversations, we

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run solutions workshops, we run
hackathons. You know, these

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things all contribute. And then
hackathon in the utility sector

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is unheard of. But we're
bringing that into our customers

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now and saying how can we help
you, what can we do that solves

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your current challenges? What
you get is then it becomes very

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real for the designers and
engineers. Oh wow, we're not

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just making this up. So do you
think FYLD is more of a

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sort of incremental improvement
or is it disruptive? I view it

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as highly disruptive, although
the nice thing for our customers

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is that it's not disruptive to
their operations to get the

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gains. That's like a really
great spot to be in as a company

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00:07:39.200 --> 00:07:42.913
like FYLD. We have not come
across any company in the market

a7aec8b5-f19e-4e95-897d-06a87e44292d-5
00:07:42.913 --> 00:07:46.626
that is reimagining how you run
remote field force operations

a7aec8b5-f19e-4e95-897d-06a87e44292d-6
00:07:46.626 --> 00:07:50.458
that's using the rich data like
we are that's letting customers

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00:07:50.458 --> 00:07:53.991
create a true operational
digital twin of what takes place

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00:07:53.991 --> 00:07:54.770
in the field.

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And how much have you deployed
FYLD across different verticals

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in the UK we've got a strong
presence. I reckon about 80% of

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the country's utilities would
have a a member of their

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00:08:06.121 --> 00:08:09.845
workforce using FYLD on their
assets. We're also in the US

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00:08:09.845 --> 00:08:13.756
with Ferrovial, many people know
that as a massive owner of

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00:08:13.756 --> 00:08:16.921
infrastructure and a
construction company. Deployed

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00:08:16.921 --> 00:08:20.955
through Texas on quite a number
of highway bills that are going on.

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00:08:20.955 --> 00:08:24.245
We're also down in Mexico and
Chile now into highway

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00:08:24.245 --> 00:08:24.990
maintenance.

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00:08:25.060 --> 00:08:28.678
And also in utilities. So we're
really seeing that play out

fcf6246b-462f-4f71-8a4a-e62fc57e7e1b-1
00:08:28.678 --> 00:08:32.186
in quite a number of territories
and verticals. We're into the

fcf6246b-462f-4f71-8a4a-e62fc57e7e1b-2
00:08:32.186 --> 00:08:35.749
thousands and thousands of users
on board now. It's been a very

fcf6246b-462f-4f71-8a4a-e62fc57e7e1b-3
00:08:35.749 --> 00:08:39.090
quick journey for us. So what's
next for FYLD? What's your

fcf6246b-462f-4f71-8a4a-e62fc57e7e1b-4
00:08:39.090 --> 00:08:42.319
vision? You look, if I'm
absolutely blatant about it, the

fcf6246b-462f-4f71-8a4a-e62fc57e7e1b-5
00:08:42.319 --> 00:08:45.603
team at field want to dominate
the software market for the

fcf6246b-462f-4f71-8a4a-e62fc57e7e1b-6
00:08:45.603 --> 00:08:48.777
execution of field force
operations. The UK market's been

fcf6246b-462f-4f71-8a4a-e62fc57e7e1b-7
00:08:48.777 --> 00:08:52.340
incredible. We now want to, you
know, double down and make sure

fcf6246b-462f-4f71-8a4a-e62fc57e7e1b-8
00:08:52.340 --> 00:08:55.180
that all of those early
customers are getting out.

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00:08:55.250 --> 00:08:58.593
Brand promise, right, 10 times
ROI for everybody within six

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00:08:58.593 --> 00:09:01.602
months of deployment is
absolutely massive for us and

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00:09:01.602 --> 00:09:05.112
we're achieving it and we want
to help them go further. That's

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00:09:05.112 --> 00:09:08.400
excellent. So your view has
changed on Teachers' or I would

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00:09:08.400 --> 00:09:11.966
say the positives that I thought
would be there. They've played

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00:09:11.966 --> 00:09:15.477
out well for us. You know, I've
got access to to people within

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00:09:15.477 --> 00:09:18.764
Teachers' who have been in the
infrastructure market for 30

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00:09:18.764 --> 00:09:22.275
years. I can go and talk to them
and get their perspectives. A

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00:09:22.275 --> 00:09:24.950
lot of the the corporate social
responsibility.

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00:09:25.270 --> 00:09:28.489
Aspects that Teachers' would talk
about in market, I see that

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00:09:28.489 --> 00:09:31.814
plays out and it really aligns
to some of FYLDs core values.

beec2b62-81da-4b63-adf0-dd30b0d73974-2
00:09:31.814 --> 00:09:34.559
Our product delivers
sustainability and it delivers

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00:09:34.559 --> 00:09:37.567
you know health and safety
outcomes. I've actually found

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00:09:37.567 --> 00:09:40.470
there's an awful lot of
alignment between what the two

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00:09:40.470 --> 00:09:43.795
of us are trying to achieve and
that's a great spot to be with

beec2b62-81da-4b63-adf0-dd30b0d73974-6
00:09:43.795 --> 00:09:46.540
your investor from Koru
innovation to international

beec2b62-81da-4b63-adf0-dd30b0d73974-7
00:09:46.540 --> 00:09:49.601
application across multiple
verticals in under five years

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00:09:49.601 --> 00:09:52.557
FYLDs data LED safety
revolution in the utility sector

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00:09:52.557 --> 00:09:55.460
is one of the many ways Ontario
Teachers' pension plan

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00:09:55.530 --> 00:09:59.835
is investing to make a mark?
Ontario Teachers' Pension plan

be81ef1e-3d22-4c83-ad5b-20046a233aef-1
00:09:59.835 --> 00:10:01.660
investing to make a mark.