Vancouver, BC. December 13, 2016 Smartcool Systems Inc. (TSX-V:SSC)(OTCQB-SSCFF) is pleased to announce that Smartcool, has completed a further successful installation and is pleased to announce the following update. Ted Konyi, CEO, stated "Over the last six months Smartcool™ Systems has been actively pursuing relationships with facilities management intermediaries. This has resulted in several successful pilot programs, which are now yielding significant follow-ups on installations of Smartcool™ technology. Primary focus of this activity has been centred in the United Kingdom."
These pilots have included a major UK water utility, one of Britain’s largest energy providers and a multidimensional transportation operator. The financial benefits of these installations have exceeded 20% savings in power consumption. The company anticipates that while the impact on Smartcool financials will result in fourth quarter improvements, the follow on sales of Smartcool will provide significant profitability commencing in the first quarter of 2017.
The company has also added a new distributor in the Kingdom of Saudi Arabia (KSA). Kafaat Energy is the first company in the KSA to deploy an ESCO (shared savings) model. Steven Martin, EVP EMEA for Smartcool, commented "Kafaat commenced several successful installations of Smartcool products in the last month. Their interest level is extremely high and they are generating interest in new opportunities daily. The order book is expected to grow rapidly with support from the Smartcool UK team."
Bashar Abdulrahman, CEO of Kafaat, added, "Smartcool™ has demonstrated that it is a premier energy efficiency technology. We have already started to add major clients to the Smartcool™ family and anticipate many thousands of installations. The KSA has major energy efficiency initiatives and given the year round hot environment is a natural for Smartcool™ products."
In addition to these developments, Smartcool has added new distribution channels in South America, Latin America and the Caribbean. This is expected to also add to sales in 2017.
Smartcool Systems Inc. (TSX-V: SSC) provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3 and ESM are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by 15% to 20%, giving customers a return on investment in as little as 12 months.
About Kafaat Energy
KAFAAT® Energy is focused on providing multiple services in energy monitoring and energy saving. Partnering with leading vendors of energy monitoring and energy saving solutions, which enables us to help our customer understand their energy spending and guide them to the best approach of saving energy. Our energy services are well designed to ensure that our customers receive a trusted advice about their energy consumptions and energy portfolio supported by a high caliber staff with extensive expertise in consultancy and engineering.
Legal Notice Regarding Forward Looking Statements
This news release contains “forward looking statements”. Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as "expect", "anticipate", "intend", "plan", "believe", "estimate" and words of similar meaning. Forward-looking statements are based on management’s current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward looking statements. Forward-looking statements in this news release include those concerning the company’s belief in the growth opportunities in the United States. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statements. Risks that may prevent or delay the forward looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company’s website, www.smartcool.net.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.