Vancouver, B.C. -- Smartcool Systems Inc. (TSXV: SSC) generated revenues of $204,793 for the third quarter ended September 30, 2008 compared to revenue of $54,107 for the third quarter ended September 30, 2007. Smartcool revenues rose to $747,829 for the nine-month period ended September 30, 2008 from $263,697 for the same period in the previous year, representing an increase of 184 per cent.

 

Smartcool Systems, whose Smartcool Energy Saving Module (ESM)™ makes refrigeration and air conditioning systems more energy and cost-efficient, recorded a net loss of $1,337,484 for the three-month period ending September 30, 2008 compared to a net loss of $1,066,472 for the corresponding period in 2007.

"Our third-quarter results continue to show solid revenue growth over previous periods and reflect the investments we are making in sales support and growing our distribution footprint," stated George Burnes, President and CEO of Smartcool Systems Inc. "Our strategic application of company resources is creating business opportunities in key Sunbelt markets in North America and abroad."

During the third quarter, Smartcool announced installations at Bezeq Israel Telecom, Israel's largest telecommunication service, a distribution agreement with Williams Evergreen Ltd. of Barbados, and approval by the B.C. Ministry of Technology, Trade and Economic Development for its Clean Tech Innovation Venture Capital Program, which offers tax credits to investors in clean technology companies operating in B.C. Recently, Smartcool announced it has received an order from the seven-storey, 246-guestroom Radisson SAS Hotel located in Media City, Dubai.

"With today's global economic uncertainty, companies are looking to invest in technologies that provide energy and cost savings and offer rapid pay-back on investment," added Allan Thompson, Smartcool CFO.

About Smartcool

Smartcool Systems Inc. (TSX-V: SSC) delivers cutting edge energy efficiency and cost reduction solutions for businesses around the world. The ESM™ and ECO3™ are Smartcool’s unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems. Energy savings achieved by the ESM™ and ECO3™are quantifiable and the products can qualify for government and utility rebates. The technology has been validatedby rigorous third party testing, government organizations and private business installations.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

 

Investor Inquiries

Mike Kordysz
Tel: +1 604 904 8632
mike.kordysz@smartcool.net

TSX-V: SSC
OTC: SSCFF
Frankfurt: R3W

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