Vancouver, B.C.-- Smartcool Systems Inc. (SSC:TSX.V) has been approved 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.

 

Under the provincial government's Venture Capital Program, an individual investor earns a 30 percent tax credit that is fully refundable for every dollar of capital invested in eligible companies such as Smartcool Systems.

"Investment in clean, green technologies is an investment in our economy, our environment and our future, and the provincial government's support for our industry is welcome and timely," said George Burnes, president and CEO, Smartcool Systems. "As a successful and growing clean-tech company, we will leverage the investments this program helps generate to continue developing innovative products that make air conditioning and refrigeration systems more efficient, cost-effective, and environmentally friendly."

Innovative clean technologies that reduce greenhouse gas emissions are expected to play a key role in helping to grow B.C.'s economy.

"Enterprises such as Smartcool Systems are creating a world-class cluster of clean technology companies in B.C. that offer jobs, opportunity and energy-efficient products that reduce greenhouse gas emissions and help manage climate change," said Technology, Trade and Economic Development Minister Ida Chong.

The venture capital program provides for a maximum credit per investor per year of $60,000, which would be realized by a $200,000 investment. Companies must keep capital raised under the program invested for five years.

For more on the B.C. government program and eligible investments, please contact your investment advisor.

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
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