Smartcool Systems Inc. (TSXV: SSC), is pleased to report that the Company has completed the formation of it's new subsidiary Smartcool Systems EMEA Inc., located in the UK and has finalized the transaction to acquire the business and assets of TECC Services Limited of the United Kingdom ("TECC"). Prior to the acquisition, TECC held the exclusive re-sale rights to a selection of the Company's products in certain countries in Europe and the Middle East (the "Distribution Rights"). As previously reported, effective June 16, 2008, the Company's wholly owned subsidiary, Smartcool Systems (EMEA) Ltd., reached an agreement with TECC to acquire the Distribution Rights and related business assets for 1,035,000 pounds sterling in cash, payable over a four-year period, and the issuance of common shares that is equal to the value of 265,000 pounds sterling based on the 20 day trading average proceeding the transaction.

 

"This is a significant transaction for Smartcool in many ways and we see this as a pivotal point to expand our sales growth in Europe and the Middle East," states George Burnes, President and CEO of Smartcool Systems Inc. "It fulfills our goal of establishing a corporate presence in Europe to expand sales efforts in this region. It will also allow us to support existing and new relationships in the Middle East. We plan to build a strong team in Smartcool EMEA and focus on the currently untapped market in India through this organization as well. We will now be selling directly to clients in Europe, the Middle East and India. This will improve our margins by approximately 30% from sales in these regions and we will be in greater control of the sales and marketing process. As part of the acquisition, Andrew Sanders and Steven Martin, formerly with TECC, will be joining Smartcool EMEA in senior management roles. They have a great deal of experience in the energy efficiency field, have a wealth of contacts in Europe and the Middle East and have been vital in the growth of Smartcool's Energy Savings Module (ESM™) with sales to the likes of Tesco and Gate Gourmet."

"Smartcool is committed to deploying resources and capital to enable Smartcool EMEA to expand the sales and marketing team in this region,' added Chris Lefaivre, VP, Sales and Marketing. "The cost of power generation is a significant problem in Europe and the Middle East and their energy efficiency programs are further advanced than those in the U.S.A. We have an opportunity to accelerate our sales growth and we are going to make sure the resources are in place to take advantage of it."

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

Press Release RSS

Press Release RSS

Latest Press Releases

Smartcool Systems Inc. Adds Business Development Manager as Growth Continues to Accelerate in the UK

Vancouver, B.C. November 15, 2017, Steven Martin, Smartcool’s Executive VP EMEA, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce the addition of Julian Sylvester, an experienced Sales Executive who has an extensive background within the energy efficiency market.

Smartcool Continues to add Sales Staff as Growth Accelerates in the UK

Vancouver, B.C. October 25, 2017, Steven Martin, Smartcool’s Executive VP EMEA, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce the addition of a seasoned Sales Executive to the UK team with more to be announced soon. The additional sales executive, Jon Cullum, has an extensiv...

Smartcool Saves 30% Power Consumption At A Quick Serve Restaurant in Jamaica

Customer Operates 60 LocationsVancouver, B.C. October 17, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce the results from an initial installation at a Quick Serve Restaurant (QSR) in Kingston, Jamaica.

Smartcool Establishes North American Installation Network

Vancouver, B.C. September 26, 2017, Ted Konyi, CEO, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce that the company is establishing an installation and servicing network for its operations in North America.

Anesco Ltd., A Cleantech 100 Co. and Smartcool Progress Their Sustainable Technology and Energy Par…

The UK’s leading energy efficiency solutions provider and Sunday Times Fast Track 100 company, Anesco Ltd, have strengthened their No1 position in the UK by partnering with Smartcool to deliver further energy saving solutions.

Smartcool Distributor Installs at McDonald’s Chain in Riyadh

Achieves 20% Savings on Air-conditioning costs at The Luxury Tiara Hotel RiyadhVancouver, B.C. September 12, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to report that Kafaat Energy Company, its distributor in Saudi Arabia has been appointed by Riyadh International Catering C...

Smartcool 2nd Quarter Revenues Grow 300% over 1st Quarter

Vancouver, B.C. August 29, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to report that it has filed its Second Quarter Management Discussion and Analysis ("MD&A") and unaudited financial statements for the six-month period ended June 30, 2017, on SEDAR.

Smartcool Systems Inc. Announces Jamaican Partnership and Multiple Jamaican Installations

Vancouver, B.C. August 21, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce today a joint venture partnership with Alternative Power Sources Limited (“APS”) in Jamaica.

Smartcool Systems Inc. Announces First Funded Sale

Aug 14, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF)is pleased to announce today the first sale of a funded Smartcool installation. The sale was made to Loscoe Chilled Foods Ltd. and is expected to be installed over the next few weeks. Loscoe is in the food processing and distribution busine...

Smartcool Announces Private Placement Offering

Vancouver, BC. Aug 10, 2017, Ted Konyi, CEO, Smartcool Systems Inc. (TSXV: SSC) (the "Company") is pleased to announce a non-brokered private placement offering (the "Offering") of up to 8,000,000 units (the "Units") at a price of $0.05 per Unit, for maximum gross proceeds of $400,000.

Follow Us

Twitter   RSS Feed   YouTube   Linkedin   Facebook

Translate

English French German Italian Portuguese Russian Spanish