Vancouver, BC. August 19, 2014, Smartcool Systems Inc. (TSX-V: SSC) is pleased to announce it has signed a distribution agreement with Smartcooling LLC (Smartcooling) and received an initial order of ECO3 units.
Smartcooling is a new independent distributor, formed for the specific purpose of broadening the base of users of Smartcool's technology. Smartcool has traditionally delivered its proprietary compressor optimization algorithm via its ESM and ECO3 hardware platforms to save energy on refrigeration, air conditioning and heat pump systems for larger commercial customers. Smartcooling will be focused on deployment of the ECO3 product to residential users and select small commercial facilities.
The key differentiator of Smartcooling's approach to the market is their ability to provide residential customers with a low monthly financing structure that yields immediate net savings. This removes the potential purchase barrier of an upfront capital expenditure. Results to date have shown this method is successful in winning new business and delivering value to the end customer.
Andy Loza, CEO of Smartcooling LLC, commented, "The concept of providing net savings to customers as soon as the ECO3 is installed is a prime example of the opportunity that exists to broaden the base of users saving money on their electrical bill. Florida's power costs have risen significantly over the last several years with no relief in sight. We intend to expand our efforts to the small commercial sector where they too want to save costs wherever they can while continuing to provide an excellent customer experience."
Smartcooling's initial regional focus has been in the west coast of Florida, but their contact base is also extensive in the NYC region where electricity costs are amongst the highest in the country. While air conditioning in this area is limited to the hot summer months, refrigeration requirements are year round and offer an excellent opportunity to save energy with the ECO3. In addition to the US-based initiatives, Smartcooling is also well connected in Western Europe and sales initiatives there are expected to commence shortly to small commercial customers like convenience stores and gas stations.
George Burnes, CEO of Smartcool adds, "We are very excited to add Andy and the Smartcooling LLC team to our growing list of distributors. Smartcooling LLC also has a network of sub-distributors to deliver our product to the market. With their sales initiatives already underway, this new agreement should add to the overall sales of our company ."
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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.