Vancouver, BC. October 9, 2014, Smartcool Systems Inc. (TSX-V: SSC) is pleased to announce that it has signed a distribution agreement with a new Distribution Partner in the strategically significant Caribbean market. Tri-Caribbean Energy has begun to sell Smartcool's ECO3 product in order to optimize the performance of the air conditioning, refrigeration and heat pump systems of their commercial and residential customers in Barbados, Grenada, St. Lucia, Dominican Republic, Guyana, Trinidad & Tobago and Jamaica.
The Caribbean region is currently dependent upon power generated from imported fuel, resulting in extremely high electrical rates that average approximately $0.39/kWh and a market that is highly motivated to become more energy efficient in order to minimize these costs.
"Smartcool recognizes that the Caribbean is an ideal market for our technology and we are continually seeking world class local distribution partners whom we can support from our sales and technical hubs in South Florida" states Chris Lefaivre, VP of Operations at Smartcool and head of distribution in the Americas. "Tri-Caribbean Energy's business strategy of challenging and assisting Caribbean businesses and homeowners to 'find your energy independenceTM' is truly unique and is perfectly aligned with Smartcool's corporate values; as such we are thrilled to welcome them to our network."
Tri-Caribbean Energy (TCE) has its head office in Christ Church, Barbados and under the leadership of Perry Douglas; TCE is delivering a fully financed offering of energy conservation technologies and clean energy generation solutions. Perry is an accomplished finance executive who has worked at RBC, UBS and at AIC Funds in the position of Senior Vice-President where he worked directly with AIC Chairman and billionaire investor Michael Lee-Chin. Perry is now devoting his business acumen, local contacts and entrepreneurial drive to building a business that will help lead regional economic recovery, prosperity and sustainability through green energy management.
"Creating a sustainable Caribbean begins with freeing our businesses and homeowners from the crippling costs and damaging environmental effects of foreign-owned, fossil-based fuels" explains Perry Douglas, President & CEO of Tri-Caribbean Energy. "The Smartcool ECO3 product has been well received by our customers and it is a very important part of our strategy to quickly reduce our customers' operating expenses through energy conservation before turning our attention to building the capacity for independent on-site clean energy generation".
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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.