Smartcool Systems Inc. Announces First Funded Sale
Monday, 14 August 2017
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 business in Derbyshire England. The Utility Team was instrumental in the sale, assisting Loscoe in achieving Energy Efficiency through various means including Smartcool’s proprietary technology.
Steven Martin, Smartcool’s Executive Vice President said "Working with The Utility Team has been very successful in providing Energy Efficiency solutions for their clients. With the advent of the funded program, many more of The Utility Team clients will be able to benefit from our technology. Some of our other industry partners have also begun introducing our funded program and are expecting to generate many new opportunities to provide their clients with Smartcool’s proprietary technology."
Matt Jakeman, CEO of The Utility Team commented "Smartcool’s technology has proven efficiency at a number of our client’s sites and provides The Utility Team with an opportunity to bring this energy efficiency opportunity to our clients without any major up front capital expenditure. All of our clients are looking to reduce their carbon footprint and being able to offer Smartcool for this purpose without a major expenditure is going to help us grow our business."
Smartcool will be installing its proprietary devices on 34 refrigeration units at Loscoe. The installation would normally require Loscoe to expend over $100,000, but with the funded solutions offered by Smartcool, Loscoe expects to cover the cost of installation over three years with energy savings covering all the costs. After three years, all the savings are for the benefit of Loscoe.
Smartcool Systems Inc. (TSX-V: SSC OTC: SSCFF) 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 up to 40%, giving customers a return on investment in as little as 12 months.
About The Utility Team
Utility Team is one of the UK’s leading utilities and energy consultants, providing a wide range of value added utility. With a head office in Coventry they now operate from two locations, have over 35 employees, manage more than 5,000 metering points and are responsible for managing hundreds of millions of pounds spend of energy annually. Utility Team were founded in 2007 when two like-minded individuals who had been working in the energy industry for over 25 years came together with a vision to form an energy cost management consultancy. Their aim and success has been to drive their clients costs down by taking a holistic approach to energy cost management. Procurement of energy is the core solution they offer, however their experience and support in pioneering innovative products and services, combined with excellent customer care provided by their expert energy consultants has seen them grow beyond all expectations.
Web Site: http://www.utilityteam.co.uk
About Loscoe Chilled Foods Ltd.
Loscoe Chilled Foods Ltd are a family owned business founded in the 1970’s and operate from their centrally located AA BRC grade factory located in Heanor Derbyshire. They are the premier meat supplier to the UK and European Food Manufacturing and service industries, their customer base is made up of a direct supply to retailers (20%), Major UK Food Manufacturers (50%) and Food Service Sector (30%).
Web Site: http://www.loscoechilledfoods.com
For further information
Vice President, Investor Relations
TEL +1 604 904 8632 | EMAIL firstname.lastname@example.org
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Forward looking statements in this release include those concerning the size and timing of the Offering and the proposed use of proceeds. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.