Vancouver, B.C. Smartcool Systems Inc. (TSXV: SSC) is pleased to report that the company has signed an exclusive agreement with Lumina Solar Ltd., based in Nicosia, Cyprus, to distribute Smartcool's Energy Savings Module™ (ESM™) in Cyprus. Lumina Solar will also market Smartcool's ECO3™ on a non-exclusive basis. Lumina Solar has agree to make minimum annual purchases of Smartcool inventory to obtain and retain the exclusive rights for the ESM technology.

 

Electricity Dependence and Rate Rises Drive Cyprus to Energy Efficiency Technology

The Republic of Cyprus is the third largest island in the Mediterranean. It is a prosperous country with a diversified economy. It is one of Europe's most popular tourist destinations attracting over 2.4 million visitors per year.

In recent years both industrial and residential users have experienced rapid increases in electricity rates that have raised Cyprus' rates to well over the average cost in the European Union. Residential rates are approximately US$0.20 per kilowatt Hour (kWh) with industrial rates running slightly lower at approximately US$0.18/kWh. As there is no supply of natural gas, Cyprus is currently solely dependent on electricity.

"The island of Cyprus is reliant on electricity and with rapid rate increases there is growing pressure to implement energy efficiency initiatives to reduce costs and maintain control of energy demand," stated Steven Martin, Director, Sales, Smartcool Systems (EMEA) Ltd. "We are very happy with the relationship we have developed with Lumina Solar as they have the experience within the marketplace to represent our line of products from a technical perspective. In addition, they are already looking further afield in order to expose the Smartcool brand to a wider audience in that area of Europe."

We are pleased with the level of financial and technical commitment being made by Lumina Solar to obtain these distribution rights in Cyprus " commented George Burnes, President & CEO of Smartcool Systems, "as these commitments continue to help build the global exploitation of our technology and ensure future revenues for our Company".

About Lumina Solar Ltd.

Lumina Solar Ltd. is a subsidiary of the Lordos Group of Companies. The Lordos Group is a highly diversified organization that constantly evaluates very carefully new trends and market needs, and enters the market with appropriate propositions and products to meet them. The Lordos Group was founded in the early 20th century in Famagusta, Cyprus, by Mr. George D. Lordos, the father of the Gorup's present chairman Mr. Constantinos G. Lordos.

The Lordos group has the following operating divisions; Property development, Energy, Food trading & Processing, Hotels & Leisure, Construction, Architecture, IT Services, Property Management, Investments, Capital Management.

Founded in 2007, Lumina Solar's mission is the consultancy, financing and commissioning of renewable energy production and the sale and installation of energy efficiency systems, based on new technologies, in markets ranging from South Eastern Europe to North Africa.

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

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