Smartcool Establishes German Subsidiary and Installs First Units at International Food Processor
Installation Assists in Achieving GHG Reduction Policies
Wednesday, 09 April 2019
Smartcool Systems Inc. (TSX: SSC.V OTC: SSCFF FSE: R3W) are pleased to announce that Smartcool has established a wholly owned subsidiary in Germany. Smartcool Systems GmbH has been established in Germany for the purpose of selling is products directly into the German market.
The company has retained the services of Dr. Georg Hochwimmer to both manage the operations of the company and build a sales team for the country. Dr. Hochwimmer is well known to Smartcool management team and has had a successful career in assisting numerous small technology companies in financing and sales activities.
An installation has been completed in Germany at a large international food processing company. The company has 9 facilities in Germany and a total of 65 locations worldwide. Initial results are being monitored and savings are expected to be in the range of 25% - 40%. Once the initial installation savings have been confirmed the company expects other plants to install Smartcool technology.
Ted Konyi, CEO, stated “I’ve known Georg for many years and have admired his strong business skills. I’m very pleased that he has joined the Smartcool team in this capacity. Establishing a presence in Germany is another positive step in the company’s growth plans. In addition to Smartcool’s proprietary optimization technology, I anticipate the products developed by our Total Energy Concepts division should also have applicability in this significant industrial market.”
Dr. Hochwimmer added “the German marketplace is very large, particularly its manufacturing base. The electricity rates are amongst the highest in Europe, far exceeding the costs in the USA. In addition, the government’s energy policies and mandates for emissions reductions are a strong driver for companies to search out efficiency technologies. The combination of high rates and a need to reduce emissions, creates a tremendous opportunity for Smartcool and its suite of efficiency technologies. We are already generating interest and anticipate additional sales in the near term.”
About Smartcool
Smartcool Systems Inc. provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3, ESM and ECOHome 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%.
Total Energy Concepts (TEC), a wholly owned subsidiary of Smartcool, is a national leader in Power Protection, Energy Management, Power Quality, Facility Grounding, and Lighting Solutions that help companies improve their bottom line by reducing expenses that drastically cut into company profits. TEC focuses on a holistic approach to energy efficiency with proprietary technologies for power factor correction and third party technologies including LED, voltage conditioning and intelligent motor controls.
For further information
www.smartcool.net | www.smartcooleco3.com | EMAIL info@smartcool.net
Investor Inquiries
Mike Kordysz,
Vice President, Investor Relations
TEL +1 604 904 8632 | EMAIL mike.kordysz@smartcool.net
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.