Smartcool Provides Business Update - Sales and Installations in the US
Vancouver, BC, November 14, 2019 | Smartcool Systems Inc. (TSX: SSC.V OTC: SSCFF FSE: R3W) (“Smartcool” or the “Company”) is pleased to report that Total Energy Concepts Inc. (TEC), the company’s wholly owned subsidiary, is currently completing several auto dealership projects with two different auto groups. One of the projects is a full system solution package, which includes Voltage Conditioning, Smartcool, and LED Lighting. The second project is a parking lot LED upgrade package that involves converting their existing T5HO fluorescent fixtures to LED, which results in 60% more energy savings per fixture for their outdoor lighting.
Damian Smith, President of TEC, commented, “These follow on orders are the result of an energy efficiency initiative that these dealerships started with us five years ago. It is continued proof of the effective financial benefits that we bring to customers through energy savings, reduced maintenance, downtime expenses and future cost savings. Reducing expenses is an excellent way to gain financial strength and improve the bottom line. Our optimization solutions can help provide that strength and in many cases result in a net positive cash flow each month through our $0 capital financing option. There are significant tax incentives, energy efficiency grants and in some areas utility rebates available for qualified businesses which further increase the financial benefits to customers. Combined with the environmental benefits, it is a win-win solution!”
Smartcool has also continued to grow its sales agency network with the additions of several new agents in the US and the UK. This has led to multiple projects that are progressing in Puerto Rico, California, the UK and India. Despite the delays in filing its continuous disclosure documents, the company continues to grow its businesses.
Finally, the Company wishes to advise its stakeholders that it continues to work with its auditors to complete the audit of its annual financial statements for the year ended December 31, 2018. While the process has been slower than expected, progress is being made and we continue to work on the filings to bring the Company current.
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.