Smartcool Software Delivers Savings in Emerging Solution for Automated Energy Management in Small Commercial Buildings
VANCOUVER, April 8, 2014 /CNW/ - Smartcool Systems Inc. (TSX-V: SSC) is actively moving into the 'internet of things', as its proprietary algorithms provide a unique tool to revolutionize the automation of energy efficiency and energy management in small commercial buildings. Since signing a Software Licensing Agreement in December 2013, smartACR has made substantial progress developing an automated energy management system by integrating Smartcool's software with its wireless control sensors and cloud based thermostat for air conditioning, heat pump and refrigeration systems.
Over 4 million small commercial buildings in the USA (90% of all buildings in the country) have no IT-infrastructure to manage energy use because it has not been cost effective. smartACR is introducing a new solution for small buildings, providing a self-funding automation service consisting of intelligent wireless control sensors and a cloud-based automation platform.
Smartcool's software is forming the backbone of this new solution, which is reducing energy consumption of the air conditioning, heat pump and/or refrigeration systems in small buildings by an average of 25%. Cost savings from the automated energy management system far exceed a nominal monthly fee, so operators of small facilities can get all of the benefits of building automation, generating immediate cash flow with no out-of-pocket costs.
"Small buildings do not have energy management like this because legacy systems are too complicated and expensive to automate with existing products on the market. The business case just isn't there," says Paul Gregory, CEO of smartACR. "Smartcool's software provides defined, predictable and measurable savings that make the automation of small commercial buildings not only financially viable, but financially attractive. Cloud-computing and wireless sensors matched with Smartcool's software make it possible for any facility to install a self-funding automated energy saving system."
smartACR's offering is being rapidly adopted by customers. smartACR is rolling out this service with numerous Dunkin Donuts franchisees including CAFUA management; the largest Dunkin brands franchisee in the world, as a part of National Grid's energy efficiency program for restaurants. Many other trail blazing customers are also moving forward into automated energy management with smartACR, including Oschner Health System, 5-Star Senior Living and Five Guys Burgers & Fries.
"The quick acceptance of smartACR's offering is a strong indicator of the high demand for energy savings and easy, automated management for small businesses," says George Burnes, President and CEO at Smartcool. "The financial model really sells itself thanks to Smartcool's contribution of substantial energy savings. We are thrilled to see smartACR making such excellent progress and expect this to develop into a highly profitable revenue stream for Smartcool. We will see income not only from royalties under our Software Licensing Agreement, but also from our ability to offer smartACR's new products and platform to our own customers."
Smartcool is supporting smartACR in finalizing product integration and anticipates rapid market penetration once the final stage of development is complete on the wireless control sensors, cloud based thermostat and web platform in the late stages of Q2 2014.
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smartACR is an independent distributor of Smartcool's ECO3 & ESM and a licensee of Smartcool's compressor optimization software algorithms in the USA. Operating out of offices in Boston and Houston, smartACR is focused on developing and delivering energy efficiency solutions for air conditioning and refrigeration systems. www.smartacr.com
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. Visit us at www.smartcool.net or www.smartcooleco3.com or email us at email@example.com
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Mike Kordysz, Smartcool Investor Relations
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