VANCOUVER, April 7, 2015 /CNW/ - Smartcool Systems Inc. (TSX-V: SSC); Ted Konyi, CEO and Chairman of Smartcool Systems Inc. is pleased to announce that it has entered into an agreement to absorb the business of its distributor SmartACR.
SmartACR has been a distributor for SmartCool products for the last 3 years. In addition, SmartACR has developed, under exclusive license from Smartcool, a wireless thermostat with Smartcool's proprietary algorithm inside. This product will now be owned and marketed directly by Smartcool. The new product will be targeting the small to medium size enterprise (SME) primarily in the retailing sector where Building Management Systems (BMS) are not generally deployed.
SmartACR has had success in the SME market with Smartcool product including initial installations with Dunkins Donuts, Five Guys Burgers and Fries, Nestle Foods, Campbell's and Victoria Stations. SmartACR has also had success with applying for and receiving rebates and subsidies from utilities in the U.S. Northeast.
Simultaneously to absorbing SmartACR's business, Smartcool is entering into a consulting contract with Paul Gregory, CEO of SmartACR. Paul will join Smartcool as VP Sales. His focus will be completing sales of Smartcool product to the existing sales funnel developed over the last few years within SmartACR.
Paul's deep sales experience is drawn from a 20-year career of building and selling to companies in industries as diverse as logistics, telecommunications, software and energy technology.
Paul is excited to help position Smartcool as the dominant player in transforming HVAC-Refrigeration systems into the age of the Internet of Things (IoT) to reduce costs, pollution and risk for retailers across America. Paul expects to add significantly to the sales efforts of SmartCool in focusing on selling directly to end-users.
Legal Notice Regarding Forward Looking Statements
This news release contains "forward looking statements". Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as "expect", "anticipate", "intend", "plan", "believe", "estimate" and words of similar meaning. Forward-looking statements are based on management's current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward looking statements. Forward-looking statements in this news release include those concerning the company's belief in the growth opportunities in North America. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statements. Risks that may prevent or delay the forward looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company's website, www.smartcool.net.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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.
SOURCE SmartCool Systems Inc.
For further information: WEB: www.smartcool.net and www.smartcooleco3.com, EMAIL: firstname.lastname@example.org; Investor inquiries: Mike Kordysz, TEL: +1 604 904 8632, EMAIL: email@example.com