MONTREAL, Feb. 11 /CNW/ - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, has joined forces with Pacific Financial Resources (PFR) of Marina del Rey, California, (www.pacificfinancialco.com) to facilitate the sale of renewable energy. The energy will be delivered under Energy Supply or Power Purchase Agreements in the form of hot water produced by Sofame's proprietary high efficiency heat recovery and hot water heating systems. The costs of installing Sofame's heating products will be paid from efficiency gains and lower fuel costs after the projects are completed. The Pay-for-Performance or ESCO model makes energy efficiency technology accessible to credit-worthy companies who agree to purchase energy and reduce green house gas emissions without investing upfront capital.
Tony Ellsworth, President of PFR said "Sofame's products are tailored for food processing, industrial, institutional and government customers. In the United States, these markets are seizing opportunities to reduce costs through energy efficiency which also helps the environment."
John Gocek, COO of Sofame, added that supplying clean renewable energy to customers is far more attractive than the mere leasing of equipment. "Sofame customers now have a way to lock-in affordable long-term green energy supplies without the burden of investing upfront capital or even declaring a capital expenditure."
Sofame's ongoing discussions with PFR culminated in a Memorandum of Understanding to work together and collaborate on a turn-key energy and financing solution while Sofame was exhibiting at the ASHRAE show in Orlando, Florida, which is near PFR's east coast office. Sofame reported that interest in its energy efficiency products seems to be on the rise in the United States. This may be due in part to the increasing availability of stimulus funding under the American Re-investment and Recovery Act.
About Pacific Financial Resources
PFR is a full-service financial organization and direct funding source with thirty-five plus years' experience leasing and financing a broad spectrum of equipment for both large and small corporations. PFR, however, goes one step further in its financing capabilities to include "soft" assets, engineering & installation, leasehold improvements and the monetizing of service and supply agreements that are needed to support a particular equipment transaction. PFR is big enough to handle all leasing and financing needs in a competitive, cost-effective manner, but small enough to provide personal, on-site service to ensure the smooth completion of any equipment acquisition. For more information, visit www.pacificfinancialco.com.
Sofame Technologies Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases depending on the application, and return the energy in the form of high-temperature hot water or pre-heated make-up air. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions. Using world-leading, patented green technology, Sofame serves industrial, institutional and commercial markets through a network of dedicated engineering representatives. For more information, visit www.sofame.com.
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SOURCE Sofame Technologies Inc.
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