Partnership seen as an important step toward expanding Sofame's business
activities into Europe
MONTREAL, March 14 /CNW Telbec/ - Sofame Technologies (TSX-V: SDW), a
leading Canadian manufacturer of innovative commercial-industrial heat
recovery equipment, has signed a Memorandum of Understanding with Soffimat SA
of Paris, France. The proposed agreement outlined in the MOU calls for
Soffimat to represent Sofame as its exclusive distributor in France and,
pending agreement of the parties, throughout Europe, the Middle East and North
Soffimat plans to first install Sofame's direct contact heat recovery
condensing boilers in several of the powerplants it currently owns or operates
under contract in France. In addition to benefitting from the energy savings
and resulting carbon credits at these initial locations, Soffimat intends to
invite its existing customers to inspect the units and see them in operation.
Mr. Richard Groome, Chairman of Sofame Technologies Inc., said "Sofame's
technology is clearly world-class, and our new relationship with Soffimat is
expected to present many new opportunities in the coming months." Mr Groome
went on to say, "Our plan is to deploy Sofame's technology with several
strategic partners worldwide over the next twenty-four months."
Mr. Rami Shehabi, President of Sofame International, added "Soffimat will
open the door to Sofame's rapid expansion in Europe, where the energy market
is intensely focused on efficiency, savings and innovative green
Mr. Fahim Samaha, President of Soffimat SA, said "Sofame has brought
condensing boiler technology to large applications that truly offer impressive
cost savings and better environmental performance. We are thrilled to
cooperate with Sofame in France and hopefully throughout Europe, the Middle
East and North Africa."
John Gocek, President and Chief Executive Officer of Sofame Technologies
Inc., added "With current oil prices at $110 a barrel, there is no question
that the market potential for waste heat recovery is substantial and growing.
Sofame plans to expand the capabilities of its sales and engineering
departments to respond to the increasing quote volume resulting from our new
relationship with Soffimat. We are very pleased that Sofame's green solutions
will soon be made available to clients who generate power in France, and
potentially throughout Europe, the Middle East and North Africa."
Sofame Technologies Inc. custom engineers and manufactures unique,
high-efficiency direct-contact heat recovery and hot water heating systems.
Sofame's products extract up to 99% of heat from flue gases depending on the
application, and also from wastewater, and return the energy in the form of
high temperature hot water or pre-heated make-up air. In addition to
economically recovering heat from waste energy, Sofame's products also help
customers to significantly reduce greenhouse gas emissions. Using world
leading patented green technology, the Company serves building owners, public
and private infrastructure, institutional, industrial and commercial markets
through a network of dedicated engineering representatives.
Soffimat SA, a Paris-based company, has been active in energy conversion
and power generation for the past 20 years. Soffimat has participated as
either contractor, operator, owner or promoter in power projects representing
over 1.4 gigawatts of installed capacity of different energy technologies,
including gas turbines, gas and diesel engines, microturbines and thermal
energy recovery systems. Soffimat has recently established a strategic focus
on renewable energy and innovative concepts to save energy and increase fuel
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or accuracy of this release.
For further information:
For further information: Sofame Technologies Inc.: Kelly Hamblin, (514)
523-6545 ext. 233, email@example.com; Jérôme Cliche, (514) 523-6545 ext.
249, firstname.lastname@example.org; Soffimat SA: Hans Polz, 33 1 55 37 46 00,
email@example.com; Fahim Samaha, 33 1 55 37 46 00, firstname.lastname@example.org