-Upon completion, TCX understands that Gotec intends to finalize a supply agreement with a leading international appliance manufacturer to use the AIO pump in the development of a high-performance espresso machine-
MONTREAL, July 29, 2015 /CNW/ - ThermoCeramix Corporation ("ThermoCeramix", "TCX" or the "Company") (TSX Venture Exchange: TCX.V), a technology-licensing company engaged in the development of energy-efficient electric heating solutions, announced today that it has entered into a development agreement (the "Agreement") with Gotec SA ("Gotec"), a global leader in the design and manufacture of consumer and industrial pumps, to co-develop the next generation of Gotec's All-In-One ("AIO") pumps using the Company's proprietary TCX™ heating technology. Upon the successful completion of the co-development process, the Company understands that Gotec intends to finalize a supply agreement with a leading international appliance manufacturer to use the co-developed AIO pump in a high-performance espresso machine. Gotec's AIO concept merges the three essential components of an espresso machine, namely the water pump, heater, and water pressure controller, into one compact, noise- and vibration-free instrument.
"This development agreement with Gotec further underscores our platform technology's broad application potential," stated Louis Desmarais, Chairman and CEO of ThermoCeramix. "Over the next year, we will apply our proprietary heating solution to Gotec's award-winning pump, effectively taking their AIO concept to the next level. We both believe that once our high-performance heating element is applied to Gotec's innovative AIO pump, we will be able to provide the precise operational temperature and pressure required for consistently great tasting espresso. Ultimately, our ability to control the design, shape and size of our heating technology makes espresso machines and electric grills just two of the many potential applications for our technology. We are actively continuing to pursue and advance discussions across a spectrum of consumer, residential, automotive and aerospace applications for our technology that we believe have meaningful potential."
"This Agreement marks our continued strategic focus on maintaining our global market position as a leader in high-quality and precision pumps," stated Denis Albrecht, Director of Gotec. "In 2008, we introduced the AIO concept and validated our proprietary Swiss-made technology with the introduction of the Keep It Simply Swiss ("KISS") espresso machine which won the internationally recognized 'Red Dot Award' and 'XPlus Award' for best design, innovation, and quality in 2013. We look forward to working with the ThermoCeramix team to further enhance our AIO technology and bring great tasting espresso to consumers."
Under the terms of the Agreement, ThermoCeramix will work with Gotec to apply its heating technology to Gotec's proprietary AIO pump, replacing the conventional heating element currently in use in order to achieve precise temperature consistencies and energy efficiencies. The Company will be entitled to receive payments in respect of the development work upon the successful completion of various development milestones. Furthermore, any new technology developed under the Agreement with respect to heating elements and associated components will be owned by ThermoCeramix.
Upon the successful completion of the co-development process, ThermoCeramix understands that Gotec intends to finalize a supply agreement with an international appliance manufacturer for the co-developed AIO pump to be used in a new energy-efficient, high-performance, noise- and vibration-free espresso machine. In parallel to this, and contingent upon the successful development of the co-developed AIO pump and finalization of the supply agreement described above, it is expected that ThermoCeramix and Gotec will enter into a separate licensing agreement for the use of the Company's platform TCX™ technology.
Founded in Switzerland in 1963, Gotec's first product was a unique pump model invented by Mr. Otto Eckerle and was designed to supply domestic heaters with fuel. Today, Gotec has over 200+ patents and manufactures and sells its pumps to over forty (40) countries on five (5) continents. The Gotec pump is widely acknowledged in the engineering industry for its quality and precision and garners the "Swiss Made" label. In addition to electromagnetic pumps, Gotec develops and commercializes complete "plug-and-play" applications used in the air conditioning and heating industries and recently introduced a revolutionary "KISS" (Keep It Simply Swiss) espresso coffee machine which has received various international accolades, including, Red Dot Design Award Winner 2013, X Plus Award 2013 and World of Coffee – Vienna 2012.
ThermoCeramix Corporation (TSX-V Symbol TCX) is a technology-licensing company engaged in the development of high-performance, energy-efficient electric heating solutions. The Company's patented and proprietary TCX™ heating technology uses thermally sprayed heaters applied as a coating directly to almost any profile and material that requires heat. The technology is energy-efficient, scalable, and adaptable to almost any size and shape. The Company holds a strong and broad intellectual property portfolio of over 25 patents. The Company's strategy is to commercialize one application of its technology platform through the development, production and sales of a unique electric indoor-outdoor grill, then license the technology for numerous additional consumer, commercial & industrial applications. For more information, please visit the Company's web site at www.thermoceramix.com.
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SOURCE ThermoCeramix Corporation
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