The Assisted Housing Risk Management Association partners with Fireman
24/7 and Pioneering Technology to offer their members the
Safe-T-element(R) (STE) cooking system at a greatly reduced cost.
MISSISSAUGA, ON, Sept. 22 /CNW/ - Pioneering Technology Corp. of
Mississauga, Ontario (TSX-V: PTE), ("Pioneering") announced today that a U.S.
distributor has signed a contract with the Assisted Housing Risk Management
Association (AHRMA) for a new fire loss reduction initiative being rolled out
to its 165 Housing Authority Members with the purchase of its first 2,000
The initial order and ongoing relationship with the influential housing
association is significant for Pioneering Technology because it represents the
first major purchase by a housing insurance provider and is expected to lead
to many more such contracts in the future.
"This is a bellwether moment for the STE technology as it is now being
recognized by the insurance industry as a product that can deliver a reduction
in cooking fire related property claims," said Pioneering CEO, Kevin Callahan.
"We are very pleased to be able to make this product available to AHRMA
through our Midwest distribution partner Fireman 24/7 and we look forward to
working with them to help reduce AHRMA members insurance costs."
AHRMA specializes in understanding and dealing with the risks faced by
housing authorities and provides property and casualty coverage for Public
Housing Authorities in Iowa, Illinois and Nebraska. It serves over 165 housing
authority members representing over 30,000 affordable housing and apartment
units. AHRMA provides a full line of products designed specifically for
"The STE prevents cooking fires and reduces energy costs that will save
AHRMA, and ultimately our members, lots of money," said AHRMA's CEO Julie
DePasse. "We are pleased to be partnering with Pioneering and Fireman 24/7 to
offer our members an important new product that will significantly reduce the
risk of cooking fires as well as false alarms at a greatly reduced cost!"
During the 2005-6 periods AHRMA members experienced about 40 fires per
year with an average cost per fire that increased from under $25,000 to about
$40,000. Early in 2008 AHRMA members experienced three fires with an
approximate damage cost totaling upwards of $800,000. To combat these rising
costs, AHRMA is embarking on an innovative new program that includes
Pioneering's Safe-T-elements to help better protect their member's
constituents and properties while bringing them added value through cost
savings and premium reductions.
AHRMA will purchase 2,000 Safe-T-element units and offer savings to their
members as a means of reducing cooking fires and insurance premium costs with
the added benefit of reduced energy costs at less than half the list price of
the product. It is anticipated that AHRMA will make additional purchases going
forward of approximately 3-5,000 units per year as the program rolls out.
Pioneering CEO, Kevin Callahan said, "We applaud AHRMA's initiative in
bringing this potentially life-saving product to their members. As leaders in
the industry this is but one example of the many innovative initiatives that
they offer to their membership."
About the Assisted Housing Risk Management Association (AHRMA)
AHRMA has been in operation for over 20 years and was the first
not-for-profit housing authority risk pool in the United States. The AHRMA
staff specializes in the understanding and dealing with the risks faced by
housing authorities. AHRMA is regulated by the U.S. Department of Housing and
Urban Development (HUD). For more information visit www.ahrma.com
About Pioneering Technology Corp. & the Safe-T-element(R) (STE) cooking
Pioneering is an "Energy Smart" product innovation company based in
Mississauga, Ontario, that engineers and brings to market energy smart
solutions for consumer products making them safer, smarter and/or more
efficient. The patented Safe-T-element(R) cooking system was engineered to
help prevent stove top cooking fires, the number one cause of household fire
in North America, and to reduce the amount of electricity required to cook.
The Safe-T-element(R) cooking system is available as both a retrofit and
pre-installed on new stoves. For more information visit www.pioneeringtech.com
This news release contains certain forward-looking statements that
reflect the current views and/or expectations of the Company with respect to
its performance, business and future events. Such statements are subject to a
number of risks, uncertainties and assumptions. Actual results and events may
The TSX Venture Exchange Inc. has neither approved nor disapproved the
contents of this press release.
For further information:
For further information: Kevin R. Callahan, President and CEO of
Pioneering, at (905) 712-2061 ext. 222