VANCOUVER, Dec. 4, 2013 /CNW/ - Continuing on recent trends, Smartcool Systems Inc. (TSX-V: SSC) is expanding its ECO3 energy efficiency product distribution network across the Caribbean. Building outwards from its sales and technical hub in South Florida, Smartcool has signed new distribution agreements with local partners in the Bahamas, Jamaica, the Dominican Republic and Puerto Rico. This is in addition to ongoing activity elsewhere in the Caribbean basin including Guyana, Barbados, Mexico and Central America.
The Caribbean islands where Smartcool is now active are dependent on power generated from imported fuel, giving them some of the highest electrical rates in the world. Residential and commercial users are paying rates in excess of $0.30/kWh, and are supremely motivated to be as energy efficient as possible in order to minimize these costs. Combined with the high demand for climate control, the Caribbean has all the makings of an ideal market for Smartcool's ECO3 product.
"Smartcool has responded to radically increasing demand from tropical regions like the Caribbean by bringing on local partners in focused industry and geographic markets," explains Chris Lefaivre, Smartcool's VP of Operations. "This is the most efficient use of our technical resources in training and supporting new partners, allowing us to expand our potential revenue sources. It also offers new distributors the greatest chance of success as they dive into market verticals where we have a long history of great results and a depth of experience on which they can draw."
Smartcool's new Caribbean distribution partners include:
- Caribbean Supply Direct Corp. in Puerto Rico
- Caribbean Energy Savings, also in Puerto Rico
- Efficiency Systems Ltd in Jamaica
- Utility Saving Solutions in the Bahamas & the Dominican Republic
Smartcool's partners have launched a number of new projects in recent months, delivering energy savings to new customers in their own markets. An example of typical results comes from a Utility Saving Solutions (USS) project in the Bahamas. At the Green Turtle Club Resort & Marina, the ECO3 was installed on the air conditioning systems in a number of buildings.
"The rising cost of energy is our number one operating expense in the Caribbean," says Adam Showell, the owner of Green Turtle Club Resort. "Reducing these costs is a key strategy to our long term success; energy efficiency has become our primary tactic and the ECO3 is the cornerstone of our plans. Utility Savings Solutions reduced our monthly electric bills by up to $5,450, which is a 25% - 30% reduction in our electricity costs. This makes the ECO3 project our most successful cost saving endeavor to date."
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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 12 to 36 months.
SOURCE: SmartCool Systems Inc.
For further information:
Mike Kordyz, Smartcool Investor Relations
TEL +1 604 904 8632
EMAIL [email protected]