VANCOUVER, Dec. 12, 2013 /CNW/ - Smartcool Systems Inc. (TSX-V: SSC) has launched a new strategic initiative to market the
intellectual property contained in its energy efficiency products with
the finalization of a Software Licensing Agreement with SmartACR.
The agreement licenses SmartACR to embed Smartcool's proprietary
software algorithms into a limited number of web enabled HVAC-R
multi-function controller devices. Under the terms of the agreement,
Smartcool retains title to the embedded software, earns a royalty for
each device that the software algorithm is embedded in and has the
right to purchase the new products developed by SmartACR at
preferential pricing. Product development work by SmartACR has
commenced and the new devices are expected to come to market in Q2
The signing of a Software Licensing Agreement marks the start of a new
stage in Smartcool's development, as it explores new and complimentary
means to monetize its compressor optimization software algorithms and
deliver them to market in innovative and profitable ways.
The agreement marks a milestone for Smartcool, as it demonstrates the
evolution of a distribution relationship into one that offers new
opportunity for growth for both parties. SmartACR has been a Smartcool
distribution partner since May 2012 experiencing rapid success with
Smartcool's technology and this is expected to escalate moving
Additional information on the development of these new products
incorporating Smartcool's proprietary software algorithms will be
released as events progress.
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
SmartACR is an independent distributor of Smartcool's ECO3 & ESM and a
licensee of Smartcool's compressor optimization software algorithms in
the USA. Operating out of offices in Boston and Houston, SmartACR is
focused on developing and delivering energy efficiency solutions for
air conditioning and refrigeration systems. www.smartacr.com
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:
WEB www.smartcool.net and www.smartcooleco3.com
Mike Kordysz, Smartcool Investor Relations
TEL +1 604 904 8632