VANCOUVER, Nov. 17, 2015 /CNW/ - Smartcool Systems Inc. (TSX-V: SSC))(OTCQB-SSCFF) is pleased to announce it has signed an exclusive distribution agreement for the UAE region with EnviroTech Limited based in Masdar City, Abu Dhabi, UAE
Rania Abo Baker, General Manager of EnviroTech, states, "We are looking forward to the partnership between EnviroTech and Smartcool to develop the opportunity in this territory. The UAE`s electricity costs are rising at a rate in excess of 1.5% per quarter together with increased Federal Government focus on energy saving initiatives such as ESTIDAMA and LEED are driving these improved market conditions for our Energy Saving Systems product range".
"We are focusing on hotels, shopping malls and apartment towers. These types of buildings facilities have large Air Conditioning cooling requirements with the chiller plants working all year round providing an ideal environment for the Chiller Energy Saving System utilizing Smartcool's chiller optimization technology". We anticipate we will be able to announce our first major reference client shortly.
Steven Martin EVP of Smartcool states "We have always been interested in the Middle East as a market for our products given the high requirements for cooling. Finding a distributor like EnviroTech not only for the UAE but potentially expansion in other territories such as Saudi Arabia will provide a good foundation for a growing install base with EnviroTech."
EnviroTech have been actively marketing their Energy Saving Systems are planning a major marketing campaign in the UAE once these installations have been completed and further Chiller Energy Saving results have been demonstrated and published.
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 as little as 12 months.
EnviroTech is a Masdar City in Abu Dhabi, UAE company specializing in the supply, installation, testing, commissioning, operating and maintaining of Air Conditioning / Refrigeration Energy Saving Systems and Water Treatment Systems for many applications including Hotels, Offices, Leisure and Factory Facilities, Government Buildings, Restaurants, Apartment Buildings, Labour Accommodation and many other applications.
Legal Notice Regarding Forward Looking Statements
This news release contains "forward looking statements". Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as "expect", "anticipate", "intend", "plan", "believe", "estimate" and words of similar meaning. Forward-looking statements are based on management's current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward looking statements.Forward-looking statements in this news release include those concerning the company's belief in the growth opportunities in the Middle East. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statements. Risks that may prevent or delay the forward looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company's website, www.smartcool.net
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SOURCE SmartCool Systems Inc.
For further information: Investor inquiries: Mike Kordysz, Vice President, Investor Relations, TEL +1 604 904 8632, EMAIL: [email protected]; UAE Sales Enquiries: Rania Abo Baker, General Manager, TEL: +971 (0)2-681-4184, EMAIL: [email protected], WEB: www.enviro-t.com, EMAIL: [email protected]