On June 8, 2021, ECOX executed a licensing agreement giving the Company exclusive rights to commercialize PoolCooled, a climate control solution that leverages proprietary technology to cool a home or building by taking cool water from an existing swimming pool and looping it through the existing air conditioning system to boost efficiency on a per-unit power consumption basis.
The PoolCooled system has since successfully undergone prototype testing, providing proof of concept in the process. The Company subsequently engaged patent attorneys to develop and file a patent application. Under the terms of the Agreement, along with the original inventor, the Company holds joint title covering all PoolCooled technology as well as all patents resulting from the Agreement.
Julia Otey-Raudes, CEO of ECOX, commented on the milestone, saying, "We are excited to take this important step as we get closer to commercializing a technology with the potential to cut air conditioning energy demand for residential and commercial structures by up to 65% under ideal conditions. PoolCooled is designed for residential and commercial property owners eager to minimize energy needs by mobilizing existing pool water as a primary climate control resource through the revolutionary PoolCooled system. The PoolCooled system has a conveniently small physical footprint, allowing it to fit easily into existing equipment areas and pool pump structures. And we can't wait to begin shipping and installing this technology widely next year."
Now that the PoolCooled patent application has been filed, ECOX plans to conduct further prototype tests to optimize the technology through the spring of 2022. Management believes this timeline will result in a market-ready product by mid-2022, with initial sales and installations beginning as early as Q3 2022, which will include identifying licensing opportunities and distribution partners, as well as marketing and sales investments.
Related tags: air conditioning