Smartcool Establishes German Subsidiary

Smartcool Systems Inc. announces that Smartcool has established a wholly owned subsidiary in Germany. Smartcool Systems GmbH has been established in Germany for the purpose of selling is products directly into the German market.

The company has retained the services of Dr. Georg Hochwimmer to both manage the operations of the company and build a sales team for the country. Dr. Hochwimmer is well known to Smartcool management team and has had a successful career in assisting numerous small technology companies in financing and sales activities.

An installation has been completed in Germany at a large international food processing company. The company has 9 facilities in Germany and a total of 65 locations worldwide. Initial results are being monitored and savings are expected to be in the range of 25% - 40%. Once the initial installation savings have been confirmed the company expects other plants to install Smartcool technology.

Ted Konyi, CEO, stated “I’ve known Georg for many years and have admired his strong business skills. I’m very pleased that he has joined the Smartcool team in this capacity. Establishing a presence in Germany is another positive step in the company’s growth plans. In addition to Smartcool’s proprietary optimization technology, I anticipate the products developed by our Total Energy Concepts division should also have applicability in this significant industrial market.

Dr. Hochwimmer added “the German marketplace is very large, particularly its manufacturing base. The electricity rates are amongst the highest in Europe, far exceeding the costs in the USA. In addition, the government’s energy policies and mandates for emissions reductions are a strong driver for companies to search out efficiency technologies. The combination of high rates and a need to reduce emissions, creates a tremendous opportunity for Smartcool and its suite of efficiency technologies. We are already generating interest and anticipate additional sales in the near term.