VANCOUVER, Jan. 25, 2016 /CNW/ - Smartcool Systems Inc.
(TSX-V: SSC))(OTCQB-SSCFF) Smartcool Systems Inc., CEO Ted Konyi, is pleased to announce today that the
company has entered into an LOI (Letter Of Intent) with Connected
Holdings of Newport Beach,
California. The LOI is expected to lead to signing of a
formal License Agreement during the first Quarter of 2016.
Connected Holdings, a leader in M2M and IoT platforms, will be
responsible for the development of a Smartcool cellular enabled
device and a cloud based Smartcool application for integration with
HVAC control systems. Connected Holdings will fund the development
work and manage the production of these new devices and cloud
services.
Connected Holdings will form a subsidiary for the purposes of
marketing this new connected solution. They anticipate leveraging
their relationships with cellular network providers and under the
license agreement, will be provided exclusive rights to sell
through this channel.
Connected Holdings and its associated entities, currently sell
in excess of 100,000 cellular IoT devices per month. These are
primarily sold into the automotive markets. As a result of
this existing business, Connected Holdings benefits from strong
relationships with its manufacturers and cellular network
providers.
Smartcool will, as part of the License Agreement, be granted an
ownership interest in the Connected Holdings subsidiary as well as
a royalty on sales. Smartcool will also distribute products and
services created by Connected Holdings through existing
distributors and sales agents.
Eric Collins, Chairman and
President of Connected Holdings, commented, "I am extremely excited
about this opportunity with Smartcool Systems. We have focused our
efforts in the IoT (Internet of Things) primarily in the automotive
arena to date. This has meant connecting vehicles with the Internet
for the purpose of communicating data about the vehicles' location,
condition, and other real-time information. By partnering with
Smartcool, we can now apply their AC, refrigeration and heat pump
efficiency technology to our cellular sensors product family and
our cloud based Intelligent Services platform. This offering
will provide businesses with real energy savings and the ability to
manage their energy utilization dynamically. In addition, by
leveraging our network relationships we expect to grow sales
rapidly. We are looking forward to a long and fruitful
relationship with Smartcool Systems."
Ted Konyi added, "We are thrilled
to be working with Connected Holdings who are leaders in the
growing IoT space. Their technical expertise, manufacturing
capability and network connections provide an opportunity to
significantly move the Smartcool technology forward. In addition,
the goal of providing our existing distributors and sales agents
updated tools to further develop existing markets and capture new
markets will enhance Smartcool's sales."
About Smartcool
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.
About Connected Holdings LLC
Connected Holdings, LLC. has successfully leveraged their
engineering design talents, manufacturing, network
relationships and market maker expertise to create a rapidly
growing group of companies focused on specific vertical markets in
the IoT space. By virtue of their design approach, they offer IoT
devices and communications platform at market-disruptive values.
More information about these companies can be found at the
following link.
http://connected-holdings.com
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SOURCE SmartCool Systems Inc.