Smartcool and SSE working together for energy efficiency savings in the UK
“Energy efficiency” are the new buzz words, which are all about reducing one’s energy needs and costs.
Air conditioning, refrigeration, and heat pump units waste a lot of energy through inefficiency. The systems compressors consume about 70% of the total energy required. 35% of an average building’s total energy is used up by these systems. This can be costly as many businesses are seeing much of their energy bill coming from their cooling and heating systems.
Smartcool Systems Inc. (TSXV: SSC) provides cutting edge, energy efficient, and energy cost reduction solutions, for businesses around the world. The ECO3, ESM, and ECO Home are Smartcool’s unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration, and heat pump systems by up to 40%. Smartcool states that their technology has been validated by rigorous third party testing, government organizations, and over 28,000 private business installations.
Smartcool is expanding globally including working with SSE in the United Kingdom
Activity in the UK continues to grow and should produce a substantial result for 2019. Smartcool has successfully completed a further three installations for SSE in the UK and are expecting similar results and energy savings to add to the previously installed energy solutions. SSE is one of the largest suppliers of electricity and natural gas in the UK, as well as offering a renewable solutions service to its customer base.
SSE currently has an estimated domestic customer base of 8.5 million along with a significant amount in the commercial and industrial sector. SSE has implemented and installed Smartcool’s technology as part of its pledge to drive down energy consumption and achieve significant energy reduction.
Nick Weedon, National Sales Agent for Smartcool, stated: “We have been working in partnership with SSE for some time to drive down energy costs within their own estate, while further sites have been evaluated in readiness for installations of our Energy savings solution. We are also working towards a program that will ensure the Smartcool solution is available to SSE customers as part of its continued commitment to help drive down energy consumption in UK.”
Smartcool completes acquisition of Total Energy Concepts Inc.
In August 2018, Smartcool received final TSXV approval and final documents, and has now closed the acquisition of Total Energy Concepts Inc. (TEC). Minnesota-based TEC has been in business since 2003 and has successfully grown the company and developed proprietary products used by over 10,000 client groups such as McDonalds, Archdiocese of Chicago, Berge Auto Group, and schools and municipalities throughout the Midwest. Total Energy Concepts Inc., offers clients a holistic approach to Energy Savings. Solutions include LED lighting, Power Quality and Protection Strategies, Power Factor Correction, Intelligent Motor and Facility Controls as well as other energy efficiency upgrade technologies. The company has successfully delivered its products to thousands of companies across North America.
Smartcool CEO Ted Konyi said. “This closing marks a growth catalyst for Smartcool and allows us to continue rapid revenue growth with an expanded product offering. As temperatures and energy costs rise, our products will become even more critical. The synergies from this acquisition create significant worldwide revenue opportunities.”
Smartcool is continuing to have great success at home and globally as they recently announced this month that their Q4 2018 sales were the highest quarterly sales ever achieved in the Company’s history.
2018 was a very successful year for Smartcool, through a huge acquisition of TEC and record sales in Q4.
2019 should see Smartcool making further in-roads into the UK, and see the company generating further sales that are expected to exceed their 2018 results. Smartcool offers the most important thing every company and business desires the most, saving money.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>