Pioneering Technology Corp.
TSX VENTURE : PIO

Pioneering Technology Corp.

January 07, 2008 07:30 ET

Peel Living is First Housing Provider to Mandate Pioneering's Safe-T-element® for All New Stove Purchases

Peel Living announces that all future stove purchases will include the Safe-T-element® cooking system and that design guidelines will be altered to include this feature for stove purchases in all new buildings

MISSISSAUGA, ONTARIO--(Marketwire - Jan. 7, 2008) - Pioneering Technology Inc. of Mississauga, Ontario (TSX VENTURE:PIO), ("Pioneering") released today that Peel Living recently announced that it is mandating the inclusion of the Safe-T-element® technology for all new stove purchases. This mandate includes all new buildings and all new stove replacements in existing buildings.

Peel Living is the largest landlord in the Region of Peel, one of the largest in the Greater Toronto Area and a nationally recognized leader in creating innovative housing projects and developing housing policy. Peel provides housing for several thousand households.

The Peel Living initiative is based on a report that was recently presented and approved by Peel Living's Board of Directors. Highlights of the report included the following:

- All future Peel Living stove purchases must include the Safe-T-element® feature

- This standard is to be included in new developments as a change to the design guidelines

- Residents & staff will receive information on this safety feature

- The impact on reductions to Peel Living's fire loss record will be monitored & the Safe-T-element's contribution to reducing insurance premium costs will be confirmed & shared with the insurance carrier

- Extra costs to be reviewed by the Board on a yearly basis as a component of capital budget assessment and approval

The report goes on to say, "Peel Living will lead the way to encourage appliance distributors to have Safe-T-element® installed on new stoves prior to delivery. This creates a new and higher standard for Peel Living and will result in each stove purchase including this safety feature to eliminate stove top fires. The work of Pioneering Technology and Peel Living is now available to the municipal and private non profit sector of social housing providers."

The report also touched on some of the financial impacts of including the Safe-T-element® technology, "A pattern of fire losses year over year does have a direct impact on insurance premium costs. As such, any action to decrease our fire loss record benefits Peel Living. The installation of Safe-T-element® on all future stove purchases is an important improvement in resident safety and a sound business decision."

Pioneering CEO Kevin Callahan said, "This is a very exciting development in the evolution of this innovative product from a retrofit offering for existing stoves to a technology that is available installed on new stoves. We applaud Peel Living for leading the way for other housing providers in their efforts to protect their tenants and their properties from the dangers of stove top cooking fires."

The patented Safe-T-element® cooking system is engineered to help prevent stove top cooking fires, the number one cause of fire in North America and to reduce the amount of electricity required to cook.

Peel Living with the help of Pioneering Technology is the first housing provider in Canada to use its buying power to get the participation of a major Ontario appliance distributor to offer the Safe-T-element® feature pre-installed.

About Peel Living

Peel Living is the Region of Peel's non-profit housing company. Also known as Peel Housing Corporation, it operates as an independent Corporation of the Region of Peel and is administered by the Region's Housing and Property department. Peel Living is a nationally recognized leader in creating innovative housing projects and developing housing policy. It is the largest landlord in the Region of Peel and one of the largest in the Greater Toronto Area, in Ontario, Canada, providing housing for several thousand households.

About Pioneering Technology Inc. & the Safe-T-element® (STE) cooking system

Pioneering is an "Energy Smart" product innovation company based in Mississauga, Ontario, that engineers and brings to market energy smart solutions for consumer products making them safer, smarter and/or more efficient. The patented Safe-T-element® cooking system was engineered to help prevent stove top cooking fires, the number one cause of fire in North America and to reduce the amount of electricity required to cook. For more information visit: www.pioneeringtech.com or www.safetelement.com.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.

Contact Information

  • Pioneering Technology Inc.
    Kevin R. Callahan
    President and CEO
    (905) 712-2061 ext. 222
    Website: www.pioneeringtech.com