SOURCE: Cool Technologies, Inc.

February 04, 2016 07:30 ET

Cool Technologies Announces Renowned Auto Industry Veteran to Join Strategic Advisory Board

Former Ford Executive Gurminder Bedi Joins Board as Company Prepares for Commercialization

TAMPA, FL--(Marketwired - Feb 4, 2016) - Cool Technologies, Inc. (OTCQB: WARM) ("Cool Tech"), an innovator and intellectual property company in mobile energy generation and heat removal technologies, announced today that Gurminder Bedi has joined its Strategic Advisory Board. The Advisory Board is an integral part of Cool Tech's overall strategic commercialization plan and Mr. Bedi will play a significant role in advancing the Company's mobile generation technology.

Mr. Bedi currently serves as Managing Partner at Compass Acquisitions, LLC following a lengthy tenure as Vice President at Ford Motor Company where he managed profit and loss responsibilities for the Ford Truck Division which included the North America F Series, Econoline, Explorer, Expedition, Escape, and Ranger, and in Europe Transit. Mr. Bedi has forged an extensive background in business strategy, product development, and manufacturing while serving as Chairman and Director of various automotive industry leaders. A graduate of George Washington University with a BS degree in Mechanical Engineering, Mr. Bedi also earned an MBA degree with a concentration in finance from the University of Detroit.

"Cool Tech has developed an exciting solution that enables significant power to be taken virtually anywhere at a low cost and much greater degree of mobility when compared to what the market has to offer today, or what I see on the horizon. The product is ready for the market and I am excited to be a part of this company as it creates a new market for an old problem," stated Bedi. "The Company has a compelling portfolio of intellectual property surrounded by an experienced and impressive team to drive its technology to market with its manufacturing partners."

Timothy Hassett, Cool Technologies' CEO, commented, "Gurminder Bedi is a significant addition to our Board of Advisors. He is an internationally well-known and respected leader in the automotive industry who understands the domestic and international market for our Mobile Generation business and will be extremely helpful throughout the commercialization process. We are honored and enthusiastic to have his experience, knowledge and acumen as we deliver what we believe to be a paradigm changing solution to mobile power for personal, commercial and government use."

Mr. Bedi's addition rounds out Cool Tech's Strategic Advisory Board specifically formed to assist the commercialization of the Company's three (3) current business verticals: (1) Mobile Generation, (2) Motors and Generators and (3) Pumps and Compressors. Included on the Board along side Mr. Bedi are:

William Finley, a forty-year veteran of Siemens who currently serves as the Chief Technology Officer for Siemens Industry, Inc. Drive Technology leading engineering, development and technology which encompasses motors, drives and mechanical drives,

Richard Schul, a 43 year motor and generator veteran and industry insider who, most recently, served as Emerson Electric's Group Vice President of Emerson Climate Technologies,

Daniel Ustian, a 37 year auto industry veteran who most recently served as Chairman, President and Chief Executive Officer of Navistar, Inc.,

Scott Van Dorn, a veteran of more than twenty years in global engineering and management in vehicles, engines, electronics and design for large scale commercial applications, including serving as Ford's Chief Engineer and Senior Manager for the high volume F-Series line.

About Cool Technologies, Inc.

Cool Technologies is an intellectual property and product development company commercializing patented thermal dispersion technology across multiple platforms. The Company has additional patents-pending for various OEM applications of its proprietary heat removal technologies. Tested and validated by two third parties, ESSCO Pumps and Nidec Corporation, the Company's cooling system eliminates the need for costly modifications while increasing power output of pumps, fans, compressors, batteries, motors, generators and bearings.

Safe Harbor Statement.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on plans and expectations of management and are subject to uncertainties and risks that could affect the company's plans and expectations, as well as results of operations and financial condition. A listing of risk factors that may affect the company's business prospects and cause results to differ from those described in the forward-looking statements can be found in company reports and documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, read the blog at cooltechnologiesinc.com or contact ir@cooltechnologiesinc.com.

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