SOURCE: Cool Technologies, Inc.

March 29, 2016 07:30 ET

Cool Technologies Signs Memorandum of Understanding for Up-Fit and Delivery of Ford Work Trucks

California's Largest Ford Commercial Truck Dealer to Offer Company's Mobile Generation Systems

TAMPA, FL--(Marketwired - Mar 29, 2016) - Cool Technologies, Inc. (OTCQB: WARM) ("Cool Tech"), an innovator in motor and generator power improvements, energy efficiency, and heat removal technologies that partners with multi-national corporations, announced today that it has executed a Memorandum of Understanding ("MOU") with the largest Ford commercial truck dealer in California, South Bay Ford, in which the dealer would process and fulfill orders for Cool Tech's Mobile Generation (MG) System utilizing their current process to up-fit and customize Ford F350, F450 and F550 commercial trucks.

The MOU, in conjunction with the Company's Ultimate Power Truck sales and fulfillment subsidiary and its existing partnership with Breitin Capital Management, LLC means that Cool Tech now has sales channels in the US and Mexico and a financing arm as well as up-fit and delivery capabilities. Timothy Hassett, the company's CEO stated, "With Breitin Capital's financial model, customers can finance pre-orders and production orders for the 30, 55 and 80 kVA MG systems with and through South Bay Ford."

"Offering truck-mounted exportable power under the chassis opens a lot of doors and new markets that previously had no option other than to tow a generator to a location," said Justin Burkhardt of Breitin Capital. "This represents a significant value-add for our rep's customers. The fact that South Bay Ford meets the strict engineering standards of the Qualified Vehicle Modifier program as well as Ford Motor Company carries a lot of weight."

"This delivers an additional supply chain in addition to several planned Ultimate Power Truck locations to provide direct product to the end customers: individual truck owners, small businesses and fleets," added Dennis Campbell, Manager of Ultimate Power Truck.

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.

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