Pioneering Technology Corp.

Pioneering Technology Corp.

April 10, 2006 09:15 ET

Pioneering Technology's TSX-V Listing Coincides with Exciting Product News

TORONTO, ONTARIO--(CCNMatthews - April 10, 2006) -

Not for dissemination in the United States of America

Pioneering Technology Inc. ("Pioneering" or the "Corporation") (TSX VENTURE: PIO) is now listed and publicly trading on the TSX Venture Exchange under the symbol: "PIO". "The timing of our launch into the public markets is working to our favour given the increasing demand and recognition of our products throughout North America", said Kevin Callahan, President and CEO of Pioneering.

With the listing now completed, Pioneering has the following highlights to report for the month of March:

1. Safe-T-element™ catching on with Housing Authorities AND Universities in the U.S.

2. Dealer network for Safe-T-element™ growing throughout North America

3. Safe-T-element™ awarded the prestigious U.S. Home Safety Council's commendation for product safety innovation.

4. Pioneering launches 2 new products for the Hearth industry at the Hearth, Patio and Barbecue Association's (HPBA) Expo in Salt Lake City

5. Pioneering's growing reputation as an innovator in the grill industry is starting to take off

Corporate Overview

Pioneering Technology Inc. is a leader in developing advanced thermo-based technology solutions for some of today's most common household products and appliances. Pioneering is committed to bringing value to its customers and enhancing the lives of the consumers they serve by engineering solutions that make everyday products safer, more convenient and more energy efficient. Pioneering licenses or sells its proprietary products and product components to leading original equipment manufacturers (OEMs) and/or through established distribution channels. Pioneering now has four products that are generating revenue for the company and several others that we are developing independently, in cooperation with leading OEMs or in cooperation with the Canadian government. Pioneering's current focus is on the sales of the Safe-T-element ™ and Powergrill™ products. Pioneering Technology's intellectual property is protected by patents, patents pending and trademarks.

1) Safe-T-element™ catching on with Housing Authorities and Universities across North America

Pioneering Technology's patented Safe-T-element™ cooking system engineered to prevent cooking fires before they start and reduce the amount of electricity required to cook is starting to catch on with housing authorities and universities throughout North America.

New customers introducing pilot projects from March 1st to date include:

Livonia, Michigan Housing Authority
Duke University, North Carolina
Vancouver Washington Housing Authority
Princeton University, New Jersey
Somerville, Massachusetts Housing Authority
Clemson University, Virginia
Westmoreland, Pennsylvania Housing Authority
North Carolina State University,
Housing Authority of Calvert County, Maryland
Norfolk Virginia Housing Authority
AIS Housing, Toronto
Portsmouth Housing Authority, Virginia
Windsor Essex Housing Authority,
Eastern Michigan University
Cornwall housing Corporation,
Florida State University
Community Living Toronto,
Tampa Bay Housing, Florida
Mary Lambert Swale Housing, Toronto
Peel Living, Ontario

Collectively these Housing Authorities and Universities have well over 20,000 apartment units under management.

"As we begin to penetrate the U.S. market we are starting to see a ground swell of interest for this product given the relevant benefits it offers (fire safety and energy efficiency) to housing authorities, universities and senior's residences", says Pioneering Technology CEO Kevin Callahan, "this is a very tight community throughout North America and new ideas and opportunities have a tendency to travel quickly. We hope to capitalize on this momentum, creating additional pilot projects while converting existing pilots into large customers."

2) Safe-T-element™ Dealer network growing throughout North America

We are happy to announce the addition of new Safe-T-element™ dealers in both Canada and the U.S. New dealers representing Eastern Ontario, Northern Ontario, New Jersey, Michigan, Virginia, North Carolina, South Carolina and Florida have signed on and are now selling Safe-T-element™ to housing authorities, senior's residences and universities in their individual market areas. "We are focused on growing our dealer network so that we have coverage in every state and province in North America. Interest in the product line has been overwhelming. This extended reach will enable us to grow the Safe-T-element™ retrofit business exponentially", said Paul Beckwith, VP Sales.

3) Safe-T-element™ awarded the prestigious U.S. Home Safety Council's Commendation Award for Product Innovation for Consumer Safety

The U.S. Home Safety Council's Commendation Award for Product Innovation for Consumer Safety recognizes manufacturers' outstanding contributions for product innovations that enhance consumer safety and can serve as an industry model for others to follow. Safe-T-element™, is engineered to help prevent cooking fires (the #1 cause of household fire in NA) before they start. Pioneering Technology's achievement will be highlighted in an HSC press release and at the Salute to Home Safety Awards Dinner on Thursday, June 8, 2006 in Washington, DC. "We are honoured to receive this prestigious award. It is a bellwether for this product and will give it instant credibility in the channels that we are selling into. This recognition not only enables us to include the Home Safety Council's seal on our packaging and in our marketing materials but it will generate incredible exposure for Pioneering with the OEMs we are targeting long term", said Pioneering CEO Kevin Callahan.

4) Pioneering launches 2 new products at the Hearth, Patio and Barbecue Expo in Salt Lake City

Pioneering Technology introduced two new products at the Hearth Patio and Barbecue Expo in Salt Lake City on March 10th for the Hearth industry. Pioneering introduced a new version of its patented low voltage to high voltage technology for the Hearth industry called the BE2 and two new remote control designs for gas fireplaces. The BE2 was designed to make the product more universally acceptable among installers and the new remotes offer the industry a more interesting design at a very competitive price. "Both new products were very well received", said Pioneering VP of Engineering Stan Kieller, "the BE2 further eliminates a significant industry issue with batteries. The new remotes are something that our customers have been asking for. Our engineers invented the category and our work with grill remotes means we can deliver the kind of design and competitive price points through economies of scale that they are looking for", said Kieller.

5) Pioneering is establishing itself as a major innovator in the Grill industry.

Pioneering Technology is working diligently on finalizing deals that will see its Powergrill™ remote ignition technology introduced for the 2007 barbecue season. "We hope to announce at least one major Powergrill™ deal in the coming months for introduction of this product during the 2007 grill season", said Callahan, who went on to say, "this will result in production revenue for Pioneering in 2006. In addition, our development work in this category is resulting in other product innovation opportunities with major grill/outdoor appliance manufacturers. Because this is a commodity driven category where most major North American OEMs are moving their manufacturing to China to compete on price, they now they must differentiate or die. Given that we are one of the only development firms that specializes in this area we are getting a lot of attention right now. We hope to have positive news to share soon."

In Conclusion

"We are very excited with the momentum that is developing for our products coinciding with the timing of our listing on the TSX Venture Exchange. We expect to deliver more positive updates monthly in an effort to keep our shareholders up to date with our progress. We have put a lot of time and effort into the development and implementation of the products we have commercialized to date. We are grateful for the support we received from our early stage investors and now we are committed to delivering shareholder value for them and those who look to benefit in the future from the success we are now starting to enjoy.", said Callahan.

About Pioneering

Pioneering is an "Energy-smart" product innovation company based in Mississauga, Ontario that creates platform and derivative technologies that manage, control and transform heat into useful forms of energy.

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 Chief Executive Officer
    (905) 712-2061 ext. 222