Pioneering Technology Corp.

Pioneering Technology Corp.

April 26, 2007 07:30 ET

Pioneering's Safe-T-element™ Receives Funding from the U.S. Department of Homeland Security

On April 20th, the U.S. Department of Homeland Security announced the release of the first round of grant awards under their Fire Prevention and Safety (FP&S) Program.

MISSISSAUGA, ONTARIO--(CCNMatthews - April 26, 2007) - Pioneering Technology Inc. of Mississauga, Ontario (TSX VENTURE:PIO), ("Pioneering") was advised today by its distribution partner University Electronics Inc. of Elizabeth, New Jersey that funding has been awarded for installations of the Safe-T-element cooking system. This is the first round of what will be many rounds of grant awards released by the U.S. Department of Homeland Security's Federal Emergency Management Agency's (FEMA) Fire Prevention and Safety (FP&S) grant program.

University Electronics president, Scott W. Riley was "extremely pleased to see that several colleges and universities, who had applied for funding to install Safe-T-element on their campuses, were included in this first round of awards."

He continued stating, "that these awards represent two significant events. First is the confirmation of the hard work and commitment that the professionals at these colleges and universities put forth to help ensure the safety of the students on their campuses. Their pro-active efforts will help prevent the types of fire related tragedies being reported all too often in the past few years. Secondly, is the additional affirmation that Safe-T-element is an important new product that will significantly reduce the risk of cooking fires as well as false alarms."

CEO of Pioneering Technology, Kevin Callahan said, "This is the most significant validation of this fire prevention and energy savings technology to date. Recognition in the form of financial subsidies from the U.S. Federal Government will have a meaningful impact on future sales initiatives and importantly on helping reduce the number one cause of fire on university campuses and in both senior's and low income housing in the United States."

Callahan went on to say, "Safe-T-element™" is a product that helps protect those who are most vulnerable to stove top cooking fires. We believe that this first release of funds from FEMA confirms their commitment to helping protect at-risk groups who are in need of both educational and engineering solutions. We look forward to more announcements as future rounds of funding are released in the coming weeks and months."

About the Fire Prevention and Safety Grants

The Fire Prevention and Safety Grants (FP&S) are part of the Assistance to Firefighters Grants (AFG) and are under the purview of the National Preparedness Directorate in the Federal Emergency Management Agency (FEMA). FP&S grants support projects that enhance the safety of the public and firefighters from fire and related hazards. The primary goal is to target high-risk populations and mitigate high incidences of death and injury. The U.S. Congress has appropriated a total of $539,550,000 to carry out the activities of the AFG Program. The governing statute includes a requirement that no less than five percent of the appropriated funds support fire prevention activities. As such, no less than $27,000,000 of the appropriation has been reserved for the Fire Prevention and Safety Grants. The grants under FP&S will be awarded on a competitive basis and are administered by the Department of Homeland Security (DHS) in cooperation with the U.S. Fire Administration (USFA).

About University Electronics Inc.

University Electronics is a sales and marketing company that directs its efforts primarily in the college and university marketplace. In addition to Pioneering Technology's Safe-T-element, they represent Fire Shield Surge Protectors; Energy-Eye energy management systems; and the MicroFridge line of small appliances specifically designed for college and university living. They have a customer base that reaches from coast to coast in the United States.

About Pioneering Technology Inc.

Pioneering is an "Energy Smart" product innovation company based in Mississauga, Ontario, Canada that creates platform and derivative technologies that manage, control and transform heat into useful forms of energy. Pioneering engineers and brings to market energy smart solutions for consumer products making them safer, smarter and/or more efficient.

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
    Pioneering Technology Inc.
    David G. Speck
    Investor Relations
    (416) 368-8464