Smartcool Systems Inc.
TSX VENTURE : SSC

Smartcool Systems Inc.

August 09, 2005 09:01 ET

SmartCool Systems Inc. Signs MOU With Airtest Technologies Inc. to Form Strategic Partnership

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 9, 2005) - Smartcool Systems Inc., (TSX VENTURE:SSC) a marketer of advanced energy saving technologies, is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with AirTest Technologies (TSX VENTURE:ATI) Inc. of Delta, British Columbia.

The MOU provides SmartCool with the non-exclusive right to sell AirTest products to retailers, including retail chains. Additionally, AirTest will be granted non-exclusive distribution rights to market SmartCool products through its established marketing channels in territories authorized by SmartCool. The MOU also outlines a research and development program, to be jointly undertaken, to develop wireless transmitters to be used with AirTest's CO2, CO, and NO2 sensors/transmitters, LON interfaces for all AirTest sensors, and BACnet modules for use with AirTest CO2, CO, and NO2 sensors/transmitters. Resulting technologies developed under the MOU will be jointly owned by SmartCool and AirTest. Under the terms of the MOU the parties intend to enter into a definitive agreement within 60 days.

George Burnes, President of SmartCool stated "This partnership offers both SmartCool and AirTest the ability to utilize their existing marketing and distribution channels in a synergistic way that will benefit both companies. The product lines of each company complement each other and will allow SmartCool to offer its customers even more energy saving capability. This agreement creates powerful synergies that will bolster the Company's portfolio of products immediately enhancing SmartCool's position in the industry while facilitating the development of new technologies for future market release."

AirTest Technologies Inc. specializes in the application of cost effective, air monitoring and transmitters technology to ensure indoor air quality, comfort, security, health, safety and energy efficiency of buildings. They offer a wide range of gas, humidity, temperature and airflow sensor components for OEM applications. They also offer a wide variety of communication capabilities for their sensors including analog outputs and digital protocols.

About Smartcool

SmartCool Systems Inc. has acquired the exclusive distribution rights for the Abbotly System 4000 Energy Savings Module (ESM)®; for Canada and eleven US states including Arizona, Nevada, New Hampshire, Rhode Island, Massachusetts, Connecticut, Colorado, New Mexico, Vermont, Maine, and New Jersey, an exclusive distribution territory that is home to some 88 million people in total. In addition to the territories where SmartCool has exclusive rights, it is able to market to potential customers in territories assigned to other Abbotly Distributors if prior agreement has been reached. SmartCool has reached an agreement for California, Washington, and Oregon. This adds an additional 45 million people to the market opportunity. The System 4000 Energy Savings Module (ESM)® is manufactured by Abbotly Technologies Pty Ltd of Australia and is a system of micro-computer digital optimization modules specifically designed to reduce the electricity consumption of refrigeration and air conditioning compressors by an estimated 15% to 20% while maintaining temperature performance. 20,000 ESM's have been installed throughout the world since 1986 and in 2003 they reduced electricity consumption by 213,000 Mwh and Greenhouse Gas emissions by 250,000 tons resulting in cost savings of $20,000,000.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe", "will", "breakthrough", "significant", "indicated", "feel", "revolutionary", "should", "ideal", "extremely" and "excited". These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties.

Contact Information