We are pleased to let our shareholders know that we achieved another milestone towards the launch of our MG30-MG80 products on November 28th and 29th. Two potential customers came to Chicago and met with our engineering teams from Cool Technologies and Innova as well as board members, including Chairman and CEO, Tim Hassett, and former Chairman and CEO of Navistar, Dan Ustian.
The set up was a live comparison of a Doosan G70 (70 kW, 6,000 lbs +) tow behind generator and the Cool Technologies’ MG-30 through MG80 (30-80 kW, 1,028 lbs), under chassis mounted, mobile system.
These potential customers witnessed first hand, not only the successful mobile power product, but they were overwhelmed to see that, as advertised, our technology could match the power of the 6,000 lb. tow behind and yet weigh just over 1000 lbs.
One customer immediately saw the potential and fit for one of their key markets served: ground force military vehicles. This customer already specifies, sources and fulfills contracts as a Tier 2 supplier to our military today. The installed base is the target — over 50,000 units from 30 kW to 60 kW to displace with our combined technologies. The other customer has a fleet of just over 100 trucks. His trucks tend to idle for extended periods. He saw a fit for the MG with our “No Idle solution” that will deliver fuel savings and reductions in emissions.
After the customers left, our engineering teams reviewed the schedules for our 2017 launch. Outside engineering expertise from the vehicle industry was brought in to challenge the team on deliverables and we concluded the following timeline:
We will do two more internal product dry runs, one before X-mas and a second the first full week of January 2017. On January 23rd, our FINAL live demonstration to our board will be executed.
From that point, the MG demonstration truck will be presented live in front of key investors and shareholders plus our target up fitters and OEM’s. From these live demonstrations, it is our objective to drive and close revenue producing deals.
Stay tuned. Keep your eyes on press announcements and PLEASE NOTE, every press announcement will direct you to our website for more details on our CEO’s blog.