Costs less than a quarter of equivalent wind turbine system
(Tampa, FL, January 27, 2016) Cool Technologies, Inc. (OTCQB: WARM) (“Cool Tech”) announced today that it can deliver the equivalent of a 2 megawatt generator with 4.5 months lead time, and that it is mobile. By comparison, an equivalent General Electric 2 megawatt wind generation turbine can take 5 years and cost 5 times as much. This demonstrates how Cool Tech is bringing down the cost of electric power and making it mobile to help address power outages from natural disasters to excessive drain on the power grid. Cool Tech’s trucks can simply drive up, plug in and the power is back on.
Cool Tech’s patent-pending technology uses a work truck’s internal combustion engine to power an on-board generator that delivers up to 200 kW of consistent, continuous electric power. In the event of an outage or disaster, it can provide emergency power wherever it’s needed to keep homes livable, businesses running, perishables cold and critical infrastructure operational. One truck can power about 40 typical US homes. Ten trucks can be driven to any location on the globe and combined to create the equivalent of a 2 megawatt generator, which can power about 440 average US homes.
A 2 megawatt GE wind turbine can also power about 440 homes, however, it will not work in a power outage because it needs to draw power off the grid to run. The power it provides is also not continuous as it is dependent on the wind. Finally, it can cost more than $5 million and take more than 5 years to build and set up. An equivalent power source from Cool Technologies costs less than $1,000,000 and can be delivered in less than five months. The GE wind turbine’s price per megawatt: about $2,500,000. The Cool Technologies’ price: about $500,000.
Pound for pound, cubic inch for cubic inch, no other generator packs more power. That’s because Cool Tech’s patented thermal technology cools electric generators more efficiently. More efficient cooling means higher electric output, up to 40% more. In technical terms, it delivers the power of a liquid- cooled generator in a smaller, lighter and simpler package.
“This technology enables work trucks to output both single and three phase power for one quarter the weight of a tow-behind and with one fewer engine to drive the generator, hence a reduction in emissions. And the truck can tow other equipment,” said Daniel Ustian, former Chairman and Chief Executive Officer of Navistar and current Cool Technologies Board member. “This could impact the tow-behind generator market in a very disruptive way.“
“The US has lack of grid stability. Developing countries are in need of power now and industrialization and urbanization have pushed current power delivery to their limits,” said Cool Technologies’ CEO, Timothy Hassett. “We believe chain operations or businesses with remote or satellite operations should be very interested as well. One truck can eliminate the costs and maintenance expenses of permanent back-up generators. Whenever there’s a problem, it can be dispatched immediately to keep the lights on and the business open.”
About Cool Technologies, Inc.
Cool Tech is an intellectual property and engineering company that works with partners such as Emerson Electric and Nidec Motor Corporation to manufacture products utilizing their assets. Our expertise in thermal dispersion technologies and their application to various product platforms enables them to improve power output by up to 40%. We employ a business model very similar to General Electric’s under Jack Welch. The model incorporates license & royalty, strategic alliance and joint venture/profit sharing. Cool Technologies is currently commercializing its patented thermal technology and a mobile generation technology. Plus, it has additional patents-pending for various OEM applications of its proprietary heat removal technologies. The markets that will be addressed by these technologies include industries such as 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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