First Customer Demonstration Expected in Seven Weeks
(Tampa, FL, October 5, 2016) Cool Technologies, Inc. (OTCQB: WARM), an innovator in mobile power generation, energy efficiency, and heat removal technologies, will demo its Mobile Generation (MG) technology in seven weeks, right before the Thanksgiving holiday and then unveil a fully retrofitted work truck three weeks later.
The Ford F-350 dually will power a custom 42.3 Generator built by Emerson. The output will match tow behind generators with ratings of 10, 20, 25, 30, 40, 50, and 80 kVA. Each rating will be reflected in the model number. Thus, an MG 10 outputs 10 kilovolt amps.
The initial demonstrations will showcase the work truck’s capability to output both single and three phase power for one third the weight of a tow-behind to key OEM’s, corporate/fleet users and up-fitters as well as generate orders. Consequently, sales financing is already in place.
“It costs less than a comparable tow-behind. There’s no Tier 4 issues. You can operate it inside or outside the truck. We eliminate one engine which enhances reliability. Plus, it frees up the hitch, so 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 significantly disrupt the tow-behind generator market.“
The disruptions could ripple far beyond to include construction, mining and other industries with remote worksites. Utilities, disaster response and general businesses could also benefit. During outages or disasters, the trucks can be dispatched to provide emergency power wherever it’s needed to keep businesses running, perishables cold and critical infrastructure operational. Cool Tech’s trucks can simply drive up, plug in and provide instant power.
“One truck can eliminate the costs and maintenance expenses of permanent back-up generators,” said Tim Hassett, Cool Technologies’ Chairman and Chief Executive Officer. “When the MG enters the market in 2017, the aftershocks will continue to rumble through the rest of the year as we introduce more powerful capabilities.”
That’s because Cool Tech’s patented thermal technology will soon be incorporated in the generators, particularly the larger ones. The technology cools electric generators more efficiently than anything else on the market. More efficient cooling means higher electric output, up to 40% more. In technical terms, the technology delivers the power of a liquid- cooled generator in a smaller, lighter and simpler package. Pound for pound, cubic inch for cubic inch, no other generator will pack more power.
To underscore the progress that’s been made, the Company added a Gantt chart to the most recent blog post on their website (https://cooltechnologiesinc.com/category/blog/). The chart details some of the tasks which have been completed and the ones remaining to finish the vehicle by year-end.
About Cool Technologies, Inc.
Cool Technologies is an intellectual property and product development company commercializing patented thermal dispersion technology across multiple platforms. For example, it works with partners such as Emerson Electric and Nidec Motor Corporation to manufacture products utilizing their assets. The Company has additional patents-pending for other OEM applications of its proprietary heat removal technologies. Tested and validated by two third parties, ESSCO Pumps and Nidec, the Company’s cooling system eliminates the need for costly modifications while increasing power output of 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.
For more information, read the blog at cooltechnologiesinc.com or contact ir@cooltechnologiesinc.com.