Production to start on MG80’s and MG125’s
Tampa, FL, October 25, 2018: Cool Technologies, Inc. (OTCQB: WARM), an innovator in efficient mobile power generation and thermal dispersion technologies, announced today that it has begun the production cycle with its OEM and vehicle upfitting partners to fulfill current orders and provide additional test vehicles to potential customers. Component orders have been placed for production of 80 and 125 kVA mobile power generation (MG) systems. Upfitters have begun manufacturing planning and units are expected to be delivered in December and Q1 of 2019.
“This is the first step toward full production and continuous order fulfillment,” said Quentin Ponder, Cool Technologies’ (CoolTech) CFO. “We are ramping up with our OEM and other key supply chain partners to fulfill current and expected orders beginning later this year.”
“We rely on a supply partner, Czero, to provide engineering support, OEM partners such as Nidec and Panasonic to build the components, and a manufacturing partner in St. Louis to finish the MG’s,” added Timothy Hassett, CoolTech’s CEO. “Our partners also provide full supply chain support, including inventory and warehousing. This saves the company millions of dollars in infrastructure and inventory costs.”
The initial production units will be delivered to customers up and down the Americas. As production and order flow increases, more manufacturing partners will be added throughout North America.
After regular production is in place, management expects to announce additional customers in North America during the next two quarters. Several customers have already established lines of credit to pay for their orders while others have arranged for testing and demonstrations of the MG vehicles.
About Cool Technologies, Inc.
Cool Technologies is an intellectual property and product development company commercializing patented thermal dispersion technology across multiple platforms. The Company has additional patents-pending for various OEM applications of its proprietary heat removal technologies. Tested and validated by two third parties, ESSCO Pumps and Nidec Corporation, 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.
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