Smartcool(TM) Announces Significant Energy Savings at Lawrence Allen Centre

Vancouver, British Columbia–(Newsfile Corp. – February 7, 2022) – Smartcool Systems Inc. (TSXV: SSC.H) (OTC: SSCFF) (“Smartcool” or the Company”) is pleased to announce that it has successfully completed the installation of Smartcool’s proprietary compressor optimization technology at Lawrence Allen Centre which is owned and operated by RioCan. The installation included 43 of the Company’s ECO3™ processors and was completed in late July 2021. Verification of savings was accomplished through power metering over a 3-month period using Panoramic Power wireless power metering which provided our client with real-time power consumption data. Based on the 10 HVAC Rooftop Systems that were being monitored, estimated average daily savings was approximately 1,900 KwH per day. During the cooling season, it is anticipated that the system would save over 300,000 KwH for the centre.

The project was also monitored by Save On Energy. Save On Energy Business programs are delivered by the Ontario IESO (Independent Electricity System Operator) and provide support and tools to invest in energy saving techniques, projects and capabilities. This includes providing incentives for retrofit projects such as Smartcool™️’s compressor optimization solutions. The savings resulted in a 38% incentive helping to reduce the payback period to less than a year.

CEO Ted Konyi commented, “This initial installation has yielded significant results and will assist in meeting ESG and Carbon Footprint reduction targets for the centre. The Company is currently in discussions with RioCan about further installations to be completed in advance of the 2022 cooling season. A tremendous effort was put forward by the team at RioCan, Alectric and CCS Climate Control Systems in completing the project. We look forward to continuing the work with RioCan at their sites across Canada.”

The power sub-metering used to assess the efficiency gains on the HVAC equipment also provided substantial insights into overall HVAC controls and is likely to lead to further control strategies that are expected to add to the energy reductions provided by SmartCool™ technology.

Yuriy Koval, Procurement Director at RioCan added, “This project with SmartCool™ has not only generated energy reductions to help meet our goals but has also demonstrated several further opportunities to reduce our Carbon Footprint. As a leader in ESG initiatives, RioCan is committed to further reducing our energy consumption. This project also demonstrated that going green can be financially rewarding with the project anticipated to provide a rapid payback. Truly a win-win. We look forward to working with the SmartCool team on many other similar projects.”

About Smartcool

Smartcool Systems Inc. provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3 and ESM are Smartcool’s unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by up to 40%.

For more information, please www.smartcool.net

Investor inquiries
Ted Konyi
CEO
TEL +1.866.571.6554
EMAIL ted.konyi@smartcool.net

Legal Notice Regarding Forward Looking Statements

This news release contains “forward looking statements”. Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as “expect”, “anticipate”, “intend”, “plan”, “believe”, “estimate” and words of similar meaning. Forward-looking statements are based on management’s current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include those concerning the Company’s intent to conduct the Private Placement, its belief that the proceeds will be sufficient to pay to bring its financial statement and continuous disclosure filing obligations up to date, and its intent to file for a full revocation of the FFCTO and reinstatement of trading on the NEX Board of the TSX Venture stock exchange. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward-looking statements. Risks that may prevent or delay the forward-looking statements from coming to fruition as anticipated include investor interest in the Private Placement, the availability of working capital, regulatory risk and miscellaneous market factors that may increase costs. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company will be made available from time-to-time at www.sedar.com or at the Company’s website, www.smartcool.net.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112894