Vancouver, BC, August 13, 2014 -. Smartcool Systems (TSXV:SSC) has provided an update on their beta testing initiative currently being conducted with a Florida-based food distribution company. Smartcool's unique retrofit technologies reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by 15 to 20%, giving customers a return on investment in as little as 12 months.
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To determine the impact of the company's technology on compressor optimization, the technology was installed on a refrigerated trailer, with the company collecting data to determine the amount of savings in the run time of the compressor, while it was controlled by the Smartcool system. During the period tested, the equipment achieved consistent savings of approximately 20%.
As the compressor within a refrigerated trailer is driven by an independent diesel engine with its own supply source, the next phase of testing is to install a calibration flow meter to measure the supply and return flow rates of the diesel throughout the system. This measurement will determine fuel consumption with and without the Smartcool technology. As data is collected, the gallon per hour savings will determine the economic metrics for this new energy saving initiative and the potential savings available to the transport industry.
Fuel is one of the largest expenses for the industry, with statistics from the American Trucking Association indicating the industry as a whole consumes 52.3 billion gallons of fuel annually, with 70% of that being diesel, with an approximate cost of $142.7 billion to operators. Using refrigerated transport as a subset, representing 20% of the industry, the potential savings generated by Smartcool technology is substantial.
The goal of this phase of testing is to complete a report verifying the impact of the Smartcool technology on diesel consumption within the refrigerated food trailer segment. The report, showing the savings in gallons per hour, will be available for review by mid-September, and will then form the basis for the rollout with the Florida-based food distribution firm.
Smartcool also plans to introduce this opportunity to its existing worldwide distribution network, as the refrigerated market is significant around the world.
The shares are trading at $0.05 and with 89 million shares currently outstanding, the company is capitalized at $4.5 million. For more information, please visit the company's website www.smartcool.net (http://www.smartcool.net), phone 604-669-1388 or email info@smartcool.net (mailto:info@smartcool.net).
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