TAMPA, Fla., March 02, 2017 (GLOBE NEWSWIRE) — On February 21, 2017, Cool Technologies, Inc. (OTCQB:WARM), an innovator in mobile power generation, energy efficiency, and heat removal technologies, has signed an agreement with Craftsmen Industries, Inc., a market leader in the design, engineering and production of mobile marketing vehicles, experiential marketing platforms and industrial mobile solutions.
Beginning in April of 2017, Cool Technologies will work with and deliver to Craftsmen Industries, a Class III Vehicle (Ford F-350 dually) up-fitted with Cool Technologies’ production-ready MG 30 kVA/70 kVA (single phase/three phase) system. For up to 60 days, the two companies will test, tune and finalize the system’s design to ensure it meets the criteria required by Craftsmen’s customer base and Cool Tech’s target customers.
“The MG system appeals to Craftsmen Industries because of the benefits it will provide to our customers and because of the potential it offers to expand our customer base,” said Mark Steele, President and Chief Executive Officer of Craftsmen Industries. “Weight, cost and space savings are prime considerations for our current and potential customers.”
This agreement is mutually beneficial, leveraging the robust synergies between the two companies. In addition to the experiential marketing platforms, Craftsmen’s markets – military, first responder, command centers, training, disaster, water treatment, mobile medical, mobile offices and mobile kitchens – rely on mobile power generation. As a result, they include many of the primary segments targeted by Cool Tech.
During the two month test and tune period, key customers from both companies will be brought to Craftsmen Industries’ headquarters in St. Louis to view the technology and make pre-production orders to their specifications.
“This is an auspicious start for the year. Specialty design and vehicle up-fitting is one of the objectives we set early on,” said CEO, Tim Hassett. “Combining the unique skill set, proven quality and production capabilities of Craftsmen Industries, with our patented thermal and MG system’s technologies, will enable customers to order vehicles with MG systems from 10 up to 120 kVA.”
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.