David Gerrard to Lead Commercialization of MG System for the Work Truck Industry
TAMPA, Fla., June 19, 2017 (GLOBE NEWSWIRE) — Cool Technologies, Inc. (OTCQB:WARM) (“CoolTech”), an innovator and intellectual property company in mobile power generation and heat removal technologies, announced that David Gerrard has agreed to open doors and help secure orders for the company’s Mobile Generation (MG) System throughout the commercial vehicle industry and user/application verticals for everything from Class 3 pick-ups to 3 axle behemoths with weight ratings over 33,000 pounds.
Now a managing partner at Cornerstone Growth Advisors, David’s connections at the user and leadership levels are extensive. As a senior executive at both USF Corporation and Laidlaw Education Services, David successfully managed multi-billion dollar procurement, fleet maintenance, facilities and e-commerce throughout North America.
In 2006, Navistar chose Mr. Gerrard to run the largest single market, truck dealership in North America, Chicago International Trucks. As President and CEO, he consolidated the fifteen truck and leasing locations, growing and then maintaining a dominant market position in Class 6, 7 and 8 sales, parts, service, rentals and leasing.
When Navistar needed someone to lead its North American dealer operations, corporate stores and used trucks through the worst business cycle in 40 years, they turned to David again. He increased sales in their vital used truck operations by 80% and revenue by more than $1 billion. David also developed a robust global export market in Southeast Asia, Middle East and Latin America; drove export of 3,000 units and increased revenues by $750 million.
After that, he co-founded Cornerstone Growth Advisors, providing his well-honed skillset to corporate boards and C-Suite leaders. Once he saw a demonstration of the MG80 (80 kVA), he quickly realized the exponential possibilities of industry applications.
Today, he spearheads the industry integration strategy for CoolTech, positioning the company, nurturing client relationship and mining his network of contacts. The targets: Class 3 to 7 work trucks with applications ranging from disaster relief units, mobile kitchens and command centers, utility and telecom vehicles, digger derricks, crane trucks, bucket trucks, refrigerated trucks, electric vehicle chargers and mobile power platforms.
“The ability to quickly drive and generate up to 400 kVA virtually anywhere from a single vehicle without the cost and hassles of a tow-behind is unprecedented,” said Mr. Gerrard. “This is an ideal situation. The first orders are in. The systems are ready for market and new products are in the pipeline.”
Timothy Hassett, Cool Technologies’ CEO, added, “David’s got the green flag. We will provide him the support he needs to ensure his extraordinary record of success continues.”
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.