TAMPA, Fla., March 22, 2018 (GLOBE NEWSWIRE) — Cool Technologies, Inc. (OTCQB:WARM), a leader in developing innovative mobile generation and cooling technologies, announced today that will hold a live demonstration of an innovative generator-equipped truck in April in Fort Collins, Colorado at Czero, Inc, a mechanical engineering firm located at the Powerhouse Energy Campus of Colorado State University’s Energy Institute. In attendance will be Mexican representatives from specific sectors and industries in Mexico City, Nuevo Casa Grandes and Veracruz, and the states of Campeche, Quintana Roo, Chiapas, Oaxaca, Tabasco, Yucatan and Chihuahua, as well as the nation as a whole.
In what is known as a “witness test,” the demonstration will enable the purchasers to confirm first-hand that the truck meets all specifications. That, in turn, will allow the truck to go into production. CoolTech will begin by producing 25 trucks at a time, fulfilling purchase commitments that have already been signed by Jatropha, Inc, and Veracruz, Inc, for a total 259 trucks to be used in farming operations.
“The successful completion of durability and reliability testing of the MG80 system in January provided the impetus and comfort level for Jatropha and Veracruz to agree to witness test live demonstrations in Colorado,” explained Timothy Hassett, Chairman and CEO of Cool Technologies. “Equally important, it provides an opportunity to show the system to several other potential customers, which we expect will generate additional orders.”
CoolTech’s key innovation is retrofitting generators to existing trucks, offering a major advance over traditional tow-behind generators. Because the system uses the truck’s engine to run the generator, “anywhere you can drive a truck, you can have power,” said Hassett.
“We expect that the ability to generate reliable electricity out in the field will have immediate and life-changing effects for farmers in Mexico,” said Hassett. “For the first time, farmers will have power when and where they need it.”
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 for fans, bearings, clutches and wet or dry brakes. Tested and validated by third parties including ESSCO Pumps, Nidec Corporation, and Mohler Technology, the Company’s cooling system eliminates the need for costly modifications while increasing power output of pumps, compressors, batteries, motors and generators by up to 40% when compared to existing technologies.
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.