Smartcool Systems Inc. (SSC:TSX.V; SSCFF:OTC; R3W:FSE) announced in a news release it created Smartcool Systems GmbH, a wholly owned subsidiary in Germany, that will sell the parent company's products and services directly to the German market.
Dr. Georg Hochwimmer, who has helped numerous small technology companies with financing and sales, will manage the subsidiary's operations and develop a sales team for Germany. "I've known Georg for many years and have admired his strong business skills," CEO Ted Konyi said in the release.
"Establishing a presence in Germany is another positive step in the company’s growth plans," Konyi added. "In addition to Smartcool's proprietary optimization technology, I anticipate the products developed by our Total Energy Concepts division should also have applicability in this significant industrial market."
Regarding the company's prospects in Germany, Hochwimmer stated, also in the release, that "the combination of high [electricity] rates and a need to reduce emissions creates a tremendous opportunity for Smartcool and its suite of efficiency technologies."
In other news, the company just finished its first installation in the country, for an international food processing business. Savings resulting from Smartcool's energy efficiency solution at that enterprise are expected to fall between 25% and 40%.
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