MISSISSAUGA, ONTARIO--(CCNMatthews - Feb. 26, 2007) - Pioneering Technology Inc. of Mississauga, Ontario (TSX VENTURE:PIO), ("Pioneering") announces it has finalized arrangements with University Electronics of Elizabeth, New Jersey to distribute its Safe-T-element(TM) cooking system to the college and university market in the United States.
University Electronics, a sales and marketing company that sells fire safety devices, small appliances and energy management systems to the college and university market throughout the United States, will lead the sales and marketing efforts of Safe-T-element(TM) for Pioneering and its existing dealer network in this market. University Electronics and their sales team have years of experience and contacts in the college and university market place and very important contacts within the fire prevention community.
Stove top cooking fires are the number one cause of fire in college and university housing and campus fire prevention officials and housing facility managers are looking for engineering solutions to resolve this very dangerous problem. There are over 4,000 colleges and universities in the United States.
Scott W. Riley, University Electronics' president and CEO said "Pioneering Technology has developed a revolutionary new product that will save lives. The initial response from the college and university market, as well as the fire officials we commonly deal with at the city, state, and national level has been overwhelming. It is rare indeed to see a new product receive such immediate acceptance and we are excited to be a part of its introduction to the US marketplace.
Pioneering CEO Kevin Callahan said, "since launching our product to the U.S. college and university market in October we have signed up 20 new college customers and have attracted another 28 that have applied for the Homeland Security grants. While we are attracting new schools every week there are over 4,000 colleges and universities in the United States. This new relationship we have forged with University Electronics will serve to increase our reach and accelerate our growth exponentially in this key core market. We have seen what they can do first hand and we are very pleased to have them representing our product".
Mr. Riley went on to describe the agreement as, "two companies combining their best and complimenting resources to bring an exciting new safety product to market in the US. We view this agreement as the first step in establishing a long-term relationship that will prove to be both beneficial and profitable for both our companies for many years to come. The combination of Pioneering Technology's engineering and design expertise and University Electronics' sales and marketing efforts will provide extraordinary opportunities for both our companies."
About University Electronics.
University Electronics is a sales and marketing company that directs its efforts primarily in the college and university marketplace. In addition to Pioneering Technology's Safe-T-element, they represent Fire Shield Surge Protectors; Energy-Eye energy management systems; and the MicroFridge line of small appliances specifically designed for college and university living. They have a customer base that reaches from coast to coast in the United States.
About Safe-T-element(TM) and Pioneering Technology Inc.
Safe-T-element(TM) is a patented cooking system engineered to prevent stove top cooking fires, the number one cause of household fire in North America, and reduce the amount of electricity required to cook. Pioneering is an "Energy Smart" product innovation company based in Mississauga, Ontario, that creates platform and derivative technologies that manage, control and transform heat into useful forms of energy. Pioneering engineers and brings to market energy smart solutions for consumer products making them safer, smarter and/or more efficient. For more information visit: www.safetelement.com.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
FOR FURTHER INFORMATION PLEASE CONTACT:
Pioneering Technology Inc.
Kevin R. Callahan
President and CEO
(905) 712-2061 ext. 222
Pioneering Technology Inc.
David G. Speck