Pioneering Technology Corp.

TSXV Exchange | Aug 7, 2020, 11:37 PM EDT | Real-time price

PTE $ 0.105 RT
-0.01 (-8.6957%)
Day Low: 0.105
Day High: 0.11
Pioneering Technology Reports Largest Purchase to Date

SmartBurner purchased for 300 hotel properties (approximately 36,000 hotel suites)

MISSISSAUGA, ONTARIO--(Marketwired - Oct. 4, 2017) - Pioneering Technology Corporation (TSX VENTURE:PTE)(OTC:PTEFF), ("Pioneering" or the "Company"), a technology company and North America's leader in cooking fire prevention technology and products is pleased to report the completion of its largest single purchase to date. This purchase was for approximately 20,000 4-burner SmartBurner kits (or 80,000 single SmartBurners) to equip approximately 36,000 hotel rooms in 300 hotel properties. 

This is a repeat purchase from an undisclosed hotel chain and one of North America's largest owner/operators of company branded suite style hotel rooms that include fully equipped kitchens. This recent order was fulfilled in three stages to meet this customer's regional delivery requirements (product was shipped in June of Q3, September of Q4 and the balance will be delivered October 5th). 

This hotel chain has now ordered and installed SmartBurner in approximately 74,000 hotel rooms in more than 600 of its hotel properties. 

Pioneering CEO Kevin Callahan said, "We continue to make significant inroads with our product solutions in this very large channel. This recent order confirms the success we are having in helping prevent cooking fires in this channel. Nothing says success like large repeat orders from large existing customers."

The hotel/motel and corporate housing segment with fully equipped kitchens is large, growing and a natural channel for Pioneering's cooking fire prevention solutions. These channels represent a significant multi-million-dollar opportunity for the Company and its distribution partners while helping property owners and managers to save lives, property and money; and deliver a significant return on investment. 

Cooking equipment is involved in nearly half (45%) of all hotel and motel fires annually and results in significant costs, injuries, and sometimes death. While the direct impact of these cooking fires may be substantial and tragic, the indirect costs including lost income, relocation and higher insurance premiums can also be daunting. Pioneering's SmartBurner with its patented temperature limiting control (TLC) technology helps prevent cooking fires before they start. 

About Pioneering Technology Corp: Pioneering, based in Mississauga, Ontario is an "energy smart" technology company and North America's leader in innovative cooking fire prevention technologies and products. Our mission is simple: To help save lives and property from the number one cause of household fire - cooking fires. We do this by engineering and bringing to market energy-smart solutions that make consumer appliances safer, smarter, and more efficient. Our patented cooking-fire prevention products address the multi-billion-dollar problem of cooking fires. According to the National Fire Protection Association, stovetop cooking is the number one cause of household fire and fire injuries in North America. Pioneering's temperature limiting control (TLC) technology is now installed in over 250,000 multi-residential housing units across North America without a single cooking fire being reported, delivering peace of mind and a solid return on investment for its customers. Pioneering's proprietary cooking fire prevention solutions include Safe-T-element, SmartBurner, RangeMinder & Safe-T-sensor and are suitable for the majority of the more than 140 million stoves/ranges and over 140 million microwave ovens in use throughout North America. For more info, go to

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.

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release

Pioneering Technology Corp.
Kevin Callahan, President & CEO
905-712-2061 ext.101

For investor relations please contact:
Contact Financial Corp.
Rob Gamley

Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. View delay times for all exchanges. Market Data powered by QuoteMedia. See the QuoteMedia Terms of Use.