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SmartCool Systems Inc

Exchange: TSXV Exchange | Feb 16, 2019, 7:22 AM EST

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Smartcool Installs at Apogee Condominiums Managed by Atlantic Pacific Companies

Installed on Heat Pumps in Common Areas and on 90 Heat Pumps for 49 Beachfront Condominium Units

Vancouver, British Columbia--(Newsfile Corp. - April 19, 2018) - Ted Konyi, CEO, Smartcool Systems Inc. (TSXV: SSC) (OTC Pink: SSCFF) (FSE: R3W) is pleased to announce that the company has completed an installation at Apogee Beach Condominiums, Hollywood, Florida.

An initial installation of Smartcool's proprietary technology on 5 Heat Pumps serving the common areas of the Apogee Condominium tower provided in excess of 20% reduction in compressor run time. With this positive result the Apogee Beach Condominium Association chose to install Smartcool energy efficiency technology on all 90 heat pumps servicing the 49 Exclusive Beachfront Residences.

Apogee Beach Condominium Association is one of over 50 Condominium Associations managed by Atlantic Pacific Companies. With ever increasing utility costs, Atlantic Pacific Companies turned to Oscar Behncke of WWJD Engineering Inc. to recommend options for energy reduction.

Oscar had successfully installed Smartcool some years ago at the JW Marriott Hotel in Miami and recalled the effectiveness of the system. He believed that there would be an application at the Apogee and confirmed the efficacy and economics of the system to the managers at Atlantic Pacific.

The recent developments in Heat Pumps that both heat and cool spaces efficiently through the refrigeration cycle is providing a broader opportunity for the application of Smartcool's technology.

Ted Konyi commented "This installation is an extremely important step in Smartcool's aggressive growth strategy. The recent successes in the UK on Heat Pumps demonstrated that Smartcool has opportunities for sales even in temperate climates. Heat Pumps are being installed in more applications given their flexibility of providing both heating and cooling with one system and operating more efficiently than traditional heating systems. Given the application of reverse-cycle air conditioning, which basically uses refrigeration in reverse for generating heating, Smartcool's technology can be very effective on both heating and cooling in reducing overall compressor run time and thereby reducing energy consumption. This provides a much better economic return for the customer and a much broader base of potential customers for the company. Working with Oscar has been great as he both understands the potential applications for the technology and has a capable team of installation professionals."

Oscar Behncke said "The success at Apogee provides a platform for moving Smartcool into many other similar Homeowners Associations in Florida and elsewhere. Everyone is looking for efficiency and working with Smartcool provides an opportunity to reduce the costs of one of the largest consumers of energy in the household. I believe that working with company's like Atlantic Pacific will yield more opportunities for Smartcool and the consumers alike."

Smartcool would also like to announce that the Board of Directors have revoked the resolution, passed at the last AGM, authorizing the Board to complete a 5:1 consolidation of the common shares of the Company. The Board has determined that given the current business activities, including the previously announced residential initiative, agency agreement with Cool Save UK and the proposed acquisition of Total Energy Concepts Inc., a consolidation was not appropriate at this time. The Board believe that these business activities should have a significant positive impact on the revenue and profitability of the Company which mitigates the need for a consolidation at this time.

About Smartcool

Smartcool Systems Inc. (TSXV: SSC) (OTC Pink: SSCFF) (FSE: R3W) provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3, ESM and ECOHome are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by up to 40%.

For further information
www.smartcool.net and www.smartcooleco3.com

Investor inquiries
Mike Kordysz
Vice President, Investor Relations
TEL +1 604 904 8632

Legal Notice Regarding Forward Looking Statements

This news release contains "forward looking statements". Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as "expect", "anticipate", "intend", "plan", "believe", "estimate" and words of similar meaning. Forward-looking statements are based on management's current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward looking statements. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statements. Risks that may prevent or delay the forward looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company's website, www.smartcool.net.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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