Vancouver, British Columbia--(Newsfile Corp. - February 1, 2018) - Smartcool Systems (TSXV: SSC) (OTC Pink: SSCFF) (FSE: R3W), a technology company providing cutting edge energy cost reduction solutions to businesses globally, is now focusing on the new high energy use industries. Following the successful installation and proven energy savings at SSE's Data Centre in Hampshire UK, the company is turning its attention to cryptocurrencies, blockchain applications, and cannabis growers.
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The ECO3 and ESM 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%, giving customers a return on investment in as little as 12 months.
Ted Konyi, CEO, stated: "It has become clear that BlockChain is being successfully used to enhance security with the first application being Cryptocurrency. The use of BlockChain requires a tremendous amount of computational power driving electrical consumption. Smartcool can significantly effect the energy consumption for keeping the computers cool. As such, it can benefit the consumers financially and improve their environmental footprint. The Cannabis Industry is also booming and again Smartcool can provide a significant impact. Cooling represents a very large portion of overall costs given the heat that grow lights generate. Smartcool's technology has proven to reduce A/C costs and could reduce growers' energy costs and carbon footprint."
Cannabis growing might look and smell natural, but its ecological footprint is anything but green. Pot growing is very power hungry. The cannabis industry is one of North America's most energy intensive, often demanding 24-hour indoor lighting rigs, heating, ventilation and air-conditioning systems at multiplying grow sites, with HVAC averaging between 30% and 50% of total energy costs, dependent on seasonal temperatures.
In a recent report, ArcView forecast the North American cannabis market will grow from an estimated US$10.8 billion in 2018 to an estimated US$22.6 billion by 2021.
The use of BlockChain for Cryptocurrencies and other applications has created a tremendous surge in computing requirements. The two primary elements of energy consumption for data processors is the energy to run the servers/computers and HVAC systems to keep them from overheating, with cooling estimated to represent about 40% of total energy costs associated in running the facility.
Digiconomist (www.digiconomist), a platform providing in-depth analysis, opinions and discussions with regard to Bitcoin and other cryptocurrencies, estimates that bitcoin mining operations currently consume enough energy to power approximately 3,072,000 U. S. households and that energy use will continue to expand.
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