PHOENIX, April 11, 2017 /PRNewswire/ -- Bollente Companies, Inc. (OTCQB: BOLC) today announced that its trutankless line of smart water heaters has been chosen for both a retrofit project and new construction of townhomes at Friendship Village, a retirement community touted as "senior living for the young-at-heart," located in Tempe, Ariz.
Developed in 1980 by The Weitz Company as one of the nation's first Continuing Care Retirement Communities, Friendship Village has undertaken an aggressive retrofit project to cut utility costs and extend the replacement cycle of water heating equipment by replacing traditional tank water heaters in its 300+ cottages with energy-efficient, space-saving tankless units. The project is expected to be completed in 2018 with the first phase of around 100 trutankless water heaters already installed.
"Energy, water, and space savings for existing construction are hard enough to come by on their own, but trutankless offers all three," said Brian Scott, Assistant Director at the Mesa, Arizona Friendship Village property. "Operators, investors, and developers in this industry should recognize trutankless as a long-term benefit to the bottom line. It's a perfect fit for us as we expand, and for literally thousands of other communities to be built around the US in the coming years, because trutankless is an easy improvement to resident safety and lifestyle."
The property is owned by Life Care Services Corporation, a leading senior living management and development company, which has begun construction of larger, upscale townhomes at Friendship Village for which trutankless is the water heating solution of choice.
"Continuing care communities are now one of the dominant areas for commercial real estate development," said Ben Bunge, a Project Manager at The Weitz Company. "Demographics are driving the demand. The new wave of retirees want the freedom of independent living in a fun environment as well as the ability to remain in the same community as they age."
By 2025, the number of senior living communities in the country is expected to rise by 21%, according to a report by Argentum, the largest national association exclusively dedicated to resident-centered senior living communities. Their focus on active lifestyles is taking advantage of the demographic shifts to attract Baby-Boomers looking for recreational amenities like yoga studios, healthy cooking classes, golf and tennis.
"With its small footprint, energy savings and inherent longevity, trutankless is an ideal solution for the senior living industry which is expected to continue to outpace the overall economy," said Michael Stebbins of Bollente Companies. "Besides all the other benefits, trutankless has smart technology that makes it possible for maintenance crews to easily monitor hundreds of water heaters for usage data and safety compliance which means trutankless is uniquely poised for growth within the segment."
Bollente Companies launched its first-generation trutankless unit at the IBS show in 2014, where it was named "Best Home Technology Product." trutankless also took home the Governor's Award of Merit for Energy and Technology Innovation at Arizona Forward's Environmental Excellence Awards in the same year. Since then, the product has garnered a multitude of accolades for its forward-thinking technology and energy efficiency, including a silver award in the Appliance Design Excellence in Design contest, a Special Mention in the Architizer A+ Awards, and was named a Hot Product by the editors of Green Builder Magazine. Featured as a water saving device in Consumer Reports' Top 5 Remodeling Trends for 2016 write-up, trutankless was also named "Best of Houzz" in January 2017 for the third consecutive year representing continued success among Houzz.com's 40,000,000 homeowners.
Founded in 2010, trutankless, a division of Bollente Companies, Inc. (OTCQB: BOLC), was brought to life through the combined insight, ingenuity, and drive of industry professionals, engineers, and entrepreneurs. The objective was to create a line of electric tankless water heaters that far surpasses traditional tank water heaters in energy efficiency, output, dependability and environmental sustainability while overcoming the frustrating drawbacks of other tankless units on the market today.
The trutankless mission is to efficiently provide hot water on demand by combining smart engineering with forward-thinking technologies that save owners money, energy, and space. For more information, please visit www.trutankless.com or call 855-TO-BUY-TRU.
About Friendship Village:
Developed in 1980, Friendship Village is one of the first continuing care retirement communities in Arizona. Managed by Life Care Services and a not-for-profit board of directors, Friendship Village's mission is to provide a community where older adults can secure their future needs while keeping their sense of adventure. For more information, visit www.friendshipvillageaz.com.
Forward-Looking Statement: The statements in this press release regarding any implied or perceived benefits from the release by trutankless of its line of electric tankless water heaters or added key strategic sales and distribution partners are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, risks of the key strategic sales and distribution partners ability to sell our product, and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions, and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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SOURCE Bollente Companies, Inc.