QED Connect Inc.'s Joint Venture Partner Sofame Technologies, Inc. Provides Details on Order from Leading Meat Processor
MANCHESTER, N.H., Sept. 26, 2011 /PRNewswire/ -- QED Connect Inc.'s (OTC Pink: QEDN) ("QED Connect") joint venture partner, Sofame Technologies, Inc. ("Sofame Technologies") (TSXV: SDW), today revealed the details on the recent purchase order from Olymel L.P., a leader in the processing and distribution of pork, poultry and meat products that has facilities in Quebec, Ontario and Alberta. Sofame's seventh contract with Olymel, previously announced, is for a Hybrid Percomtherm® unit, which operates at 96% efficiency and combines condensing recovery of waste heat from existing boilers with a new direct contact condensing burner to heat process water.
"At Olymel, energy efficiency projects pay for themselves directly by reducing annual fuel costs," stated William Laing, Director of Engineering Services at Olymel L.P. He added, "The decision to purchase the Sofame unit was based on its heat recovery characteristics and its ability to produce hot water more efficiently than the conventional boilers in use. Sofame systems are already operating in six other Olymel plants across Canada, and their reliable performance has led to this decision to make a new investment."
According to John Gocek, Sofame's President & CEO, "Sofame is pleased to continue working with Olymel and our partners in Quebec. This offering, which includes equipment, installation, and a financial incentive from the natural gas utility, gave the customer everything needed to assess project costs and benefits. We are delighted to be able to proceed immediately with this new contract."
Tom Makmann, CEO of QED Connect added, "As previously announced Sofame has secured orders for over $1.4M this quarter. This order and the Butterball contract validate the technology's application in food processing industry. We are very excited about Sofame's success and are looking forward to the Joint Venture, Sofame Energy, contributing to QED's future."
About Olymel L.P.
Olymel L.P. is a Canadian leader in the primary processing, further processing, and distribution of pork and poultry meat products, with facilities in Quebec, Ontario and Alberta. Olymel L.P. employs more than 10,000 people. Its international sales, mainly to the United States, Japan, Australia and some 60 other countries, represent almost 50 percent of its revenue. The company chiefly markets its products under the Olymel, Lafleur, Flamingo, Prince and Galco brands. For more information: www.olymel.ca
About QED Connect, Inc.
QED Connect, Inc. is a holding company which makes acquisitions, investments, and enters into strategic business partnerships. QED Connect seeks businesses with strong potential which it can assist in achieving their plans and realizing their maximum potential. QED Connect helps its partners and subsidiaries realize growth, which will in turn enhance QED Connect's shareholder value. For more information about QED Connect, visit www.qedconnect.com
About Sofame Technologies Inc.
Sofame Technologies Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases depending on the application, and return the energy in the form of high-temperature hot water or pre-heated make-up air. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions. Using world-leading, patented green technology, Sofame serves industrial, institutional and commercial markets through a network of dedicated engineering representatives. For more information, visit www.sofame.com.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED Connect, Inc., (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to complete the Joint Venture with Sofame and to fund QED's overall expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its Joint Venture with Sofame and to fund QED's growth, generally; (iii) successfully obtain and fill potential Joint Venture product orders; (iv) generate sufficient revenue and efficiently manage operations to obtain profitability; (v) competitive factors and developments beyond the Company's control; and (vi) other risk factors.
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SOURCE QED Connect, Inc.