QED Connect Inc.'s Joint Venture Partner, Sofame Technologies, Inc. Receives Follow-on Order From Leading Meat Processor
MANCHESTER, N.H., Aug. 18, 2011 /PRNewswire/ -- QED Connect, Inc. (OTC: QEDN), a New York Corporation ("QED Connect"), today announced that its Joint Venture partner, Sofame Technologies, Inc. ("Sofame Technologies") (TSXV: SDW), has received a purchase order for a Sofame Hybrid Percomtherm® unit from a leader in the processing and distribution of pork, poultry and meat products, with facilities in Quebec, Ontario and Alberta. The water heating system, which operates at 96% efficiency, combines condensing recovery of waste heat from existing boilers with a new direct contact condensing burner. The order, for a plant in Quebec, is one of several placed with Sofame by the same customer over the last few years to upgrade energy efficiency in their food processing operations. The reduction in fuel costs generally offers a three years return on the total investment including installation.
John Gocek, Sofame's President & CEO comments, "Sofame is pleased to continue working with this customer to provide improved efficiency to their operations. This order, which includes equipment and installation also qualified for a financial incentive from the natural gas utility, giving the customer everything needed to control project costs and ensure maximum benefits."
Tom Makmann, CEO of QED Connect added, "The Joint Venture continues to be a key part of our corporate strategy and we are pleased with Sofame's progress in closing new orders and obtaining financing. QED anticipates, but can provide no assurances, that orders of Sofame systems in the JV will contribute to its 4th quarter as several US orders in excess of million dollars are about to close."
About QED Connect, Inc.
QED Connect, Inc. is a New York corporation holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company seeks businesses with strong potential which QED can assist in achieving their plans and realizing their maximum potential. This business model achieves the Company's goals and expands its overall revenue and profits and diversifies through entry into the multiple market segments. It is QED's intention to help its partners and subsidiaries realize growth, and that growth would, in turn, enhance QED's ability to increase shareholder value. 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.
For More Information, Contact:
QED Connect, Inc.
Tom Makmann, President & CEO
Sofame Technologies, Inc.
John Gocek, President & CEO
(514) 523-6545 x-200
SOURCE QED Connect, Inc.