QED Connect, Inc.'s Joint Venture Partner Sofame Technologies Inc. Receiving Orders Focusing on Food Processing, Healthcare & Central Heating Plants in U.S.
MANCHESTER, N.H., Sept. 15, 2011 /PRNewswire/ -- QED Connect, Inc. (OTC Pink: QEDN) ("QED Connect") today announced that its joint venture partner, Sofame Technologies Inc. ("Sofame Technologies") (TSXV: SDW), is receiving additional purchase orders for its patented Hybrid Percomtherm® units from the food processing industry where hot water is used in large volumes. Orders under negotiation are expected to bring bookings this quarter to over $1.4 million. The Company is expected to install two of these systems before the end of the year. Additional information will follow.
The "Hybrid Percomtherm®" is a unique system that recovers boiler flue gas heat from existing boilers and incorporates a natural gas-fired burner offering more than 95% gas-to-hot-water efficiency. This condensing technology offers 180°F leaving water temperature to satisfy demands for domestic hot water and sanitation water. In addition to economically recovering heat from waste boiler exhaust, Sofame's products significantly reduce greenhouse gas emissions and fuel costs.
John Gocek, Sofame Technologies' President & CEO commented, "Sofame is excited about its recent orders and we are looking forward to continuing our success in 2012. With the increasing demand for fuel efficiencies, we believe that Sofame is in a good position to support this increasingly active marketplace."
Tom Makmann, CEO of QED Connect added, "The joint venture, Sofame Energy, in the U.S. continues to be a key part of our strategy and we are anticipating finalizing the conditions of the joint venture before the end of the year. Under the terms of the agreement, QED will participate in up to 50% of the profits generated by sales of Sofame Technologies' products in the U.S. through Sofame Energy."
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.
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.