MANCHESTER, N.H., Oct. 17, 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") (TSX. SDW), has received a letter of intent from a hospital in New England for a Percotherm® stack heat recovery unit. Hospitals typically require stable volumes of hot water in large quantities making them ideal applications for Sofame systems, which raise the fuel to hot water efficiency to as much as 99%. Purchase orders over $1 million already received from the food processing sector are expected to ship this quarter. Additional information to follow.
John Gocek, Sofame Technologies' President & CEO, commented, "Sofame is pleased with its success this quarter and believes the Company is well positioned for 2012. Our network of representatives has been working with several companies and organizations in the food processing, healthcare and central heating plants and is seeing an increasing demand for fuel efficiencies. The Sofame Percotherm® provides a good solution for this need as its performance metrics are among the best in the industry, offering more than 95% gas-to-hot-water efficiency, condensation technology and 140 degrees F leaving water temperature."
Tom Makmann, President and CEO of QED Connect, stated, "QED has been in the process of implementing its business strategy over the last 2 years and is excited that it is now in position to achieve its goals. The economic conditions have obviously made it difficult for companies to achieve their plans. However, by focusing on our core strategy working with our partners, QED is in position to be deliver its business plan and move to become a 'business development company' in 2012."
About QED Connect, Inc.
QED Connect, Inc. acquires, invests in and enters into strategic business partnerships with businesses that have strong potential. We seek joint ventures and strategic alliances in which we can assist our partners in achieving their plans and realizing their maximum potential. QED Connect's current investments and joint ventures include:
- Sofame Energy, Inc., a joint venture with Sofame Technologies, has sold the custom-designed "Hybrid Percomtherm®" boiler which recovers boiler flue gas heat from existing boilers and recycles the heat, thereby leading to overall energy efficiency. Sofame Technologies has announced receiving $1.4 million of orders for the Hybrid Percomtherm boiler in the past 6 weeks.
- Nazz Productions, a movie producer. Nazz's feature film, "Good Day For It," won Favorite Feature at the 2011 Sonoma International Film Festival and opened theatrically in Los Angeles in July. Nazz expects the film to be released on DVD and video on demand later this year.
- StockProfile.com, a media awareness company which operates a customized platform showcasing emerging growth stocks to independent investors. In June 2011, QED Connect purchased 100% of the assets of StockProfile.com.
- Kaleidoscope Venture Capital, Inc., Kaleidoscope-TV's technology distributes multiple DIRECTV satellite signals to customers on a single wire when coupled with DIRECTV-developed technology. The central dish system allows for a single compact dish antenna assembly to serve all the units in an entire building complex.
As a result of its continued success in the mergers and acquisitions arena, QED Connect is considering becoming a "business development company" as defined under the Investment Company Act of 1940.
For more information about QED Connect, visit www.qedconnect.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 and to fund expansion plans; (ii) generate sufficient revenue and efficiently manage operations to obtain profitability; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.
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